Multiples, an alternative asset management company, has acquired a minority stake in INSTANT-XP, a tech-enabled B2B express logistics company.
INSTANT-XP, founded by brothers Rajveer Singh and Jasveer Singh, is an 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 in 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 Shankaraman, MD, Multiples. Alternative Asset Management, according to a statement.
Multiples focuses on the key sectors of financial services, pharma and healthcare, consumer and technology and more recently the green economy. Some of Multiple’s notable 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.