Xpressbees raises $300 mn in unicorn round, some major investors exit

Logistics start-up that works in 3000 cities across India is valued at $1.2 billion.

Logistics start-up Xpressbees said on Wednesday it has raised $300 million in a funding round led by private equity funds Blackstone Growth, TPG Growth and ChrysCapital. The company is now a unicorn after the round valued it at $1.2 billion.

The Series F fundraise included a primary capital infusion of $100 million and a secondary share sale worth $200 million. Early investors Elevation Capital and Alibaba booked a partial exit in the share sale; Chinese asset management company CDH Investments made a complete exit.

Existing investors, Investcorp and Norwest Venture Partners, also participated in the Series F round. With this