Delhi-headquartered logistics solutions provider Ecom Express is hoping to service 10,000 pincodes across India in a few years’ time. Last week, the company announced that it had received an investment commitment of over Rs 850 crore ($133 million) from an affiliate of Warburg Pincus, a leading global private equity firm.
Ecom Express currently services more than 2,800 pin-codes through more than 320 delivery centres. The company 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.
T A Krishnan, chief executive officer of Ecom Express was quoted as as saying, ‘‘The infusion of capital will help us expand our footprint in Tier III, IV towns and rural areas.”
Ecom Express wants to service over 10,000 pincodes covering more than 1,500 towns and cities over the next few years.