Investments, News

Logistics Startup Xpressbees Raises $8M from SAIF Partners and Vertex Ventures

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.

xpressbeesThe startup which claims to deliver over 60,000 shipments everyday, serves as the logistics partner of companies like Snapdeal and baby care portal, FirstCry.

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.”

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