Ecom Express, an end-to-end technology enabled logistics solutions provider to the Indian e-commerce industry, has raised $20 million in latest funding round from impact investor CDC Group based in UK.
“The group’s latest commitment will support Ecom Express in advancing the company’s sustainable development and impact agenda of enhancing skills and boosting job creation in the country’s hinterlands,” a statement said.
It further added, “Additionally, Ecom Express will be utilizing the equity infusion by CDC Group investments for strategic initiatives such as growth-driven capital expenditure, working capital requirements, new business initiatives, expansions, and potential strategic acquisitions/partnerships.”
The statement also informed, “This investment supports India’s effort as it will enable Ecom Express to create 8,000 new jobs in addition to an initial target of 15,000 roles – prioritising employing women for jobs at delivery centres, fulfilment centres and warehouses across the nation.”
T A Krishnan, Co-founder and Chief Executive Officer at Ecom Express, stated, “We are extremely pleased to have a continued partnership with CDC. This fresh infusion of capital will enable us to further strengthen our network, infrastructure, operations, and technological prowess while assuring support to our next levels of growth.”
Headquartered in Gurugram, Ecom Express was incorporated in 2012 by T.A. Krishnan, Manju Dhawan, K. Satyanarayana and Sanjeev Saxena. It has presence in all 29 states of the country and operates in over 2400 towns across 25,000+ PIN-codes in India.
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