Founded by FirstCry, the brand for baby and maternity products, Xpressbees has raised INR 85 crore in funding from existing investors such as SAIF Partners, IDG Ventures India, NEA, Vertex Ventures and Valiant Capital. Begun by the co-founders of FirstCry, Mr. Supam Maheshwari and Mr. Amitava Saha, the logistics firm is said to have scaled its operations to fulfil over 100,000 deliveries in a day with a fractional funding of $5 million (~ INR 34 crores).
The new funds will be employed to upgrade Xpressbees existing infrastructure and technology so they can take on other competitors from the e-tailing logistical space like Delhivery (Tiger Global) and Ecom Express (Warburg Pincus).
Investors, along with Mr. Sudhir Shetty believe that Xpressbees has the ability to emerge as a leader in the e-commerce logistics space in the country.
A recent report by the IIFL on the Indian market stated that the total volume of e-commerce shipments would amount to 2,000 tonnes per day by CY20. Having specialized in the delivery of orders with large dimensions from the very beginning (baby-strollers), Xpressbees stands to have an edge over other e-commerce logistics firms that concentrated on more generic goods of small sizes.
Xpressbees, owned under the entity name ‘Busybees Logistics Solutions’ serves around 3000 pincodes in the country and offers ‘same-day’ or ‘next-day’ deliveries in 100 cities across the country. At a time when other e-tailers are attempting to streamline all supply chain processes internally, Xpressbees’ receipt of funding is most opportune.