Investcorp acquires 20Cube to expand its presence in India’s growing logistics market
Investcorp has acquired the Indian contract logistics business of 20Cube for about Rs 500 crore and plans to invest a further Rs 500 crore to Rs 750 crore alongside the company’s founders to acquire complementary businesses and build a pan-India contract logistics platform.
Global alternative investment firm Investcorp has acquired the contract logistics business20Cube 3PL Solutions for Rs 500 crore. The deal highlights growing investor interest in India’s rapidly expanding logistics sector.
The investment firm plans to invest a further Rs 500 crore to Rs 750 crore alongside the company’s founders to acquire complementary businesses and build a pan-India contract logistics platform. The founders, Anand Seetharaman and Ranjan Kedia, will continue to lead the business.
The transaction comes at a time when rising manufacturing activity, supply chain modernisation, and increasing demand for organised warehousing are reshaping the country's logistics industry.
The transaction also involves a carve-out. The India contract logistics business will be separated from Singapore-headquartered 20Cube Logistics, which will continue focusing on international freight forwarding. The Indian business already operates more than 7 million square feet of warehousing space and aims to expand to more than 20 million square feet within four to five years.
Contract logistics essentially means outsourcing of supply chain activities such as warehousing, transportation, inventory management, and order fulfilment to specialist operators. Increasingly, these services are being supported by digital tools that help companies track goods, manage inventory, and improve delivery efficiency.
“This investment reflects our continued conviction in India’s rapidly evolving contract logistics sector, where we currently participate through NDR Warehousing and Miebach Consulting. As India’s supply chains continue to modernise, we look forward to working closely with 20Cube's leadership to scale a technology-enabled logistics platform,” said Gaurav Sharma, Head of India Investment Business at Investcorp.
The industry has seen a wave of consolidation and investment. Major logistics companies have been expanding warehousing footprints, while third party logistics providers have increasingly adopted automation, data analytics, and multi-client warehousing models to improve asset utilisation and reduce costs. Ecommerce growth and the rise of organised retail have further increased demand for modern storage facilities.
Investcorp believes 20Cube’s operating model gives it an advantage in that environment.
Varun Laul, a partner at Investcorp, noted, “In a market largely driven by fixed-space, manpower-based contracts, 20Cube differentiates itself with on-demand multi-client warehousing that seamlessly integrates transportation and other value-added services. Not only does this deliver greater value for customers, it also creates a more resilient business.”
For 20Cube, the investment represents an opportunity to scale rather than a change in direction.
Managing Director Seetharaman said the company has spent years building a customer-centric, service-first, and digitally enabled contract logistics platform and is now positioned to expand its technology capabilities and strengthen its nationwide network.