- E-commerce logistics company Xpressbees has raised $80 million from Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of the $249 billion worth Ontario Teachers’ Pension Plan.
- The investment will be used to drive further growth for Xpressbees and support the company’s management team in their future ambitions.
- This marks Ontario Teachers’ first investment in India from the TVG platform.
- The company has over 6,000 clients and ships through 27 courier partners. It turned into a unicorn in February 2021 after a $300 million funding round.
- XpressBees turned unicorn after a $300 million round in February 2021 and facilitated $65 million worth secondary transactions since August 2022.
- XpressBees operating revenue jumped 33% to Rs 2,531.5 crore in FY23 from 1,904 crore in FY22. The company reported a net loss of Rs 180.4 in the last fiscal year.