wordpress blog stats
Connect with us

Hi, what are you looking for?

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

Xpressbees

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

Advertisement. Scroll to continue reading.

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 a strategic minority stake in MapmyIndia to pad its supply chain (first mile pickup, last mile delivery) and logistics operations.

– In November, Shadowfax, an on-demand delivery startup, acquired its peer Pickingo for an undisclosed amount in a cash and stock deal

– In October, Grofers acquired the B2B logistics service provider Townrush for an undisclosed amount.

Advertisement. Scroll to continue reading.

– In the same month, MagicTiger acquired Zoyo, an artificial intelligence based platform that let users shop over chats, in an all cash and stock deal.

– Snapdeal invested $20 million in logistics firm GoJavas to enhance its supply chain and logistics.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

While the market reality of popular crypto-assets like Bitcoin may undergo little change, the same can't be said for stablecoins.

News

Bringing transactions related to crypto-assets within the tax net could make matters less fuzzy.

News

Loopholes in FEMA and the decentralised nature of crypto-assets point to a need for effective regulations.

News

The need of the hour is for lawmakers to understand the systems that are amplifying harmful content.

News

For drone delivery to become a reality, a permissive regulatory regime is a prerequisite.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ