Delhi based logistics solutions provider, Ecom Express has raised a amount of $133 million from private equity firm Warburg Pincus. The latest round will be used to expand its delivery footprint in tier 3 and 4 towns and cities as well as plans to invest further in technology, and strengthen network reliability and infrastructure, among others. In September 2014, it raised $16 million from Peepul Capital.
The three year old company was launched by TA Krishnan, Sanjeev Saxena, K. Satyanarayana and Manju Dhawan. It serves over 2,800 pin-codes through more than 320 delivery centers and 8,000 employees in about 210 cities. The firm also expects to handle about 50 million packages this year.
Firms dealing in the same space include Delivery, Holisol, DotZot, GoJaVAS among others. Delhivery raised a Series D round of $85 million led by Tiger Global Management with participation from existing investors in May this year. Holisol secured $1.5 million in September 2014.
The Indian online retail market is growing at an explosive rate and research shows that it is projected to grow from $3 billion in 2013 to $23 billion by 2018. This opens up huge demand for logistic services, offering tremendous opportunities in this space both for the existing players and the new entrants.