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Bahrain-based Investcorp announced on Sunday that it is making a new investment in Indian logistics startup Xpressbees

A consortium of local and global investors have also joined Investcorp in the Series-E round that is expected to add as much as $110 million to Xpressbees’ valuation. Although, the startup has not explicitly confirmed the net yield from the round.

Series-E is a late-stage funding round that helps a startup scale up its business.

Xpressbees is currently operating in more than 2,000 cities and towns across India. The company’s client base includes more than 1,000 businesses from diverse industries and niches such as e-commerce, pharmaceutical, retail, manufacturing, consumer goods, electronics, and more.