Warburg Pincus backed Ecom Express has drawn a fresh round of funding from CDC Group, the UK’s development finance institution. The Gurgaon headquartered end to end logistics service provider, particularly known for its alignment with the fast growing e-commerce business in the country, has drawn an equity investment of $36 million from the UK finance institution which is slated to assist in its next level expansion.
The modest capital infusion is slated to enhance the penetration of the company within the country in reaching out to the hinterland locations. The company is eyeing at increasing its headcounts from 32,000 employees to 47,000 within the next 1-2 years as part of its expansion programme.
T.A. Krishnan, Co-founder and Chief Executive Officer of Ecom Express said, “We are truly delighted to welcome CDC as our partner. The infusion of capital will help us further expand our delivery footprint in connecting towns and rural centers across the country. Besides expanding reach, the company plans to invest in technology, deploy advanced parcel sortation systems, strengthen network reliability and infrastructure, and finally, make development impact with job creation, environmentally responsible initiatives and gender diversity.”