The Ontario Teachers’ Pension Plan is investing $80 million in logistics service provider Xpressbees.
The Indian packaging and shipping company, which offers its services across the country, is using cutting edge technology to advance its business, according to a press release.
“India is a critical market for our [Teachers’ Venture Growth] Asia strategy, where we look to lead or co-lead rounds and Xpressbees is a culmination of one such proprietary opportunity,” said Kelvin Yu, senior managing director at the Teachers’ Venture Growth, in the release.
In other news, the British Columbia Investment Management Corp. is participating in the latest round of fundraising for Photonic Inc., a technology company developing a new type of quantum computing and networking platforms.
The new offering transaction will provide Photonic with US$100 million, bringing the total funding raised to date to US$140 million.
“As one of Photonic’s largest shareholders, BCI is excited to partner with its management team with the goal of developing one of the first fault-tolerant quantum computers in the world,” said Gordon J. Fyfe, chief executive officer and chief investment officer at the BCI, in a press release.