Bangalore: Gurgaon based e-Commerce logistics solutions provider startup Ecom Express raises $132.73 million from Warburg Pincus. The fund will be utilized to enlarge its delivery footprint in Tier III & IV towns and rural centres across the country. The company also expects to deploy the funds to upgrade technology and reinforce network consistency and infrastructure. In 2013, the company had raised $1.5 million in an angel round of funding from Oliphans Capital and above Rs.100 crore from Peepul Capital last year.
Launched its operations in 2013 by T A Krishnan – who helped start the e-Commerce business Blue Dart, Ecom Express Private Limited is a company promoted by the veterans of the Express Industry of India. The firm operates security, transportation to over 100 plus cities, in highly sophisticated and armored GPS enabled security vans with qualified personnel ensure intense scrutiny of all cargo. Focused on logistics services for the booming e-Commerce industry, the firm claims to service more than 2,800 pin-codes through more than 320 delivery centers along with 8,000 employees in about 210 cities.
Expanding its reach, the firm claims to handle about 50 million packages by the upcoming year. It also aims to service over 10,000 pin codes covering more than 1,500 towns and cities across the country, over the next few years.