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Receiving and delivering goods are an indispensable part of every industry. Collecting the resources, segregating and allocating the specific deliverer are important measures undertaken to meet the standards of customers. It keeps the stream of the e-commerce industry alive.
Xpressbees is India’s leading logistics service provider and it has a great network of supply chain management across the country. The company was started in 2015 and now, it has more than 30,000 employees.
If you are willing to learn more about the company, Xpressbess, its funding and investors, business and revenue model, funding rounds, name and tagline, growth and investors, competitors, and more.
Xpressbees – Company Highlights
Startup Name | Xpressbees |
---|---|
Headquarters | Pune, Maharashtra, India |
Sector | E-Commerce |
Founders | Amitava Saha, Supam Maheshwari |
Founded | 2015 |
Parent Organization | Busybees Logistics Solutions Private Limited |
Website | xpressbees.com |
Xpressbees – About
Xpressbees – Industry
Xpressbees – Founders and Team
Xpressbees – Vision and Mission
Xpressbees – Name, Tagline, and Logo
Xpressbees – Growth and Revenue
Xpressbees – Funding and Investors
Xpressbees – Acquisitions
Xpressbees – Business Model and Revenue Model
Xpressbees – Competitors
Xpressbees – Future Plans
Xpressbees – About
Xpressbees was started in 2015 by Amitava Saha and Supam Maheshwari. With its exclusive transportation and delivery framework, the company offers a variety of logistics services locally and globally. It names the services as E-commerce Logistics, Express Cargo, Cross-border Logistics, and Fulfillment Services. With modest cutting-edge technology and Reverse Logistics, Xpressbees fulfills the customers’ needs with timely delivery. Xpreebees is associated with brands like Flipkart, ICICI Bank, TATA Cliq, Schneider Electric, and many others.
Xpressbees – Industry
The logistics and courier delivery services industry is an ever-expanding sector across the globe. Statista referred logistics industry as one of the “backbones of international trade worth over 5.7 trillion euros.” The global market size of the logistics industry is over $8.5 trillion.
The Indian logistics market is not alien to growth either. It was last valued at around $250 bn in 2021, which has the potential to grow by $380 bn by 2025. This growth that the courier and logistics industry expects is because of the emergence of the new-age courier and delivery companies and startups that are fuelled by cutting-edge technology.
Xpressbees – Founders and Team
Supam Maheshwari and Amitava Saha are the Founders of Xpressbees.
Supam Maheshwari
Supam founded his first venture FirstCry.com in 2010. He did his B.Tech in Delhi College of Engineering and he is a graduate of IIM Ahmedabad. Supam was the co-founder and CEO of Brainvisa Technologies from 2000-2009, which he started with Amitava Saha and eventually sold it. Maheshwari is currently known as the Co-founder of Xpressbees.
Amitava Saha
Amitava Saha is also the Co-founder of FirstCry.com along with being the Co-founder and CEO at Xpressbees. He was a Btech student at IIT Varanasi and then obtained a PGDM degree from IIM Lucknow. Before founding Xpressbees with Supam, Amitava has served as a Senior Officer at Tata Steel; a Sr. Business Development Executive at NIIT Technologies, and a Business Development Manager at Aricent. He then started with Brainvisa Technologies, where he served as a Director, and a VP, who was eventually promoted to the position of Senior VP. Amitava Saha then decided to found FirstCry, where he served as the Co-founder and COO, after which he founded Xpressbees. He has more than 17 years of experience in sales and operation.
The company currently works with more than 5000 employees.
Xpressbees – Vision and Mission
The vision and mission of Xpressbees is to evolve as the best logistics solutions provider with all import and export services.
Xpressbees – Name, Tagline, and Logo
The XpressBees logo has the words XpressBees delivering happiness on it. The name ‘Xpressbees’ depicts the rapidity of the company in its distribution and conveyance. ‘Delivering Happiness’ is the Tagline of Xpressbees.
Xpressbees – Growth and Revenue
Xpressbees started with 50,000 shipments per day and now it is executing more than 3 million shipments per day. The company has more than 5000 employees, 3000+ offices and service centers, 52+ airport connections, and is functional across 2500+ network cities. The company has recently crossed the Rs 1900 crore mark in revenue, as per the latest financial data received during FY23.
In the financial year 2019, the company’s business operations increased by 99.7%, which amounted to INR 540.95 crore, which was INR 270.83 crore in FY18. Xpressbees managed to scale by 32.7% in FY21, with its revenues from operations standing at INR 1004.8 crore, in comparison to the INR 757.2 crore in revenue, which it managed to record during FY20.
Xpressbees Expenditure Breakdown
Xpressbees Expenses Verticals | FY22 | FY21 | FY20 |
---|---|---|---|
Transportation Cost | Rs 1,527 Crores | Rs 813 Crores | Rs 651.70 Crores |
Other Operating and Admin Expenses | Rs 1,51 Crores | Rs 102 Crores | Rs 47.60 Crores |
Employee Benefit Expenses | Rs 186 Crores | Rs 119 Crores | Rs 97 Crores |
Rent and Utility Costs | Rs 38 Crores | Rs 27 Crores | Rs 57.20 Crores |
Server Hosting Expenses | Rs 11 Crores | Rs 25 Crores | Rs 9.50 Crores |
Legal Professional Charges | Rs 30 Crores | Rs 16 Crores | Rs 2 Crores |
Xpressbees Financials
Xpressbees Financials | FY22 | FY21 |
---|---|---|
Operating Revenue | Rs 1,905 Crores | Rs 1,010 Crores |
Total Expenses | Rs 1,957 Crores | Rs 1,088 Crores |
Profit/Loss | -27% | -63% |
EBITDA Margin | 2.33% | -1.95% |
Xpreesbees’ main source of income, accounting for 99.7% of total revenue, is logistical services. In FY22, the total income was Rs 1,900 crore, according to the annual financial statements submitted to the Registrar of Companies (RoC).
Xpressbees – Funding and Investors
The Xpressbees funding rounds have helped the company raise $642.4 Million over 11 rounds of funding. The last round that Xpressbees received on April 28, 2023, was worth $40 mn , which came from Khazanah Nasoinal. Xpreesbees round of funding in August 2,2022 was worth $ 24.8 mn which came from Avendus Future Leaders Fund. With this funding, Avendus has revealed that it has picked up minor stakes in the unicorn e-commerce-focused end-to-end supply chain solutions provider, from Elevation Capital, an existing backer of Xpressbees.
The company received $10 Million in funding from Alibaba Group on January 3, 2020. It eventually raised 2 other rounds of funding in the next 2 years including the $300 mn round, which the company received on February 9, 2022, and the previous Series E round led by InvestCorp, Norwest, and Gaja Capital, which infused $110 mn of funding. The company turned unicorn by raising $300 mn in funding via its Series F funding round, which made it the 8th Indian unicorn in 2022.
Xpressbees is associated with SAIF Partners, Paytm, Chiratae Ventures, and a lot more ventures. Here’s a list of the funding rounds that the company has seen to date:
Date | Stage | Amount | Investors |
---|---|---|---|
April 28, 2023 | Secondary Market | $40M | Khazanah Nasoinal |
August 2, 2022 | Secondary Market | $24M | Avendus Future Leaders |
February 9, 2022 | Series F | $300M | Blackstone Group, TPG Growth, Chrys Capital |
November 10, 2020 | Series E | $110M | Gaja Capital, Investcorp, Norwest Venture Partners |
January 3, 2020 | Series D | $10M | Alibaba Group |
February 20, 2019 | Debt Financing | $4.45M | InnoVen Capital |
January 30, 2018 | Series D | $29.30M | Alibaba Group |
January 3, 2018 | Corporate Round | $100M | Alibaba Group |
February 1, 2017 | Venture Round | – | – |
February 19, 2016 | Seed A | $12.4M | – |
September 1, 2015 | Seed | $5M | – |
Xpressbees – Acquisitions
Xpressbees, has recently acquired Trackon, a courier-based business that was founded in January 2002. Over 5000 pin codes have been served, and more than 2 lakh consignments have been handled since it began with two sites in Delhi and Mumbai. It currently has a presence all across the nation.
Xpressbees – Business Model and Revenue Model
The Xpressbees business model operates on B2B, B2C, Cross Border & 3PL Logistic Service Provider models. Their B2B business model involves providing services to other companies and online markets. B2C E-Commerce model includes selling goods to the end customers. The cross-border strategy is focused on offering customers a straightforward, seamless door-to-door service, regardless of the amount of luggage that needs to be transported. 3PL Logistic business model involves of commitment of outsourcing its distribution services to third-party logistics businesses. The major source of revenue for Xpressbees also lies in the fulfillment services which comprises warehousing and transportation.
Xpressbees – Competitors
The major competitors of Xpressbees are:
Xpressbees withstands its position with an expansive network and matchless logistics services.
Xpressbees – Future Plans
The company works towards widening its partnership with industries and expanding its network with more centers, increased shipments, stronger connections, and infrastructure.
“We continue to stay focused on growth and capability enhancement, as we strive to become the leading logistics provider in the country. The funds will be deployed largely for growth and infrastructure enhancement” said, Amitava, Co-founder of Xpressbees.
Xpreesbees, founder Amitava Saha with recent acquiring of Trackon said ” Trackon is a Rs 350-crore revenue firm and with our scale and reach the combined strengths will help improve the bottom line of our firm as well”, Moreover, moving forward, Trackon will see technological advancements.
FAQs
Who is the owner of XpressBees?
Xpressbees is owned by Busybees Logistics Solutions, which was founded by Amitava Saha and Supam Maheshwari.
Who are the XpressBees competitors?
Some XpressBees competitors are Ecom Express, Delhivery, FSC, Ekart Logistics and DTDC.
How does the XpressBees Revenue model work?
The major source of revenue for Xpressbees also lies in the fulfillment services which comprises warehousing and transportation.
What is the revenue of Xpressbees?
The total revenue of Xpressbees was recorded around INR 1900 Crore in FY22.
Who is the CEO of Xpressbees?
The CEO of Xpressbees is Amitava Saha.
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