Pune-based eCommerce logistics firm, Xpressbees, has raised around $8 million from SAIF Partners and Vertex Ventures, the venture arm of Singapore government’s investment fund Temasek.
No official statement on the development has been released by the company yet. However, a person associated with the Xpressbees said, “Logistics is still a problem that most eCommerce players are struggling with and everyone is trying to build their own fleet. Xpressbees which started as a logistics support provider for FirstCry is now cashing in on the growing investor interest around this space. It has other eCommerce players as its partners including Snapdeal.”