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Logistics co Xpressbees raises $8 million from SAIF Partners and Vertex Ventures

Logistics company Xpressbees  has raised $8 million in a round of funding from SAIF Partners and Vertex Ventures, the venture capital arm of Singapore government's investment company Temasek, reports the Times of India. Expressbees is also the logistics arm of baby products e-commerce site FirstCry. Both SAIF Partners and Vertex Ventures are also investors in FirstCry. Xpressbees claims that it is delivering more than 60,000 shipments every day and provides same day delivery and next day delivery for e-commerce players. It also offers vendor pickups, try and buy services for customers and returns and reverse logistics. Earlier in January, FirstCry raised an undisclosed amount in funding from Ratan Tata. The company had raised $10 million in its fourth round of fundraising, led by the venture capital firm New Enterprise Associates (NEA) and Valiant Capital in April last year. Other than this it raised $26 million in February last year, secured $15 million funding in January 2014, $14 million in 2012 and $4 million  in 2011. Developments in the logistics space Last year saw a consolidation in logistics services with various companies getting acquired or invested in by business customers or competitors. - Earlier this month, Craftsvilla acquired the on-demand shipping service provider Sendd for $4.5 million. Following the deal Sendd would continue to operate independently and offer its services to other firms as well. – In December last year, Mumbai based Parsel, a logistics company, acquired Accord Ecom Solutions, a third party logistics provider for an undisclosed amount. – Flipkart acquired…

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