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Receiving and delivering goods is 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 10,001 employees.
Here are the most recent developments about Xpressbees, including its funding and investors, company and revenue strategy, funding rounds, name and slogan, 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 – Business Model and Revenue Model
Xpressbees – Funding and Investors
Xpressbees – Growth and Revenue
Xpressbees – Partnership
Xpressbees – Product and Service
Xpressbees – Acquisitions
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. Xpressbees 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 billion in 2021, which has the potential to grow by $380 billion by 2025. This growth that the courier and logistics industry expects is because of the emergence of 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 BTech 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 operations.
The company currently works with more than 10,001 employees.
Xpressbees – Vision and Mission
The vision and mission of Xpressbees are to evolve as the best logistics solutions provider for 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's distribution and conveyance. ‘Delivering Happiness’ is the Tagline of Xpressbees.
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.
Vibhavari Madki
Xpressbees – Funding and Investors
The Xpressbees funding rounds have helped the company raise $622.4 million over 11 rounds of funding. The last round that Xpressbees received on November 6, 2023, was worth $80 million , which came from Teacher's Venture Growth.
| Date | Stage | Amount | Investors |
|---|---|---|---|
| November 6, 2023 | Series G | $80 million | Teachers’ Venture Growth |
| April 28, 2023 | Secondary Market | $40 million | Khazanah Nasoinal |
| August 2, 2022 | Secondary Market | $24 million | Avendus Future Leaders |
| February 9, 2022 | Series F | $300 million | Blackstone Group, TPG Growth, Chrys Capital |
| November 10, 2020 | Series E | $110 million | Gaja Capital, Investcorp, Norwest Venture Partners |
| January 3, 2020 | Series D | $10 million | Alibaba Group |
| February 20, 2019 | Debt Financing | $4.45 million | InnoVen Capital |
| January 30, 2018 | Series D | $29.30 million | Alibaba Group |
| January 3, 2018 | Corporate Round | $100 million | Alibaba Group |
| February 1, 2017 | Venture Round | - | - |
| February 19, 2016 | Seed A | $12.4 million | - |
| September 1, 2015 | Seed | $5 million | - |
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 5,000 employees, 3,000+ offices and service centers, 52+ airport connections, and is functional across 2,500+ network cities.
Financial
| Xpressbees Financials | FY21 | FY22 |
|---|---|---|
| Operating Revenue | Rs 1,010 crore | Rs 1,905 crore |
| Total Expenses | Rs 1,088 crore | Rs 1,957 crore |
| Profit/Loss | Loss of Rs 63 crore | Loss of Rs 27 crore |
| Cash from Ops | Deficit of Rs 4 crore | Surplus of Rs 61 crore |
Operating revenue for the company increased by 33% to Rs 2,531.5 crore in the reviewed year FY23 from Rs 1,904.4 crore in FY22.
Higher cash burn caused Xpressbees net loss to increase by more than 6.6X in the fiscal year that concluded on March 31, 2023. In FY23, the company declared a net loss of Rs 180.4 crore, up 566% from Rs 27.1 crore in FY22.
Xpressbees Expenditure Breakdown
Xpressbees total expense rises from Rs 1,088 crore in FY21 to Rs 1,957 crore in FY22.
Below are the expense breakdown:
| Xpressbees Expenses Verticals | FY21 | FY22 |
|---|---|---|
| Logistics Cost | Rs 813 crore | Rs 1,527 crore |
| Others | Rs 102 Crore | Rs 151 crore |
| Employee Benefit Expenses | Rs 119 crore | Rs 186 crore |
| Rent | Rs 27 crore | Rs 38 crore |
| Hosting Charge | Rs 11 crore | Rs 25 crore |
| Legal Professional Charges | Rs 16 crore | Rs 30 crore |
Xpressbees total expenses rises from Rs 1,527 crore in FY22 to Rs 2784.7 crore in FY23.
EBITDA
Xpressbees showed financial improvement in FY21–FY22, as seen by an increase in EBITDA margin from -1.95% in FY21 to 2.33% in FY22. Cost efficiency is demonstrated by the fact that operating expenses per unit of revenue dropped from Rs 1.08 in FY21 to Rs 1.03 in FY22. Nonetheless, ROCE continued to be negative, dropping from -8.1% in FY21 to -1.11% in FY22.
| Xpressbees FY21-FY22 | FY21 | FY22 |
|---|---|---|
| EBITDA Margin | -1.95% | 2.33% |
| Expense/Rs of Op Revenue | Rs 1.08 | Rs 1.03 |
| ROCE | -8.1% | -1.11% |
The company EBITDA margin dropped to -1.7% in FY23 from 2.3% in FY22.
Vidhi Punamiya
Xpressbees - Partnership
SpiceXpress
On July 26, 2021, Xpressbees declared that, in an effort to bolster its position in the logistics industry, it had formed an exclusive strategic business partnership with SpiceXpress.
ONDC
The Open Network for Digital Commerce (ONDC) and e-commerce logistics company Xpressbees have partnered up on November 23, 2023, to provide broad delivery services throughout 20,000 pin codes in India.
Xpressbees - Product and Service
Same Day, Next Day Deliveries for D2C brands
On June 21, 2022, Xpressbees introduced same-day delivery (SDD) and next-day delivery (NDD) platforms aimed at traditional brands and direct-to-consumer (D2C) businesses.
XPRESSATHON
Declare that in December 2021, Xpressbees will present "Xpressathon," the first-ever pan-Indian coding innovation contest. Developers, analysts, and the programming community are invited to take part in Xpressathon, a virtual challenge, and create solutions that could potentially address some of the real-time logistic
Xpressbees – Acquisitions
Xpressbees, has recently acquired Trackon, a courier-based business that was founded in January 2002. Over 5,000 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 has a presence all across the nation.
Xpressbees – Competitors
The major competitors of Xpressbees are:
- Ecom Express
- Delhivery
- DTDC
- FSC
- Ekart Logistics
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 the recent acquisition 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 operating revenue of Xpressbees?
The operating revenue of Xpressbees was recorded around Rs 2,531.5 crore in FY23.
Who is the CEO of Xpressbees?
The CEO of Xpressbees is Amitava Saha.
