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PE firm Warburg Pincus plans to invest over $133 mn in logistics startup Ecom Express

Private equity firm Warburg Pincus has reportedly committed to invest over $133 million in Delhi-based e-commerce focused logistics solutions provider Ecom Express Pvt Ltd, reports VCCircle.

Private equity firm Warburg Pincus has reportedly committed to invest over $133 million in Delhi-based e-commerce focused logistics solutions provider Ecom Express Pvt Ltd, reports VCCircle.

Ecom Express was founded in 2012 by a team of four – T A Krishnan (CEO), K Satyanarayana, Manju Dhawan and Sanjeev Saxena. Krishnan has over 25 years of experience in courier and express delivery services and has spent much of his working life at Blue Dart (now owned by DHL). 

At present, the company employs 8,000 people and has presence in 210 cities and 320 delivery centres across the country. It expects to handle about 50 million packages this year and aims to cover more than 1,500 towns and cities over the next few years. 

“The infusion of capital will help us expand our delivery footprint in tier III, IV towns and rural centers across the country. Besides expanding reach, the company plans to invest in technology, deploy advanced parcel sorting systems, strengthen network reliability and infrastructure and build the second level management team,” Krishnan was quoted in the report as saying. 

“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,” Viraj Sawhney, managing director of Warburg Pincus India Pvt Ltd told VCCircle. 

This is the first new investment in India by the marquee global PE firm this year. Last year, it backed Kalyan Jewellers with $196 million. 

Last month, another e-commerce focused logistics firm Delhivery raised $85 million from Tiger Global, Multiples Alternate Asset Management, Nexus Venture Partners and Times Internet Ltd.

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