Multiples acquires minority stake in logistics company INSTANT-XP for $35M
Multiples focuses on core sectors of financial services, pharma and healthcare, consumer and technology and more recently the green economy.
Multiples, an Alternate Asset Management company has acquired a minority stake in INSTANT-XP a tech-enabled B2B express logistics company.
Founded by brothers Rajbir Singh and Jasveer Singh, INSTANT-XP, is a express logistics company. It has proprietary functional technology for customers, consignors, truckers, drivers and other stakeholders in the logistics ecosystem.
"INSTANT-XP is a proxy play on India’s consumption and industrial activity. This partnership between INSTANT-XP and Multiples will further accelerate the company’s growth while maintaining a strong focus on processes and governance to grow responsibly,” said Sridhar Sankararaman, MD, Multiples Alternate Asset Management, according to a statement.
Multiples focuses on core sectors of financial services, pharma and healthcare, consumer and technology and more recently the green economy. Some of Multiples’ distinctive investment partnerships include ACKO, Delhivery, Dream Sports, Encube, India Energy Exchange, Kogta Financial, Licious, Milltec, MoEngage, PVR, Quantiphi, TI Clean Mobility, Vastu Housing Finance, and Zenex.