PE Fund Investments
Logistics co Xpressbees raises Rs.195-Cr from Avendus fund; Elevation exits
Avendus Future Leaders Fund has bought a stake in Pune-based e-commerce logistics services provider Xpressbees from Elevation Capital for INR 195 crore. Xpressbees claims to handle over a million shipments daily across the country on its network of 3,000 cities, serving over 19,500 pincodes. The company is looking to open over 50 of its warehouses to service direct-to-consumer (D2C) brands. In February, Xpressbees had raised USD 300 million in a funding round led by private equity funds Blackstone Growth, TPG Growth and ChrysCapital, valuing the company at USD 1.1 billion.
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