Xpressbees, a prominent B2B logistics service provider, has successfully raised $80 million in funding from Teachers’ Venture Growth (TVG), the investment arm affiliated with the Ontario Teachers’ Pension Plan. This strategic investment has led to the Canadian pension fund acquiring a stake in the Pune-based startup, valuing the company at approximately $1.4 billion, as reported by various sources.
The infusion of capital is poised to drive the continuous expansion of the Xpressbees platform while offering essential support to the company's management team in pursuing their ambitious future endeavors, as stated by the company itself.
This milestone represents Ontario Teachers' first-ever investment in India via the TVG platform. Expressing their enthusiasm for the burgeoning market opportunities in India's end-to-end logistics and supply chain solutions, Deepak Dara of Ontario Teachers stated, "We are excited about the market opportunity for end-to-end logistics and supply chain solutions that can meet the needs of a diversified customer base across industries, including e-commerce in India."
Dara further underscored the merits of Xpressbees, noting, "Led by a strong team, Xpressbees has established a highly scalable and efficient asset-light model with proven execution capabilities."
XpressBees achieved unicorn status following a substantial $300 million funding round in February 2021. The logistics platform plays a pivotal role in providing comprehensive supply chain solutions, encompassing B2B/B2C express delivery services, cross-border logistics, and warehousing services. Its clientele includes e-commerce, pharmaceutical, heavy industries, and banking institutions.
Furthermore, through its subsidiary, NimbusPost, Xpressbees offers a SaaS-based shipping aggregation platform tailored for small and medium-sized enterprises (SMEs) and direct-to-consumer (D2C) brands. This strategic investment marks another significant step in the company's journey toward becoming a global logistics powerhouse.
