Funding round
XpressBees Series E
XpressBees, which works in logistics solutions development in Pune, raised $110M in a Series E round announced on 10 Nov 2020, led by Investcorp, Norwest and Gaja Capital. 3 firms took part. It is XpressBees' second venture round on record; the one before was a Series D in Jan 2020.
$110M
Amount raised
Not disclosed
Post-money valuation
3
Investors
3 leads
Valuation
What this round says about the price
XpressBees did not disclose a valuation in this round. It came 10 months after XpressBees' Series D. It is 20% of the $540M XpressBees has raised in the venture rounds on record. XpressBees raised again 15 months later: a Series F round of $300M in Feb 2022, at $1.20B post-money.
XpressBees' funding rounds
XpressBees has 5 venture rounds on record. This one is highlighted.
- Series D 2 Jan 2020 $10M
- Series E this round 10 Nov 2020, led by Investcorp, Norwest and Gaja Capital $110M
- Series F 9 Feb 2022, led by Blackstone, TPG and ChrysCapital $300M$1.20B post-money
- Growth 27 Apr 2023, led by Khazanah Nasional $40M$1.20B post-money
- Series G 7 Nov 2023, led by Ontario Teachers’ Pension Plan $80M$1.40B post-money
Investors
Who put money in
Investcorp, Norwest and Gaja Capital led the round.
Lead investors
- backs 18 venture-backed companies new investor
- Norwest backs 215 venture-backed companies new investor
- backs 9 venture-backed companies new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, scaling operations and working capital.
- Product development
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: 1 in Shipping Couriers, then Series E rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Lalamove Shipping Couriers | 22 Dec 2020 | $515M | $8.00B | HSG and Sequoia Capital |
| CARS24 Automobile Dealers & Manufacturers | 24 Nov 2020 | $200M | $1.00B | DST Global |
| Cato Networks Tech Companies | 17 Nov 2020 | $130M | $1.00B | Lightspeed Venture Partners |
| Forter Tech Companies | 19 Nov 2020 | $125M | $1.30B | Bessemer Venture Partners and Felix Capital |
| Addepar Tech Companies | 18 Nov 2020 | $117M | not disclosed | WestCap |
| Tech Companies | 12 Nov 2020 | $100M | $800M | Vista Equity Partners |
| Medical Supply Manufacturers | 16 Nov 2020 | $65M | not disclosed | OMRON and Khosla Ventures |
| Tech Companies | 24 Nov 2020 | $23M | not disclosed | Pitango |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did XpressBees raise in its Series E round?
XpressBees raised $110M in its Series E round, announced in Nov 2020.
Who led XpressBees' Series E round?
Investcorp, Norwest and Gaja Capital led it.
What was XpressBees' valuation at the Series E round?
It was not disclosed.
Did XpressBees raise again after this round?
Yes: a Series F round in Feb 2022 of $300M at $1.20B post-money.