Investcorp acquires 20Cube 3PL Solutions

Investcorp, a global alternative investment firm, on Wednesday announced that it has acquired 20Cube 3PL Solutions (“20Cube”), a leading digital-first contract logistics platform in India, for approximately Rs 500 crore. Through this investment, Investcorp will back the current founding team of Anand Seetharaman and Ranjan Kedia to accelerate 20Cube's next phase of growth by expanding its service offerings to cater to the growing demand from the rising manufacturing activity in India. In addition, 20Cube and Investcorp will seek to invest another INR 500-750 crore to acquire synergistic contract logistics businesses.

The transaction involves the carve-out of the India contract logistics business from Singapore-headquartered 20Cube Logistics, which will continue to focus on its core business of international freight forwarding. The India contract logistics business currently operates over 7 million square feet of warehousing space, serving large enterprise customers across the consumer durables, chemicals, automotive components and engineering goods sectors. It plans to scale to over 20 million square feet of warehousing space over the next four to five years.

Gaurav Sharma, Head of India Investment Business at Investcorp, said: “We are pleased to announce the acquisition of 20Cube, in partnership with the founders Anand and Ranjan, as the company embarks on its next phase of growth. This investment reflects our continued conviction in India's rapidly evolving contract logistics sector, where we currently participate through NDR Warehousing and Miebach Consulting. As India's supply chains continue to modernize, we look forward to working closely with 20Cube's leadership to scale a technology-enabled logistics platform that creates lasting value for customers, employees, and stakeholders.”


Anand Seetharaman, Managing Director, 20Cube 3PL Solutions, said: “This investment marks a defining milestone in 20Cube’s growth journey. Over the years, the team has built a customer-centric, service-first, and digitally enabled contract logistics platform for executing scalable, high-efficiency supply chain solutions. With Investcorp’s global institutional backing and deep sector expertise, we are well positioned to accelerate our technology capabilities, expand our pan-India network, and deliver enhanced value across India's rapidly modernizing logistics ecosystem.”

Ranjan Kedia, Chief Executive Officer, added: “As we embark on this exciting growth journey, our commitment to our customers remains paramount. With our existing management team firmly at the helm, we offer our clients seamless continuity, operational rigor, and an unwavering commitment to service excellence.”

Varun Laul, Partner at Investcorp, added: “In a market largely driven by fixed-space, manpower-based contracts, 20Cube differentiates itself with on-demand multi-client warehousing that seamlessly integrates transportation and other value-added services. Not only does this deliver greater value for customers, it also creates a more resilient business. 20Cube, with its focus on consumer durables, automotive components, chemicals and engineering goods, is extremely well-placed to benefit from increasing manufacturing activity resulting from the ‘Make in India’ program.”

Investcorp’s India team focuses on growth-stage investments across consumer, healthcare, financial services, software and business services, with a preference for businesses that leverage technology to drive scale and operational excellence. Its investments in India include Global Dental, Wakefit, Canpac, NuSummit, Easy Home Finance, Xpressbees, Nephroplus, Safari Industries, NDR Warehousing, InCred, Citykart, Zolo, Fresh to Home, ASG Eye Hospitals, Intergrow Brands, Unilog, V-Ensure, Insurance Dekho, and Wingreens.

On this transaction, Ernst & Young LLP served as the financial and tax advisor and Anagram Partners as legal counsel to Investcorp, while IndigoEdge served as financial advisor to 20Cube.