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 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.
– 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.