<p>E-commerce behemoth Alibaba is reportedly investing $10 million( about 71 crore) in e-commerce logistics firm XpressBees, filings made by the company to the Ministry of Corporate Affairs revealed.</p>.<p>The filings sourced from business intelligence platform paper.vc state that Alibaba is picking up 9,317 Compulsorily convertible non participating preference share for about $ 1,073 per share. </p>.<p>According to paper.vc, this investment appears to be an extension of the Series D round raised by XpressBees in 2017. Alibaba had invested $35 million in that round via Alibaba.com Singapore E-Commerce Private Limited.</p>.<p>Xpressbees started out as the logistics arm of First Cry. It had become an independent venture in 2015. The company has reported about $157 million till date.</p>
<p>E-commerce behemoth Alibaba is reportedly investing $10 million( about 71 crore) in e-commerce logistics firm XpressBees, filings made by the company to the Ministry of Corporate Affairs revealed.</p>.<p>The filings sourced from business intelligence platform paper.vc state that Alibaba is picking up 9,317 Compulsorily convertible non participating preference share for about $ 1,073 per share. </p>.<p>According to paper.vc, this investment appears to be an extension of the Series D round raised by XpressBees in 2017. Alibaba had invested $35 million in that round via Alibaba.com Singapore E-Commerce Private Limited.</p>.<p>Xpressbees started out as the logistics arm of First Cry. It had become an independent venture in 2015. The company has reported about $157 million till date.</p>
