Pune-based logistics startup XpressBees raises $110 million

E-commerce-focused logistics startup XpressBees has raised $110 million in Series E funding from Investcorp, Norwest Venture Partners and Gaja Capital. The funding in the new round has come at a valuation of over $400 million for the startup. Pune-based XpressBees started off as online kids products retailer FirstCry's logistics arm but later spun off into an independent entity.