wordpress blog stats
Connect with us

Hi, what are you looking for?

B2B logistics startup Shadowfax raises Series C funding of $22M

B2B logistics startup Shadowfax, has raised Series C funding of $22 million led by US-based NGP Capital. Qualcomm Ventures, Mirae Asset and existing investor, Eight Roads Ventures, also participated in the round. Founded in 2015, Bangalore-based Shadowfax was established by two IIT Delhi alumni --  Abhishek Bansal and Vaibhav Khandelwal-- offers hyperlocal logistics to the businesses. It operates on a plug-and-play format, offers an on-demand delivery service platform to its clients. The company initially started as a food delivery service, but over a period of time, it diversified across verticals. The company will use the fresh funds for scaling up its business and aims to connect 4 lakh new businesses and delivery partners by 2021, up from the current 40,000 connections. The company claims that it does about 90,000 orders per day across categories like food, grocery, fashion, pharmacy, furniture, e-commerce and traditional business sectors. The company has clients like Dominos, Big Basket, Amazon, PayTM, Flipkart, Myntra, McDonald’s, 1MG, and others including smaller restaurants, merchants, and retailers. It is currently present in 80+ cities across India, and the company plans to increase coverage to 100+ locations in the next three months. It also aims to deliver 10 lakh orders per day by 2021 and estimates a year-on-year growth of 150% for the next five years. Shadowfax previously raised funds amounting to $ 18.5 million from Eight Roads Ventures in 2015 and 2016. In 2017, it raised Series B funding from Eight Road Ventures. Logistic Segment A number of ventures in the logistics…

Please subscribe/login to read the full story.
Written By

Writes about e-commerce, social media, tech and Internet ecosystem.

Free Reads

News

With GPS in every car, India's toll collection is going high-tech.

News

Google is currently undergoing the necessary procedures for the leasehold land, which is presently under the ownership of the Maharashtra Industrial Development Corporation.

News

The pilot project for which is being launched in 19 cities this year, with a plan to launch a full-fledged rollout next year.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

NPCI CEO Dilip Asbe recently said that what is not written in regulations is a no-go for fintech entities. But following this advice could...

News

Notably, Indus Appstore will allow app developers to use third-party billing systems for in-app billing without having to pay any commission to Indus, a...

News

The existing commission-based model, which companies like Uber and Ola have used for a long time and still stick to, has received criticism from...

News

Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...

News

Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ