Xpressbees – The Success Story of India’s Leading Logistics Service Provider!

Mandagiri Praveen Kumar Reddy Mandagiri Praveen Kumar Reddy
Aug 2, 2022 7 min read
Xpressbees – The Success Story of India’s Leading Logistics Service Provider!

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Xpressbees.

Receiving and delivering goods are 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 30,000 employees.

If you are willing to learn more about the company, Xpressbess, its funding and investors, business and revenue model, funding rounds, name and tagline, growth and investors, competitors, and more.

Xpressbees - Company Highlights

Startup Name Xpressbees
Sector E-Commerce
Headquarters Pune, Maharashtra, India
Founded 2015
Founders Amitava Saha, Supam Maheshwari
Total Funding $602.4 mn (August 2022)
Revenue $237.40 mn (Rs 1800 crore in FY21)
Valuation $1.2 bn (February 2022)
Parent Organization Busybees Logistics Solutions Private Limited
Website xpressbees.com
Contact customercare@xpressbees.com

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Xpressbees – About
Xpressbees – Industry
Xpressbees – Founders and Team
Xpressbees – Vision and Mission
Xpressbees – Name, Tagline and Logo
Xpressbees – Growth and Revenue
Xpressbees – Funding and Investors
Xpressbees – Business Model and Revenue Model
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 Ecommerce Logistics, Express Cargo, Cross-border Logistics, Fulfillment Services. With modest cutting-edge technology and Reverse Logistics, Xpressbees fulfills the customers’ needs with timely delivery.

Xpressbees – Industry

The logistics and courier delivery services industry is an ever-expanding sector across the globe. Statista refered 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 bn in 2021, which has the potential to grow by $380 bn by 2025. This growth that the courier and logistics industry expects is because of the emergence of the new-age courier and delivery companies and startups that are fuelled by cutting-edge technology.

Xpressbees and other Courier and Logistics Companies Market Share in India
Xpressbees and other Courier and Logistics Companies Market Share in India

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 B.Tech 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.

Supam Maheshwari, Xpressbees Co-founder

Amitava Saha

Amitava Saha is also the Co-founder of FirstCry.com along with being the Co-founder and CEO at Xpressbees. He has been 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 operation.

Amitava Saha - Co-founder and CEO of Xpressbees

The company currently works with more than 3000 employees.

Xpressbees – Vision and Mission

The vision and mission of Xpressbees is to evolve as the best logistics solutions provider with all import and export services.

The XpressBees logo has the words XpressBees delivering happiness on it. The name ‘Xpressbees’ depicts the rapidity of the company in its distribution and conveyance. ‘Delivering Happiness’ is the Tagline of Xpressbees.

Xpressbees logo

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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 3000 employees, 3000+ offices and service centers, 52+ airport connections, and is functional across 2500+ network cities. The company has recently crossed the Rs 1000 crore mark in revenue, as per the latest financial data received during FY21.

In the financial year 2019, the company’s business operations increased by 99.7%, which amounted to INR 540.95 crore, which was INR 270.83 crore in FY18. Xpressbees managed to scale by 32.7% in FY21, with its revenues from operations standing at INR 1004.8 crore, in comparison to the INR 757.2 crore in revenue, which it managed to record during FY20.

Xpressbees Revenue Breakdown

Xpressbees Revenue Verticals FY21 FY20
Revenue from logistics services INR 1004.80 cr INR 75720 cr
Income from interests INR 12 cr INR 3.30 cr
Others INR 3 cr INR 1.70 cr

Apart from the revenue earned from its operations, Xpressbees also earned non-operating income worth INR 15 crore, as a result of its fundraising rounds, which grew by 200% from INR 3.3 crore.

Xpressbees Expenditure Breakdown

Xpressbees Expenses Verticals FY21 FY20
Transportation Cost INR 810.70 cr INR 651.70 cr
Other Operating and Admin Expenses INR 63 cr INR 47.60 cr
Employee Benefit Expenses INR 119.70 cr INR 97 cr
Rent and Utility Costs INR 65.30 cr INR 57.20 cr
Server Hosting Expenses INR 10.60 cr INR 9.50 cr
Legal Professional Charges INR 16 cr INR 2 cr

Xpressbees Financials

Xpressbees Financials FY21 FY20
Operating Revenue INR 1004.80 cr INR 757.20 cr
Total Expenses INR 1085.30 cr INR 865 cr
Profit/Loss INR -102.70 cr INR -65.50 cr
EBITDA Margin -4.79% -10.99%

Xpressbees – Funding and Investors

The Xpressbees funding rounds have helped the company raise $602.4 Million over 10 rounds of funding. The last round that Xpressbees received on August 2, 2022, was worth $24.8 mn (Rs 195 crore), whcih came from Avendus Future Leaders Fund. With this funding, Avendus has revealed that it has picked up minoriy stakes in the unicorn ecommerce-focused end-to-end supply chain solutions provider, from Elevation Capital, an existing backer of Xpressbees.

The company received $10 Million in funding from Alibaba Group on January 3, 2020. It eventually raised 2 other rounds of funding in the next 2 years including the $300 mn round, which the company received on February 9, 2022, and the previous Series E round led by InvestCorp, Norwest, and Gaja Capital, which infused $110 mn of funding. The company turned unicorn by raising $300 mn in funding via its Series F funding round, which made it the 8th Indian unicorn in 2022.

Xpressbees is associated with SAIF Partners, Paytm, Chiratae Ventures, and a lot more ventures. Here's a list of the funding rounds that the company has seen till date:

Date Stage Amount Investors
February 9, 2022 Series F $300M Blackstone Group, TPG Growth, Chrys Capital
November 10, 2020 Series E $110M Gaja Capital, Investcorp, Norwest Venture Partners
January 3, 2020 Series D $10M Alibaba Group
February 20, 2019 Debt Financing $4.45M InnoVen Capital
January 30, 2018 Series D $29.30M Alibaba Group
January 3, 2018 Corporate Round $100M Alibaba Group
February 1, 2017 Venture Round - -
February 19, 2016 Seed A $12.4M -
Spetember 1, 2015 Seed $5M -

Xpressbees – Business Model and Revenue Model

The Xpressbees business model operates on B2B and B2C 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 major source of revenue for Xpressbees also lies in the fulfillment services which comprises warehousing and transportation.


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Xpressbees – Competitors

The major competitors of Xpressbees are:

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.

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, and Ekart Logistics.

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 turnover of Xpressbees?

The total revenue of Xpressbees was recorded at INR 1800 cr ($237.40 mn).

Who is the CEO of Xpressbees?

The CEO of Xpressbees is Amitava Saha.

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