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Shadowfax acqui-hires delivery startup Pickingo after SAIF Partners and Zomato deal falls through

There's consolidation in the hyperlocal delivery startup space. Shadowfax an on-demand delivery startup has acquired its peer Pickingo for an undisclosed amount in a cash and stock deal, reports iamWire. Following this, 45 members of the management team will join Shadowfax along with a few hundred delivery boys. The acquisition comes after a report from Mint last week which said  Zomato and SAIF Partners pulled out from investing in the company. In August, Pickingo had raised $1.3 million in its first round of institutional funding, led by Rehan Yar Khan-backed Orios Venture Partners and Toppr Co-founder Zishaan Hayath. The company used to facilitate last-mile logistics services for companies such as Jabong, Snapdeal, Paytm and ShopClues. Shadowfax on the other hand, had raised $8.5 million in a Series A round of funding from Fidelity International’s investment arm Eight Roads Ventures. Shadowfax also raised seed funding…

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