Xpressbees gets $80 mn investment from Teachers’ Venture Growth

Mumbai: Third-party logistics platform Xpressbees on Tuesday said it received an investment of $80 million (Rs666 crore) from Teachers’ Venture Growth (TVG), which will help the company drive further growth. TVG is the late-stage venture and growth investment arm of the Ontario Teachers’ Pension Plan. This marks Ontario Teachers’ first investment in India from the TVG platform, Xpressbess said in a statement. TVG has joined a set of marquee investors in the company, which includes Blackstone Growth, TPG Growth, ChrysCapital, Khazanah Nasional Berhad, Alibaba Group, Elevation Capital, Investcorp, Norwest Venture Partners and Gaja Capital, it said.