CDC will work with Ecom Express
to transition a proportion of its distribution fleet to electric vehicles and sponsor a road safety programme for its drivers and fleet operators.
Srini Nagarajan, Managing Director and Head of Asia CDC, said: “In Ecom Express, we have a partner company that recognises the vital importance of creating a genuinely sustainable and gender inclusive business. I am delighted that, through our expertise in impact investing in support of the UN’s Sustainable Development Goals, we will be adding value far beyond our capital contribution. We are dedicated to responsibly investing our capital in India, with over $1.7bn currently committed to local businesses. We have the same amount again to invest over the next few years and look forward to working with many more businesses that are as environmentally and socially conscious as Ecom Express”.
T A Krishnan, Co-founder and Chief Executive Officer of Ecom Express said, “The infusion of capital will help us further expand our delivery footprint in connecting towns and rural centres across the country. Besides expanding reach, the company plans to invest in technology, deploy advanced parcel sortation systems, strengthen network reliability and infrastructure, and finally, make development impact with job creation, environmentally responsible initiatives and gender diversity.”