Alibaba to invest in logistics startup XpressBees again

December 26, 2019: E-commerce giant Alibaba plans to invest $10 million in Pune based logistics startup XpressBees in an extension of the $35 million investment during Series D round in 2017, as revealed by the regulatory filling.

In an extraordinary general meeting of Busybees Logistics Solutions (XpressBees) on December 16, 2019, the company has allotted 9,317 Series D1 compulsorily convertible preference shares at a price equivalent to $1,073.306 each to Alibaba, reports by Business Standard.

Founded in 2015, the e-commerce logistics startup provides first mile, last mile and reverse logistics services with real-time tracking, multiple payment collection and processing facilities.