Xpressbees raises $300mn in Series F funding led by Blackstone, TPG & ChrysCapital

Xpressbees, a third-party end-to-end logistics service provider, has raised $300 million in a Series F funding round. Led by private equity funds Blackstone Growth, TPG Growth and ChrysCapital, existing investors, Investcorp and Norwest Venture Partners, also participated in the Series F round. With this round, the total amount of funds raised by Xpressbees exceeds $500 million. Avendus Capital acted as the exclusive financial advisor to Xpressbees on this transaction.
“We are excited to welcome our new partners Blackstone Growth, TPG Growth, and ChrysCapital in our growth journey. With their vast network and operational expertise, we believe that they will further fuel our efforts in pursuing newer opportunities and will help expand our footprint.” said, Amitava Saha, Founder and Chief Executive Officer, Xpressbees.
Xpressbees will to use the capital to fulfil its vision to evolve into a full-service logistics organization, support the business in its next phase of growth, product development, and hiring talent.
The brand has progressively built best-in-class technology platforms, an extensive network reach, a seamless last mile management system, and has experienced a near 100% growth in revenue on a year-to-year basis.