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Alibaba invested 2 billion 240 million rupees in FirstCry's logistics subsidiary XpressBees
Source:      Date:2018-01-31
According to foreign media dealstreeasia news, Indian media "India times" reported that, according to Paper.vc sources, India enterprise registration Agency (RoC) disclosure documents show that the China e-commerce giant Alibaba has the logistics subsidiary FirstCry company's XpressBees investment of 2 billion 240 million rupees ($35 million).

According to related reports, XpressBees Busybees Logistics Solutions Pvt Ltd has issued 70653 D series of preferred stock to Alibaba.

It has been reported that the Alibaba group has been seeking to invest $100 million in XpressBees.

FirstCry, a well-known infant and pregnant retailer in India, successfully bought Babyoye, the competitor of Ma Hengda, in 2016. XpressBees is a logistics subsidiary of the company, but now it has run independently and has begun to provide logistics services to other online retailers. Its main competitors include Delhivery and Ecom Express.

Before the current round of financing, XpressBees has raised a total of 3 billion 600 million rupees, including Sai Fu investment fund, IDGVentures, Paytm, Vertex Ventures and Pratithi Trust.
 
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