[Portfolio News] 20Cube Logistics raises US$17 million from Zephyr Peacock and Credence Partners
Zephyr Peacock invests in small and medium sized enterprises operating across financial services, food and agriculture, and infrastructure ancillaries sectors. The Fund invested in 20Cube Logistics, an emerging-markets focused, asset-light, digital logistics company with offerings in air and sea freight forwarding, warehousing services and third party logistics (3PL)
Click here to read the full article on ‘VCCircle’
Below is an excerpt from the post that first appeared on VCCircle on 7 January 2013:
Emerging markets-focused and asset-light logistics company 20Cube Logistics Pte Ltd has raised $17 million (Rs 90 crore) from Zephyr Peacock and Singapore-based private equity fund Credence Partners.
Chennai-headquartered 20Cube specialises in international transportation and contract logistics services. Currently, the company has presence in India, Sri Lanka, Bangladesh, Malaysia, Singapore, China, Australia, UAE and Uganda.
“Logistics-related activities in the emerging markets are growing rapidly due to strong GDP growth and a shift in the global trade lanes from developed markets to emerging markets,” said Sachin Maheshwari, director at Zephyr Peacock India.
According to him, with 20Cube’s presence in India and other emerging markets and its strong focus on information technology, it is well positioned to benefit from this opportunity.
“The founders and management team have worked together for many years and are very experienced logistics professionals. We are impressed with their passion for the business and their excellent execution track record,” said Tan Chow Boon, managing partner at Credence Partners Pte Ltd.
