Xpressbees started its journey within FirstCry, an e-commerce for baby products, in 2012. But in 2015, it became an independent company with Amitava Saha, co-founder and chief operating officer of FirstCry, moving out of FirstCry to become chief executive of Xpressbees. Supam Maheshwari, who co-founded FirstCry and serves as its chief executive, is the other co-founder of Xpressbees.
“We are excited about the market opportunity for end-to-end logistics and supply chain solutions that can meet the needs of a diversified customer base across industries, including e-commerce in India,” said Deepak Dara of Ontario Teachers, in a statement. “Led by a strong team, Xpressbees has established a highly scalable and efficient asset-light model with proven execution capabilities.”
Ontario Teachers’ has invested over $3 billion in India, and identifies it as one its “key strategic” countries.
Xpressbees competes with a handful of established firms and startups, including publicly listed firm Delhivery and Shadowfax, which is in advanced stages of talks to raise about $60 million in a round led by TPG NewQuest, TechCrunch earlier reported.