Shadowfax, a player in India’s logistics for hyper-local and quick-commerce sectors, has raised $100M in its Series E funding round, led by TPG NewQuest. This leap forward underscores the company’s robust yearly growth rate of 35%.
- Stellar Roster of Backers: The funding round saw participation from existing investors including Flipkart, Mirae Asset Venture Investments, Qualcomm, Eight Roads Ventures and Trifecta Capital.
- Tackling a Fragmented Industry: India’s last-mile delivery sector is notoriously fragmented, leading to inefficiencies. Shadowfax, founded by Abhishek Bansal, Vaibhav Khandelwal, Gaurav Jaithliya and Praharsh Chandra, is on a mission to revolutionize this by streamlining operations, reducing delivery times, and cutting costs for small businesses.
- Extensive Reach: With a network spanning over 2,500 cities and 15,000 zip codes, Shadowfax’s operational scale is truly massive. It handles over 2 million package deliveries daily, serving more than 3.5 million registered users.
The company’s success is also fueled by the rising trend of quick-commerce in India. Shadowfax’s potent combination of logistics expertise and technological innovation positions it well to capitalize on this burgeoning market.
