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Leading logistics solution company is looking to extend its wing and expand further with $30 Mn (approx. INR192 Cr) from one of the globally acclaimed and existing investor Warburg Pincus.
With this investment ECom Express will look forward to service additional pincodes and increase the volume of the client servicing. The company was founded by T A Krishnan, Manju Dhawan, K Satyanarayana and Sanjeev Saxena. The company provides end to end logistics solution and facilitates first-mile pickup, processing, network optimization and last mile delivery. Currently the headcount with which the logistics company is managing the show amounts to 14000 personnel.
Earlier this year the company had launched more than 6000 more pincodes in its services in the areas of Punjab, Gujarat, Maharashtra, Bihar and West Bengal. Company’s investment Partner Warburg Pincus is New York based Global Private Equity firm that focusses on Growth Investing. At present it has more than $40 Bn in PE (Private Equity) assets under management in more than 120 companies worldwide.
The Logistics market is going to see an upsurge majorly in Tier 2 and Tier 3 cities with the mobile Internet penetration and Ecommerce companies like Flipkart, Alibaba and Amazon making a complete roadmap to onboard the new internet users in India. Most of the Ecommerce companies have failed miserably over managing logistics operations and have closed their logistic wings in the recent past. Hence companies like ECom Express which has Logistics solution in their DNA, are expected to flourish through their years of expertise and ability to capture market through their network of logistic partners in India.