Avendus Capital advises Xpressbees on its USD 80 mn investment from Ontario Teachers' Pension Plan (OTPP)

We believe the logistics sector is at the cusp of technological disruption and this is the right time to expand service offerings to address the growing needs of businesses and consumers. We are elated to partner with the TVG team who bring rich experience and a vast global network which will help as we scale our end-to-end platform to cater to the next level.

We are excited about the market opportunity for end-to-end logistics and supply chain solutions that can meet the needs of a diversified customer base across industries, including e-commerce in India. Led by a strong team, Xpressbees has established a highly scalable and efficient asset-light model with proven execution capabilities. We are delighted to partner with Amitava and the Xpressbees team in executing their vision to build an industryleading business.

Xpressbees aligns with our TVG thesis for Asia - partnering with exceptional management teams looking to leverage technology to accelerate growth in an attractive end market that has a long runway for innovation and development. India is a critical market for our TVG Asia strategy, where we look to lead or co-lead rounds, and Xpressbees is a culmination of one such proprietary opportunity. We are excited to partner with Amitava and leverage our global network and playbook to drive long-term value creation for the business.

Xpressbees’ India-first solutioning approach, coupled with their highly scalable tech stack and capital-efficient execution has enabled them to best address India’s unorganised logistics sector. The market is seeing strong
interest for high quality businesses and this investment from OTPP is a clear testament that this momentum will continue.