SpiceXpress and Logistics Pvt. Ltd has signed a memorandum of understanding (MoU) with the British conglomerate as part of the investment deal.
"We had recently hived off SpiceXpress into a separate company as we were extremely confident and bullish about the potential of our tech-enabled logistics business and this MoU reaffirms our belief. This investment should help SpiceXpress to further grow and expand and provide a more streamlined and efficient service to its customers," Ajay Singh, chairman and managing director, SpiceJet, said, in a statement on Monday.
SpiceJet hived off SpiceXpress into a separate entity effective 1 April, paving the way for the company to raise funds independently.
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