Leading global PE firm Warburg Pincus has invested Rs 850 crore in Delhi based Ecom Express...
Leading global PE firm Warburg Pincus has invested Rs 850 crore in Delhi based Ecom Express, a leading logistics solutions provider to India’s e-commerce industry.
Ecom Express was set up in 2012 and the company says it currently services more than 2,800 pin codes through more than 320 delivery centres and 8,000 employees in approximately 210 cities. It expects to handle about 50 million packages this year.
Krishnan, chief executive of Ecom Express, said the capital infusion will help the company to expand its delivery footprint in Tier III, IV towns and rural centres across the country. “Besides expanding reach, the company plans to invest in technology, deploy advanced parcel sortation systems, strengthen network reliability and infrastructure”, Krishnan added.
Viraj Sawhney, managing director of Warburg Pincus India, said, “There is a significant need for logistics capacity in India to serve the requirements of the e-commerce industry, and businesses are seeking reliable service providers who can scale up with them. We look forward to supporting the management of Ecom Express and building on their success.”
Warburg Pincus has more than $35 billion in assets under management.