Xpressbees turns unicorn after raising $300 million funding
- ByStartupStory | February 10, 2022
Logistics service provider Xpressbees has brought $300 million up in a financing round drove by worldwide private value finances Blackstone Growth, TPG Growth and ChrysCapital, turning into the eighth Indian startup to enter the unicorn club – substances esteemed in overabundance of $1 billion – up to this point this year. However, as much as $100 million might have been brought up in an essential venture, in which stocks are bought straightforwardly from the guarantor, while $200 million came through auxiliary exchanges.
Counting the new raise money, the startup has up until this point got speculations totalling $575.8 million. The Pune-settled startup that works with a few web based business firms in India has dramatically multiplied its valuation to $1.2 billion after the new financing round, TechCrunch announced. This is the eighth unicorn of the year after Kirana business stage ElasticRun, which brought $300 million up in financing drove by SoftBank. Different unicorns of the year incorporate social internet business startup DealShare, HR tech startup Darwinbox, ed-tech firm LEAD, investigation organization Fractal, Home inside and redesign stage Livspace, and mother care substance Mamaearth.
Xpressbees has a presence in excess of 3,000 towns and urban areas in India with in excess of 1,000 clients across ventures. Its clients incorporate Paytm, Meesho, Lenskart, Xiaomi, NetMeds and Snapdeal. The organization processes multiple million orders every day.
“We are eager to invite our new accomplices Blackstone Growth, TPG Growth, and ChrysCapital in our development venture. With their tremendous organization and functional aptitude, we accept that they will additionally fuel our endeavors in seeking after more current open doors and will assist with growing our impression,” said Amitava Saha, originator and CEO of Xpressbees, in an articulation. The startup, which is expecting a 70% development in the current monetary year, plans to send the new assets to turn into a “full-administration strategies” firm, the report added.
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