XpressBees, an end-to-end supply chain solutions, has raised Rs 71.2 crore ($10 million) in fresh funding from existing investor Alibaba. The company was founded by Supam Maheshwari and Amitava Saha in 2015.
Earlier, XpressBees had raised $157.6 million in six funding rounds.
The company will utilize these funds for growth and expansion of its business.
XpressBees said in its annual financial filing to the government that “The company has incurred losses on account of increase in the costs of expansion, creating infrastructure and capacity and other overheads.”
XpressBees provides flexible and comprehensive Last-Mile Delivery, Reverse Logistics, Payment Collection, Drop Shipping, Vendor Management, Cross Border Services, Fulfillment Services and tailored Software Solutions to our clients. They deliver 4,00,000+ shipments every day and to more than 20,000 pin-codes with 53 hubs and more than 1400 Network Cities.