Indian logistics provider, Shadowfax has successfully secured $100 million in Series E funding. The round was led by TPG NewQuest, with contributions from Eight Roads Ventures, Nokia Growth Partners, and Qualcomm Ventures among others. The raised funds will aid expansion plans and investment in technological improvements for better delivery and supply chain management.
Existing shareholders such as Flipkart, Mirae Asset Venture Investments and Qualcomm also participated in the funding round, expressing confidence in the potential and future growth of the company. Shadowfax is growing at a steep annual rate of 35%, solving logistical challenges such as delay and cost escalation in India’s customer delivery networks.
It employs state-of-the-art technology to ensure efficient delivery services in both urban and rural areas. The firm serves a broad spectrum of industries, offering customized solutions and real-time tracking to enhance user experience. Through route optimization and capacity planning, logistic costs are significantly reduced.
Currently, Shadowfax operates in over 2,500 cities and manages over 2 million package dispatches daily to cater to a user base of 3.5 million. The company’s wide operational network and everyday package dispatch capacities denote its commitment towards meeting customer needs and set the stage for further growth and expansion.
Shadowfax’s CEO Abhishek Bansal credited the firm’s consistent growth to India’s swift adoption of quick commerce and the company’s partnerships with brands needing same-day or next-day delivery. Their business model is designed to meet the rapidly growing demand for high-speed delivery in urban areas, achieved by employing technology to streamline the delivery process, increasing efficiency and minimizing delays.
Since its inception in 2015, Shadowfax has garnered over $220 million via primary and secondary deals and has played a vital role in transforming India’s e-commerce logistics sector. The company employs advanced technologies to deliver quicker and reliable services which led to partnerships with numerous big names in the online retail industry thereby boosting its overall value. Shadowfax is looking to revolutionize the logistics landscape, not just in India, but also on an international level, becoming more than just a logistics provider.
