Express logistics service provider specializing in E-commerce, XpressBees has raised $110 million in series E funding round led by Investcorp, Northwest Venture Partners, and Gaja Capital.

The three investors have collectively acquired a 31 percent stake in the company. XpressBees had earlier raised $10 million in series D financing round from existing investor Alibaba back in January. With the current fund raise, the company’s total capital raised so far has reached $175 million.

Spun out of FirstCry, the E commerce unicorn, XpressBees was incorporated as a separate entity in 2015. Amitava Saha, then co-founder and COO of FirstCry moved out of the firm to handle the reigns of XpressBees as CEO. He was joined by Supam Maheshwari, co-founded FirstCry who currently serves as ExpressBees CEO as well.

The company provides end to end supply chain solutions to major e-commerce giants such as Flipkart, meesho, Landmark, Bewakoof, Myntra, SnapDeal, Purplle to name a few. XpressBees currently has a network of over 1900 cities covered by over 30,000 delivery executives. The company handles over 2.5 million shipments every day. The new infusion of capital will be utilized by the company to further automate our hubs and sort centres, increase investments in technology and to expand its delivery footprint to cover the entire country.

“We continue to believe that new age technology led logistics players such as Xpressbees will continue to play a pivotal role both in the growth of the E-commerce sector in India and the transformation of the $ 200 billion Indian logistics industry,” said Niren Shah, MD & Head, NVP India.