Xpressbees, the logistics arm of IDG-backed babycare retailer FirstCry, has attracted funding from Vertex Venture and SAIF Partners.
Xpressbees, the logistics subsidiary of India-based babycare product retailer FirstCry, has raised $8m in series A capital, the Times of India reported yesterday.
The funding came from Vertex Venture Holdings, the venture capital arm of Singapore’s sovereign wealth fund Temasek, and private equity firm SAIF Partners, both of which also shareholders in FirstCry.
Xpressbees originally launched as FirstCry’s dedicated logistics unit but has since expanded to offer its service to third-party e-commerce companies such as online marketplace Snapdeal.
The funding…
