Total amount raised
$219.2 Millions
Latest funding date
Location
Shadowfax has successfully raised significant funding across multiple rounds, attracting a diverse group of investors. The company specializes in providing tech-enabled delivery solutions for various sectors, including food, pharmacy, and e-commerce.
Keep reading to explore the intricacies of Shadowfax's fundraising journey and the investors backing this innovative logistics platform.
What Is Shadowfax?
Shadowfax, founded in 2015 by Abhishek Bansal and Vaibhav Khandelwal, is headquartered in Bangalore, Karnataka, India. The company specializes in providing tech-enabled delivery solutions across various sectors, including food, pharmacy, and e-commerce.
With a workforce of 1001-5000 employees, Shadowfax operates an on-demand logistics network that aims to create customer delight through technology. Their services range from instant fulfillment to express delivery and reverse logistics.
Shadowfax envisions becoming a desirable and trustworthy delivery platform, leveraging its innovative approaches to meet the diverse needs of its clients. For more details, visit their official website or their Crunchbase profile.
How Much Funding Has Shadowfax Raised?
- Angel Round
- Amount Raised: $300K
- Date: August 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial seed funding to kickstart operations and develop the logistics platform.
- Series A
- Amount Raised: $8.5M
- Date: September 2015
- Lead Investors: Eight Roads Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the delivery network and enhance technology infrastructure.
- Series B
- Amount Raised: $10M
- Date: December 2016
- Lead Investors: Eight Roads Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series C
- Amount Raised: $22M
- Date: August 2018
- Lead Investors: NGP Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the service offerings and improve delivery efficiency.
- Series D
- Amount Raised: $60M
- Date: December 2019
- Lead Investors: Flipkart
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and support rapid growth.
- Series E
- Amount Raised: ₹953.2M
- Date: July 2022
- Lead Investors: Flipkart
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the logistics network and improve service quality.
- Series E
- Amount Raised: ₹8.5B
- Date: February 2024
- Lead Investors: TPG
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support large-scale expansion and prepare for an IPO.
- Series F
- Amount Raised: ₹342.4M
- Date: February 2025
- Lead Investors: Mirae Asset, Nokia Growth Partners
- Valuation at Round: $712M
- Motivation Behind the Round: To fuel growth and expansion plans, and to prepare for an upcoming IPO.
Total Amount Raised: $1.1B. Current Valuation: $712M.
Key Investors
- Eight Roads Ventures
- Details: Eight Roads Ventures is a global venture capital firm that invests in high-growth technology and healthcare companies. They have a strong presence in Asia, Europe, and the US.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Alibaba, App Annie, NeoPhotonics.
- Flipkart
- Details: Flipkart is one of India's leading e-commerce platforms, offering a wide range of products from electronics to fashion. The company has been a significant backer of Shadowfax, supporting its growth and expansion.
- Investment Focus Areas: E-commerce, logistics, technology.
- Notable Investments: Myntra, PhonePe, Ekart.
- TPG
- Details: TPG is a global alternative asset firm with a diverse set of investment platforms. They focus on private equity, growth capital, real estate, and public equity.
- Investment Focus Areas: Healthcare, technology, consumer, real estate.
- Notable Investments: Airbnb, Uber, Spotify.
- Mirae Asset
- Details: Mirae Asset is a global financial services group based in South Korea. They offer a range of services including asset management, investment banking, and life insurance.
- Investment Focus Areas: Technology, logistics, financial services.
- Notable Investments: N26, Grab, BigBasket.
- NGP Capital
- Details: NGP Capital is a global venture capital firm that invests in growth-stage technology companies. They focus on companies that are transforming industries and improving lives.
- Investment Focus Areas: Technology, healthcare, industrial.
- Notable Investments: Deliveroo, Lime, Peloton.
What's Next for Shadowfax?
Shadowfax is poised to capitalize on the burgeoning e-commerce market, with plans to raise $50 million in its Series F round and a significant IPO on the horizon. The logistics firm aims to secure Rs 2500-3000 crore through the IPO, positioning itself for expansive growth and enhanced service offerings.
Future fundraising efforts will be crucial as Shadowfax navigates a competitive landscape featuring rivals like Delhivery and Ecom Express. The company must maintain robust financial performance and manage its extensive delivery network efficiently to attract investors and sustain growth.
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