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Receiving and delivering goods are an indispensable part of every industry. Collecting the resources, segregating and allocating the specific deliverer are important measures undertaken to meet the standards of customers. It keeps the stream of the e-commerce industry alive.
Xpressbees is India’s leading logistics service provider and it has a great network of supply chain management across the country. The company was started in 2015 and now, it has more than 30,000 employees.
Xpressbees - Company Highlights
Headquarters-Pune, Maharashtra, India
Founders-Amitava Saha, Supam Maheshwari
Total Funding-$602.4 mn (August 2022)
Revenue-$237.40 mn (Rs 1800 crore in FY21)
Valuation-$1.2 bn (February 2022)
Parent Organization-Busybees Logistics Solutions Private Limited
Xpressbees – About
Xpressbees was started in 2015 by Amitava Saha and Supam Maheshwari. With its exclusive transportation and delivery framework, the company offers a variety of logistics services locally and globally. It names the services as Ecommerce Logistics, Express Cargo, Cross-border Logistics, Fulfillment Services. With modest cutting-edge technology and Reverse Logistics, Xpressbees fulfills the customers’ needs with timely delivery.
Xpressbees – Industry
The logistics and courier delivery services industry is an ever-expanding sector across the globe. Statista refered logistics industry as one of the "backbones of international trade worth over 5.7 trillion euros." The global market size of the logistics industry is over $8.5 trillion.
The Indian logistics market is not alien to growth either. It was last valued at around $250 bn in 2021, which has the potential to grow by $380 bn by 2025. This growth that the courier and logistics industry expects is because of the emergence of the new-age courier and delivery companies and startups that are fuelled by cutting-edge technology.
Xpressbees – Founders and Team
Supam Maheshwari and Amitava Saha are the Founders of Xpressbees.
Supam founded his first venture FirstCry.com in 2010. He did his B.Tech in Delhi College of Engineering and he is a graduate of IIM Ahmedabad. Supam was the co-founder and CEO of Brainvisa Technologies from 2000-2009, which he started with Amitava Saha and eventually sold it. Maheshwari is currently known as the Co-founder of Xpressbees.
Amitava Saha is also the Co-founder of FirstCry.com along with being the Co-founder and CEO at Xpressbees. He has been a Btech student at IIT Varanasi and then obtained a PGDM degree from IIM Lucknow. Before founding Xpressbees with Supam, Amitava has served as a Senior Officer at Tata Steel; a Sr. Business Development Executive at NIIT Technologies, and a Business Development Manager at Aricent. He then started with Brainvisa Technologies, where he served as a Director, and a VP, who was eventually promoted to the position of Senior VP. Amitava Saha then decided to found FirstCry, where he served as the Co-founder and COO, after which he founded Xpressbees. He has more than 17 years of experience in sales and operation
Xpressbees – Vision and Mission
The vision and mission of Xpressbees is to evolve as the best logistics solutions provider with all import and export services.
Xpressbees – Name, Tagline and Logo
The XpressBees logo has the words XpressBees delivering happiness on it. The name ‘Xpressbees’ depicts the rapidity of the company in its distribution and conveyance. ‘Delivering Happiness’ is the Tagline of Xpressbees.
Xpressbees – Growth and Revenue
Xpressbees started with 50,000 shipments per day and now it is executing more than 3 million shipments per day. The company has more than 3000 employees, 3000+ offices and service centers, 52+ airport connections, and is functional across 2500+ network cities. The company has recently crossed the Rs 1000 crore mark in revenue, as per the latest financial data received during FY21.
In the financial year 2019, the company’s business operations increased by 99.7%, which amounted to INR 540.95 crore, which was INR 270.83 crore in FY18. Xpressbees managed to scale by 32.7% in FY21, with its revenues from operations standing at INR 1004.8 crore, in comparison to the INR 757.2 crore in revenue, which it managed to record during FY20.
Xpressbees – Funding and Investors
The Xpressbees funding rounds have helped the company raise $602.4 Million over 10 rounds of funding. The last round that Xpressbees received on August 2, 2022, was worth $24.8 mn (Rs 195 crore), whcih came from Avendus Future Leaders Fund. With this funding, Avendus has revealed that it has picked up minoriy stakes in the unicorn ecommerce-focused end-to-end supply chain solutions provider, from Elevation Capital, an existing backer of Xpressbees.
The company received $10 Million in funding from Alibaba Group on January 3, 2020. It eventually raised 2 other rounds of funding in the next 2 years including the $300 mn round, which the company received on February 9, 2022, and the previous Series E round led by InvestCorp, Norwest, and Gaja Capital, which infused $110 mn of funding. The company turned unicorn by raising $300 mn in funding via its Series F funding round, which made it the 8th Indian unicorn in 2022.
Xpressbees – Competitors
The major competitors of Xpressbees are:
- Ecom Express
- Ekart Logistics
Xpressbees withstands its position with an expansive network and matchless logistics services.
Xpressbees – Future Plans
The company works towards widening its partnership with industries and expanding its network with more centers, increased shipments, stronger connections, and infrastructure.
Who is the owner of XpressBees?
Xpressbees is owned by Busybees Logistics Solutions, which was founded by Amitava Saha and Supam Maheshwari.
Who are the XpressBees competitors?
Some XpressBees competitors are Ecom Express, Delhivery, FSC, and Ekart Logistics.
How does the XpressBees Revenue model work?
The major source of revenue for Xpressbees also lies in the fulfillment services which comprises warehousing and transportation.
What is the turnover of Xpressbees?
The total revenue of Xpressbees was recorded at INR 1800 cr ($237.40 mn).
Who is the CEO of Xpressbees?
The CEO of Xpressbees is Amitava Saha.