Ecom Express, the technology-driven logistics solutions company, will create about 8,000 jobs in India now that it has received fresh capital to the tune of US$ 20 million from CDC Group, the government development finance institution of the UK and impact investor in South Asia and Africa. This is the second time that CDC is investing in Ecom Express after an initial round two years ago.
With this fresh infusion of capital, Ecom Express will look at sustainable development and enhance skills and create more jobs. the country needs to create 8.1 million jobs a year to maintain its employment rate. The Company’s initial target was 15,000 jobs, with priority being given to women at its fulfilment an delivery centres as well as warehouses across India. In addition to this, it hopes to create 8,000 new jobs in the country.
With the new funding, it will also take up strategic initiatives, and focus on expansion, growth-driven capital expenditure, working capital requirements, new business initiatives, and potential acquisitions and strategic partnerships.
CDC, believes in the important role that Ecom Express is playing in “enabling e-commerce growth and expanding product reach across India.” Therefore, CDC offers its support to the Company’s expansion plans across India. Ecom Express’ business aligns with CDC’s development, impact, and sustainability goals.
Ecom Express hopes to use this capital to strengthen its network, infrastructure, operations and technological capabilities as it moves forward on its journey of growth.