Xpressbees, a rapidly expanding 3rd-party logistics service provider, has received $40 million from Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund. This secondary purchase comes from one of the company’s initial investors and will help support their growth in the future. Khazanah recently became a part of Xpressbees’ prominent list of investors including Blackstone Growth, TPG Growth, ChrysCapital, Alibaba Group, Elevation Capital, Investcorp, Norwest Venture Partners & Gaja Capital. Avendus Capital acted as the exclusive advisor on this investment transaction.
Opportunity for Tech-led Disruption in Logistics:
Amitava Saha, who is the Founder & CEO at Xpressbees, recognizes the potential of technology to revolutionize the logistics industry. Despite already being a major force in their sector, they are still taking their first steps on the journey of growth. Xpressbees aims to become an industry-leading logistics provider, and they are actively looking for strategic opportunities. Saha believes Khazanah’s long-term investment approach is well-suited to meeting the company’s growth objectives.
Xpressbees’ Scalable Asset-light Approach:
Xpressbees’ excellent asset-light model and remarkable technological precision gives them an edge that enables them to deliver top-tier services to some of India’s most prestigious e-commerce companies, as evidenced by their Service level Agreement (SLAs). In an official announcement, Xpressbees has declared that they are further increasing & strengthening their services such as express delivery, B2B express, warehousing and cross-border operations to provide a complete logistics fulfilment solution.
Avendus Capital’s View on Xpressbees:
Karan Sharma, the MD and Co-head of Digital and Technology Investment Banking at Avendus Capital, proudly shared his enthusiasm for collaborating with Xpressbees once again as they embark on a fascinating journey to redefine logistics through an India-first approach. Xpressbees has managed to stand out amongst the strong macroeconomic challenges in the market, even gaining a bigger share of it, while demonstrating significantly better business economics at the same time. Sharma is confident that Xpressbees can become one of the largest tech-based organizations by leveraging the immense potential of e-commerce.
Also Read: India’s Top 10 Supply Chain and logistics Startups
Xpressbees’ $40 million investment from Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund, underscores the company’s potential for growth and disruption in the logistics industry. With a focus on technology-driven solutions and an asset-light approach, Xpressbees is poised to capitalize on the burgeoning e-commerce market in India. This new partnership with Khazanah further strengthens the company’s financial backing, paving the way for continued growth and expansion.
