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    Vikshita Vitthal Gujaran in News

    28-Apr-2023 08:18 AM


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    Xpressbees raises $40 million from Khazanah Nasional Berhad

    Third-party logistics provider Xpressbees has raised $40 million from Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia.
    According to two people with knowledge of the deal, Elevation Capital has sold 4% stake in the company to Khazanah, valuing the new-age logistics provider at $1.2 billion pre-money.
    “There is a huge opportunity for tech-led disruption in logistics.
    We have established a leading brand but are still early in our growth story.
    Khazanah’s disciplined long-term investment approach makes the Malaysian sovereign wealth fund a perfect partner for us in this journey," said Amitava Saha, Founder & CEO Xpressbees.
    The company today is present across 5,000 cities, serving over 20,000 pin codes, and delivers over 2 million packages per day, the release said.

    Source -https://www.livemint.com/companies/start-ups/xpressbees-raises-40-million-from-khazanah-nasional-berhad-11682652990503.html