PE Fund Investments
Logistics firm XpressBees raises $300-M from Blackstone, TPG, others; turns unicorn
XpressBees Logistics, a Pune-based logistics services provider, has raised USD 300 million in a new funding round led by Blackstone, TPG Growth and ChrysCapital. Existing investors, Investcorp and Norwest also participated in the round. Avendus Capital acted as the exclusive financial advisor to Xpressbees on this transaction. The latest financing values the company at USD 1.1 Billion, making it the latest entrant into the unicorn club of companies. The firm will use the new capital for financing technological advancement, increasing automation and to grow geographical presence. Xpressbees was incubated and started by Firstcry, a baby products etailer almost a decade ago, but was spun off as an independent entity in 2015.
From the Venture Intelligence PE-VC Deal Database: Between Sep-15 and Nov-20, XpressBees raised $248.4 M from InvestCorp Group, Norwest, Gaja Capital, Alibaba, InnoVen Capital, Kris Gopalakrishnan, Paytm, Vertex, Valiant Capital, Chiratae Ventures, Elevation Capital, and NEA. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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