Xpressbees was founded as the logistics arm of FirstCry, an online retailer of baby products, before being incorporated as an independent company in 2015.[6] Its early investors included SAIF Partners (now Elevation Capital), IDG Ventures, and Vertex Ventures.[7] In 2017, Alibaba Group invested approximately $35 million in the company.[8][9]
By 2020, Xpressbees had expanded beyond e-commerce delivery to provide third-party warehousing and heavy cargo services.[10] In the same year, it raised about ₹800 crore (US$110 million) from a consortium including Investcorp, Norwest Venture Partners, and Gaja Capital.[11][9] In February 2022, the company secured US$300 million in a Series F round led by Blackstone Growth, TPG Growth, and ChrysCapital, which brought its valuation above US$1 billion.[12][13]
Subsequent funding included US$40 million from Khazanah Nasional Berhad in early 2023[14] and US$80 million from the Ontario Teachers’ Pension Plan in November 2023.[14][15]
Partnerships and acquisitions
In February 2021, Xpressbees acquired NimbusPost, a shipping aggregation service provider.[16] In June 2021, the company announced a partnership with Unicommerce, a supply chain software platform. The following month, it entered into a strategic partnership with SpiceXpress,[17] the cargo division of SpiceJet, to support air-freight operations across select Indian cities.[18]
In August 2023, Xpressbees acquired Trackon Courier, a New Delhi-based courier company, in an all-cash transaction.[19] The company is also a logistics partner on the Government of India's Open Network for Digital Commerce (ONDC).[20]
Operations
As of March 2025, Xpressbees stated that it operated about 4,500 service centres and 250 hubs,[21][22] and engaged more than 28,000 delivery partners.[5]
Recognition
In March 2025, Fortune India included XpressBees among five logistics ventures profiled in its Most Promising Startups issue.[5]
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₹1,904.4 crore (FY22) [1] 
₹−27.1 crore (2022) [1]