Alibaba puts Rs 224 crore in FirstCry’s logistics arm

BENGALURU: China’s ecommerce giant Alibaba has put Rs 224 crore ($35 million) in XpressBees, the logistics arm of FirstCry, according to regulatory documents filed with the Registrar of Companies (RoC).

ET had reported in its January 1 edition that Alibaba is in advanced talks to invest up to $100 million in XpressBees. Part of the overall investment, which is expected to happen in multiple tranches, is also a secondary purchase of shares from existing investors.

The investment was made by issuing 70,653 series-D preference shares to Alibaba, as per the filings sourced from data-tracking platform Paper.vc.


This financing underscores Alibaba’s attempt to create a robust global logistics network, which can bolster the growth of ecommerce.

In response to ET’s email query, an Alibaba spokesperson said, "XpressBees is focused on delivering a superior customer experience. Alibaba’s investment will strengthen their value proposition and benefit customers".

XpressBees, which competes with Delhivery and Ecom Express, is the logistics business spun out of baby and maternity products retailer FirstCry. The business has been built by First-Cry founders Supam Maheshwari and Amitava Saha. After they split, Saha has been heading the logistics business.

Other investors in XpressBees include the likes of SAIF Partners, IDG Ventures India, NEA, Vertex Ventures and Valiant Capital.

XpressBees is Alibaba’s sixth investment in the Indian market, which will help support its other investments like in payments company Paytm, its ecommerce platform Paytm Mall and online grocer BigBasket.