Investcorp invests Rs 500 crore in new logistics bet, plans Rs 1 billion India push

Global alternative investment firm Investcorp has acquired the contract logistics business of 20Cube 3PL Solutions for Rs 500 crore, in a deal that 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. It 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 supported by digital tools that help companies track goods, manage inventory and improve delivery efficiency.

Gaurav Sharma, Head of India Investment Business at Investcorp, said the investment reflects the firm’s continued conviction in India’s rapidly evolving contract logistics sector, where it already participates through NDR Warehousing and Miebach Consulting, adding that Investcorp looks forward to working closely with 20Cube’s leadership to scale a technology-enabled logistics platform.

Varun Laul, a partner at Investcorp, said that 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, delivering greater value for customers while creating a more resilient business.

The industry has seen a wave of consolidation and investment, with major logistics companies expanding warehousing footprints and third-party logistics providers increasingly adopting automation, data analytics and multi-client warehousing models to improve asset utilisation and reduce costs. E-commerce growth and the rise of organised retail have further increased demand for modern storage facilities.

For 20Cube, the investment represents an opportunity to scale. 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.