E-commerce focused logistics company Xpressbees has joined the Open Network for Digital Commerce (ONDC), enabling pan-India delivery services to over 20,000 pin codes.
Through ONDC, XpressBees aims to capitalise on its expertise and establish itself as a key participant in e-commerce industry.
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“XpressBees’ comprehensive logistics infrastructure, including warehouses, delivery centres, and a diverse fleet of vehicles, combined with the ONDC Network’s digital framework, ensures efficient order processing, tracking, and timely deliveries. Moreover, XpressBees’ technology-driven approach allows seamless integration with online marketplaces and retailers, enhancing the end-to-end customer experience,” said the company.
Fundraise
This comes at a time when the company has raised $80 million in its Series G round from Teachers’ Venture Growth (TVG), the late-stage venture and growth investment arm of the $249 billion Ontario Teachers’ Pension Plan.
This investment will be used to help drive further growth for the Xpressbees platform and support the company’s management team with their future ambitions, the company said in a press release.
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The fundraising comes three months after the acquisition of logistics and supply chain firm Trackon by XpressBees. The deal also marked the first acquisition for the e-commerce focused logistics start-up since its inception in 2015.
“At ONDC, our vision is to create an open network that connects buyers, sellers, and intermediaries of all kinds with each other without any digital barriers, and logistics is most definitely a key component of this revolution. With XpressBees coming onboard, it will strengthen our logistics network, ultimately delivering a thriving e-commerce ecosystem”, said T Koshy, MD and CEO, ONDC.