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Xpressbees bags Rs 85 cr funding from SAIF Partners, IDG Ventures

Logistics firm Xpressbees has secured Rs 85 crore in funding from its existing investors, which include SAIF Partners, IDG Ventures India, NEA, Valiant Capital and Vertex Ventures.

Xpressbees CEO Amitava Saha said the funding will be used to upgrade the company's technology and expand its operations.

The company is looking to take on other retailing-focused logistics players such as Warburg Pincus-backed Ecom Express and Tiger Global-backed Delhivery.

Xpressbees began operations in September last year. Xpressbees is an e-commerce logistics specialist company, providing fast and reliable logistics solutions to its partners.

It delivers more than 60,000 shipments daily.