 "Xpressbees")
Xpressbees, a leading logistics firm, said that it has joined ONDC (Open Network for Digital Commerce), enabling Pan India delivery services to over 20,000 pin codes. The firm said this strategic move underlines XpressBees' commitment to providing efficient and reliable logistics solutions to businesses and consumers nationwide.
Through ONDC, XpressBees aims to capitalize on its expertise and establish itself as a key participant in India's booming e-commerce industry.
"We are thrilled to be live on the ONDC network and extend our Pan India delivery services to over 20,000 pin codes and 2,800 cities," said Amitava Saha, co-founder and CEO at XpressBees. "We are confident that joining ONDC will enable us to optimize our operations further and deliver unmatched logistics solutions to the participants in the ecosystem."
XpressBees has a comprehensive logistics infrastructure, including warehouses, delivery centers, and a diverse fleet of vehicles. This combined with the ONDC Network's digital framework, would ensure efficient order processing, tracking, and timely deliveries.
XpressBees' technology-driven approach allows seamless integration with online marketplaces and retailers. This enhances the end-to-end customer experience.
“Our vision is to create an open network that connects buyers, sellers, and intermediaries of all kinds with each other without any digital barriers, and logistics is most definitely a key component of this revolution,” said T Koshy, MD and CEO, ONDC. “With XpressBees coming onboard, it will strengthen our logistics network, ultimately delivering a thriving e-commerce ecosystem.”
Xpressbees, recently raised $80 million from Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of the C$249 billion Ontario Teachers’ Pension Plan. The new valuation of the firm after this round is $1.5 billion, an incremental increase from its previous valuation of $1.4 billion, according to sources. The company works with several e-commerce firms in the country. This investment will be used to help drive further growth for the Xpressbees platform and support the company’s strong management team with their future ambitions.
India's e-tailing sector is poised to experience a fivefold growth, surging from $59 billion in 2022 to an estimated $300 billion by 2030, fuelled by value-seeking 'mass' consumers, states a report by Redseer Strategy Consultants. The report emphasises the burgeoning adoption of e-commerce in Tier-2 and beyond cities. This, combined with a growing base of 'mass' consumers and the expansion of 3PL (third-party logistics) serviceability, is catalysing shipment volumes. Consequently, these volumes are projected to rise more sharply than GMV growth.
