Shadowfax, a logistics services company has raised USD 100 million in a Series E fundraising round headed by NewQuest.
Participating in the round were Trifecta Capital, Nokia Growth Partners, International Finance Corporation, Flipkart, Qualcomm, and Mirae Asset Venture Investments (India). Primary, secondary, and venture loan financing are all included in this round.
Read also – [Funding alert] TreasuryTech Company IBSFINtech Raises USD 1.5Mn Pre-series A Round
Abhishek Bansal, CEO of Shadowfax, said, “Our ability to capture a greater share of the market, even in a tough economic climate, is a testament to the core strength of our business. Now having another marquee investor on the board only adds to our confidence in what we’re building.”
With the capital raised, Shadowfax plans to expand their last-mile delivery offerings to reach all 20K pincodes across the nation and strengthen its middle-mile infrastructure over the course of the next 18 months.
Amit Gupta, Partner and Head of India and Southeast Asia, TPG NewQuest, said, “Shadowfax is revolutionizing the e-commerce logistics sector in India. We have been impressed with the tech stack they have built. This helps with the delivery of superior service metrics and allows them to quickly adapt their services to client’s changing needs at the lowest price.”
Read also – [Funding alert] Agri-food Startup Farmtheory Secures $1.45 Mn From Merak Ventures
About Shadowfax
Founded in 2015 by IIT-Delhi Alumni Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, Shadowfax is an expanding, fully integrated, end-to-end logistics provider. The only platform that can handle D2C and e-commerce, hyperlocal and quick commerce, and personal courier services.
