Source: Reuters

Bahrain’s Investcorp said on Sunday it has made an investment in Xpressbees, an Indian logistics startup, as part of a consortium of local and global investors.

Xpressbees has a presence in more than 2,000 towns and cities in India, with more than 1,000 customers across industries including e-commerce, pharmaceutical, consumer goods, retail, manufacturing, electronics and consumer durables.

Investcorp did not disclose the size of its investment, but said it was part of a Series E round - a late stage funding round to scale up a business.

Indian newspaper reports have reported that Xpressbees raised $110 million in its latest funding round.