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ShadowFax raises $8.5M from Eight Road Ventures

shadowfax

Delhi-based ShadowFax, a hyperlocal logistics startup, has raised $8.5 million in a Series A round of funding from Fidelity International’s investment arm Eight Roads Ventures. The platform will use the funds to scale up its services and expand to other cities. ShadowFax also raised seed funding from angel investors including Kunal Bahl and Rohit Bansal earlier this year.

Founded earlier this year by Abhishek Bansal and Vaibhav Khandelwal the platform currently operates in Mumbai, Delhi and Bangalore and offers logistics for the restaurant industry. It claims to provide logistics support for local businesses and to deliver 95% of the orders in less than 15 minutes after pick up. The company offers a real time monitoring system to share delivery status with its client’s customers and API integration for asking for delivery vehicles in its fleet. It charges its customers on a pay-per-delivery model based on distance and required service quality.

ShadowFax mentions that it eventually plans to expand to other verticals like ecommerce, grocery and pharmaceuticals. As of now the platform counts Pizza Hut, Wendy’s, Subway, Faasos, Speedy Chow, baskin robbins, Speedy Chow, Pind Balluchi and Yo!China among its clients. The company also mentions that  120-150 business outlets are currently utilising its service for last mile delivery in the Delhi-NCR region.

Competition:

– Last month, Pickingo raised $1.3 million in funding from Rehan Yar Khan of Orios Venture Partners and participation from Zishaan Hayath. Earlier this month the company, along with Grab, raised funds in a strategic investment from Zomato in order to provide last mile delivery for dine-in only restaurants that do not offer delivery.

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– In May, ecommerce logistics services provider Delhivery has raised $85 million in a Series D round of funding led by Tiger Global Management and participation from existing investors including Multiples Alternate Asset Management, Nexus Venture Partners and Times Internet Limited

– In February, e-commerce company Infibeam launched a SaaS-based logistics services aggregation platform called ShipDroid, which would help merchants deliver packages throughout the country. The service is currently integrated with Infibeam’s BuildaBazaar and to use it merchants have to enable the setting in BuildaBazaar.

– In September last year, mail and logistics group Deutsche Post DHL(DPDHL) chose India to pilot its e-commerce logistics business model for Asia-Pacific. It’s Indian subsidiary Blue Dart Express would conduct the pilot project on behalf of DPDHL. The company told DNA that it would invest €100 million in the country over the next two years to build the infrastructure for this business.

– The same month, Delhi-based e-commerce logistics solution provider Holisol Logistics raised $1.5 million investment from oil and gas professional Sundeep Bhandari through his company Datavision.

– In April last year Amazon India had started working with kirana stores in Bangalore for in-store pick up of products ordered from its website. The company had launched its third-party logistics service in India in November 2013.

– Flipkart opened up its logistics arm eKart Logistics to other operators, last year in February. eKart was originally created to serve WS Retail, Flipkart’s B2C side.

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– Kartrocket, an e-commerce platform for SMEs and smaller retailers, also has an in-house shipping solution called Shiprocket which it had opened up as a stand alone service to all e-tailers in India, in December 2013.

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