Xpressbees raises $12.5 mn from SAIF Partners, IDG Ventures

Busybees Logistics Solutions, which operates under 'Xpressbees' brand, has raised USD 12.5 million (Rs 85 crore) funding from existing investors, including SAIF Partners, IDG Ventures India, NEA, Vertex Ventures and Valiant Capital.
Incubated by the founding team of Ratan Tata-backed FirstCry.Com, Xpressbees started operations in September. It is present in over 200 cities and delivers over one lakh shipments daily.
"Xpressbees has rapidly expanded in the last couple of months... We plan to use the funds (Series A) to primarily invest in strengthening our technology and processes further raising the bar in service levels," Xpressbees founder and CEO Amitava Saha said.

Xpressbees competes with etailing-focused logistics players like Tiger Global-backed Delhivery and Warburg Pincus-backed Ecom Express.