Alibaba has invested $10 million into XpressBees, an eCommerce logistics firm based in Pune, India.
XpressBees was founded in 2015 by Supam Maheshwari and Amitava Saha, who are also founders of eCommerce site FirstCry, a baby product seller backed by SoftBank. The company offers full-blown logistics solutions and is adept at cross-border warehousing and transportation.
According to Paper.vc, Alibaba’s investment is likely to come as an extension to the previous $35 million it injected into XpressBees in the company’s Series D round in 2017 and was anticipated to $100 million.
Site Search 360 Reports