UK’s impact investor CDC bets on India’s sustainable businesses; backs e-commerce logistics company

Warburg Pincus-backed e-commerce logistics service provider Ecom Express has raised $36 million from the UK’s development finance institution and impact investor CDC Group, the company announced on Tuesday. Incorporated in 2012, Ecom Express delivers to over 25,000 pin codes across 29 states in India. The company had last raised $30 million from Warburg Pincus. The amount will be spent on network expansion apart from enhancing its number of employees from 32,000 to 47,000 with a focus on increasing in women workforce in one-two years. “In Ecom Express, we have a partner company that recognises the vital importance of creating a genuinely sustainable and gender-inclusive business,” said Srini Nagarajan, Managing Director and Head of Asia CDC. Among its other startup investments are Axis Rooms, BookMyForex, Chumbak, Delhivery, Milk Mantra, BigBasket etc.