Logistics e-commerce firm Xpressbees gets Rs 85 cr funding from SAIF Partners, IDG Ventures

Busybees Logistics Solutions, which operates under 'Xpressbees' brand, has raised $12.5 million (nearly Rs 85.43 crore) funding from existing investors, including SAIF Partners, IDG Ventures India, NEA, Vertex Ventures and Valiant Capital.[caption id="attachment_2555132" align="alignleft" width="380"] Reuters[/caption]Incubated by the founding team of Ratan Tata-backed FirstCry.com, Xpressbees started operations in September last year. Xpressbees is an e-commerce logistics specialist company, providing reliable and fast logistics solutions to its partners. It delivers over 60,000 shipments daily."Xpressbees has rapidly expanded in the last couple of months... We plan to use the funds (Series A) to primarily invest in strengthening our technology and processes further raising the bar on service levels," Xpressbees founder and CEO Amitava Saha said.Xpressbees competes with e-tailing-focused logistics players like Tiger Global-backed Delhivery and Warburg Pincus-backed Ecom Express.PTI