In this feature, we will draw your attention to an Indian Logistics Firm- Xpressbees, taking its valuation to a billion dollars and looking forward to launching an IPO.
E-Commerce Delivery Players have gained remarkable traction in the past four years. Thanks to the upsurge of E-Commerce Startups that don’t have their own Logistics Systems!
About Xpressbees
The Pune-Headquartered Startup Xpressbees is the fastest-growing Express Logistics Service Provider.
That caters to end-to-end 3PL Solutions from Pickup, Processing, Warehousing, and Last-Mile Delivery thereby, dispensing a one-stop solution for logistics needs.
Xpressbees has over 100 hubs, a warehouse capacity of 10 lakh square feet, and operates across 52 airports in India.
About The Founders and How Xpressbees Started
Supam completed his graduation from Delhi College of Engineering and, he is also an alumnus of IIM Ahmedabad.
He founded his first company FirstCry.com in 2010, with Amitava Saha on board as its co-founder.
In 2015, Amitava Saha and Supam Maheshwari founded Xpressbees, a Logistics Startup that works with many E-Commerce Firms.
With the inception of the E-commerce Platform First Cry, the founders worked with small capacities and limited. Delivery Partners who offered unreasonable prices and mediocre service quality on their terms.
This situation pushed the founders to start In-House Delivery Services First Cry Express, which could provide an exceptional delivery experience to the customers.
While building this Logistic Model for FirstCry, they further found that many Small and Medium E-Commerce Platforms were facing the same issues.
During our discussions with the Founding Members of such struggling platforms, the founders realized that their Delivery Model could solve the problems of huge industries.
That was when the seed of setting up a Logistics Service Provider turned into a plant, and they incepted an independent company called Busybees Logistics Solution in 2015.
How the Business Model of Xpressbees Shaped
Xpressbees operates on two types of Business Models. B2B and B2C Its B2B Business Model offers services to online markets and other growing companies.
While the B2C E-Commerce Model involves selling goods to the customers, apart from this, the startup has expanded its Logistics Solutions to provide 4PL, Cargo, and Cross-Border Services.
Funding and Valuation
Xpressbees has entered the Unicorn Club with fresh funding of 300$ million, tripling its valuation to $1.2 billion.
The new funding rounds have taken the startup to all-time raise of $575.8 million over eight funding rounds.
The startup has raised $300 million– $100 million in primary and $200 million in secondary in a Series F funding from Blackstone, TPG, and ChrysCapital.
Achievements, Competitors, and Reach of Xpressbees
Xpressbees offers its hassle-free services to more than 1,000 customers and helps deliver the products of many companies.
Such as Financial Services Giant Paytm, E-Commerce Startup Meesho, Eyewear Retailer Lenskart, Electronics Manufacturer Xiaomi, Online Pharmacy Netmeds, Online Marketplace Snapdeal, and more.
The startup has its existence across 3,000 cities and towns, processing 3 million orders per day and serving over 20,000 pin codes.
Ekart Logistics, Delhivery, FSC,and Ecom Express being the top competitors, Xpressbees competes with several other Logistics Firms.
Future Plans
Xpressbees is anticipating a 70% growth in the current financial year. It has raised fresh funds to become a Full-Service Logistics Firm and take the venture to the next level for better growth, hiring talent, and service development.
Read More : GlobalBees: A Company that help Small Brands for Expanding their Businesses
