PE-VC Fund Investments
Warehousing services provider 20Cube 3PL raises Rs.500-Cr from Investcorp
Global private equity firm Investcorp has invested INR 500 crore in Chennai-based 20Cube 3PL Solutions . The investment involves separating the contract logistics business of 20Cube 3PL Solutions from its Singapore-based parent company, 20Cube Logistics. Investcorp plans to deploy a further INR 500-750 crore to acquire other contract logistics businesses to build a consolidated platform.20Cube 3PL Solutions operates over 7 mn sq ft of warehousing space, serving clients in consumer durables, chemicals, engineering goods, and automotive components. The firm plans to use the new funds to expand its warehousing footprint to more than 20 mn sq ft.
In Feb 2013, 20Cube Logistics had attracted about $ 17 M from Credence Partners, Zephyr Peacock.
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