Logistics and supply chain unicorn Xpressbees, has completed the acquisition of Trackon, a notable courier company. Through this strategic move, Xpressbees is now positioned to venture into the realm of Small and Medium Enterprises (SMEs), capitalising on the extensive franchisee network possessed by Trackon.

Amitava Saha, the Founder & CEO of Xpressbees, conveyed to CNBC-TV18 that their blueprint involves significant business expansion through the nationwide reach of Trackon. Their aspiration is to establish Trackon as a pan-India presence, thereby unlocking exponential growth.

With a commitment to providing comprehensive end-to-end solutions within the supply chain domain, Xpressbees currently runs its delivery operations across more than 21,000 pin codes, spanning a network encompassing over 3,000 cities and towns within India.

While the fiscal year of 2022 saw Xpressbees securing profitability, the subsequent FY23 was met with formidable challenges. Nevertheless, Amitava Saha retains a positive outlook, aiming to restore profitability in FY24. Notably, Saha underlined the organisation's willingness to pursue further acquisitions, provided they align with strategies which can be leveraged.

Earlier in February 2021, Xpressbees had acquired and added shipping solutions startup NimbusPost to its portfolio.

Moreover, online meat delivery startup Zappfresh recently acquired Dr. Meat to enter the southern market. Deepanshu Manchanda, the founder of Zappfresh, shared with CNBC-TV18's Aishwarya Anand that the company is aiming to achieve revenue of Rs 200 crore by fiscal year 2023-24. Manchanda highlighted that the startup has not only maintained operational profitability but sustained it over the course of the past four years.

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First Published:Aug 14, 2023 9:41 PM IST