Latest News | Multiples Invests USD 35 Mn in Instant-XP for Minority Stake

Mumbai, Dec 19 (PTI) Multiples Alternate Asset Management on Thursday said it has made a USD 35-million investment in express logistics company Instant-XP.

The private equity fund will be getting a minority stake in the tech-enabled B2B express logistics company in India, as per a statement.

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The company will use the proceeds for enhancing technological capabilities, expanding network and service offerings and multiplying the revenue growth, its Managing Director and Chief Executive Jasveer Singh said.

Founded by brothers Rajbir and Jasveer Singh, the over 20-year-old Instant-XP is present in Full Container Load (FCL) and Less than Container Load (LCL) space and serves over 500 customers.

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Multiples' Managing Director Sridhar Sankararaman said the investment is a proxy play on India's consumption and industrial activity and added that the logistics sector is transforming from simply moving goods to moving them faster and smarter.

"Customers are re-wiring their supply chain requirements to faster logistical solutions that allow them to reduce inventory and have reliable visibility on shipment," he said.

Multiples has backed over 30 Indian entrepreneurs and managements, including ACKO, Delhivery, Dream Sports, Encube, India Energy Exchange, Kogta Financial, Licious, Milltec, MoEngage, and PVR.

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