Warburg Pincus to invest Rs. 850 crore in Ecom Express.

Ecom Express, a logistics solutions providers to the Indian e-commerce industry, said an affiliate of Warburg Pincus, a leading global private equity firm focused on growth investing, has committed over Rs 850 crore ($133 million) to the company.

E-commerce fulfilment company, Delhivery, had raised a Series-D round of investment of $85 million in May 2015 led by Tiger Global Management with participation from existing investors, Multiples Alternate Asset Management, Nexus Venture Partners, Times Internet.

Viraj Sawhney, managing director of Warburg Pincus India, said, ‘‘There is a significant need for logistics capacity in India and businesses are seeking reliable service providers who can scale up with them.''
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Ecom Express, headquartered in Delhi, was founded in 2012 by former executives of courier company Blue Dart, who had raised Rs.75.5 crore from private equity firm Peepul Capital. Led by T.A. Krishnan, Ecom Express has grown rapidly to become a leading player in the e-commerce logistics space in less than three years since its inception. The company currently services more than 2,800 pin-codes through more than 320 delivery centers and 8,000 employees in approximately 210 cities, and expects to handle about 50 million packages this year.

BS