Funding round
XpressBees Series G
XpressBees, which works in logistics solutions development in Pune, raised $80M in a Series G round announced on 7 Nov 2023, led by Ontario Teachers’ Pension Plan, at a $1.40B post-money valuation. 6 firms took part. It is XpressBees' fifth venture round on record; the one before was a Growth in Apr 2023.
$80M
Amount raised
$1.40B
Post-money valuation
$1.32B pre-money
6
Investors
1 lead
1.2x
Step-up from the Growth
$1.20B in Apr 2023
5.7%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced XpressBees at $1.40B after the new money, 1.2 times the $1.20B of its Growth (Apr 2023). The $80M bought investors about 5.7% of the company. It came 7 months after XpressBees' Growth. It is 15% of the $540M XpressBees has raised in the venture rounds on record. No later venture round is on record for XpressBees.
XpressBees' funding rounds
XpressBees has 5 venture rounds on record. This one is highlighted.
- Series D 2 Jan 2020 $10M
- Series E 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 this round 7 Nov 2023, led by Ontario Teachers’ Pension Plan $80M$1.40B post-money
Investors
Who put money in
Ontario Teachers’ Pension Plan led the round with 5 other firms.
Lead investor
- Ontario Teachers’ Pension Plan backs 35 venture-backed companies new investor
Also in the round
- Blackstone backs 83 venture-backed companies new investor
- TPG backs 114 venture-backed companies new investor
- backs 8 venture-backed companies new investor
- backs 12 venture-backed companies new investor
- Alibaba new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, scaling operations and working capital.
- Geographic expansion
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time: Series G rounds in any sector within 6 months:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| VideoAmp Tech Companies | 13 Sep 2023 | $150M | $1.40B | Vista Credit Partners |
| Plastics Products | 3 Aug 2023 | $125M | not disclosed | GenZero |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did XpressBees raise in its Series G round?
XpressBees raised $80M in its Series G round, announced in Nov 2023.
Who led XpressBees' Series G round?
Ontario Teachers’ Pension Plan led it, with Blackstone, TPG, ChrysCapital, Khazanah Nasional and Alibaba.
What was XpressBees' valuation at the Series G round?
$1.40B post-money ($1.32B pre-money).