Third-party logistics provider Xpressbees has raised $300 million in a Series F funding round at a valuation of $1.2 billion. The round was led by private equity funds Blackstone Growth, TPG Growth, and ChrysCapital. Existing investors, Investcorp, and Norwest Venture Partners also participated in the latest round.
With this round, the total amount of capital raised by Xpressbees exceeds $500 million. Avendus Capital acted as the exclusive financial advisor to Xpressbees on this transaction.
Xpressbees, in a statement, said it will use the fresh capital to become a full-service logistics organization, support the business in its next phase of growth, product development, and hire talent.