Shadowfax's $100 Million Funding Frenzy
February 28, 2024, 10:59 am
Location: India, Karnataka, Bengaluru
Employees: 501-1000
Founded date: 2015
Total raised: $241.36M
Shadowfax, the logistics powerhouse, recently secured a whopping $100 million in Series E funding, spearheaded by TPG NewQuest. This funding frenzy also saw the participation of heavyweights like Mirae Asset Venture Investments, Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm, and Trifecta Capital.
The funding round, a mix of primary, secondary, and venture debt financing, propelled Shadowfax closer to unicorn status, with a valuation of around $600 million. This injection of capital will fuel the expansion of Shadowfax's middle-mile network and the extension of its last-mile delivery services to cover a staggering 20,000 pin codes across India in the next 18 months.
Not stopping there, Shadowfax plans to develop services tailored for direct-to-consumer brands and enhance its express delivery network. With a unique crowdsourcing network boasting 125,000 monthly active delivery partners and 3.5 million registered users, Shadowfax is a force to be reckoned with in the logistics realm.
The company's revenue from operations in FY23 soared to Rs 1,415.40 crore, showcasing its growth trajectory. With three consecutive quarters of profitability in the current financial year and a promising outlook for positive EBITDA in FY24, Shadowfax is on a winning streak.
Founded in 2015, Shadowfax has revolutionized the e-commerce logistics sector in India, delivering 2 million packages daily and covering over 15,000 pin codes. With a strong tech stack and a relentless focus on customer-centric solutions, Shadowfax is poised for even greater success in the future.
The funding round, a mix of primary, secondary, and venture debt financing, propelled Shadowfax closer to unicorn status, with a valuation of around $600 million. This injection of capital will fuel the expansion of Shadowfax's middle-mile network and the extension of its last-mile delivery services to cover a staggering 20,000 pin codes across India in the next 18 months.
Not stopping there, Shadowfax plans to develop services tailored for direct-to-consumer brands and enhance its express delivery network. With a unique crowdsourcing network boasting 125,000 monthly active delivery partners and 3.5 million registered users, Shadowfax is a force to be reckoned with in the logistics realm.
The company's revenue from operations in FY23 soared to Rs 1,415.40 crore, showcasing its growth trajectory. With three consecutive quarters of profitability in the current financial year and a promising outlook for positive EBITDA in FY24, Shadowfax is on a winning streak.
Founded in 2015, Shadowfax has revolutionized the e-commerce logistics sector in India, delivering 2 million packages daily and covering over 15,000 pin codes. With a strong tech stack and a relentless focus on customer-centric solutions, Shadowfax is poised for even greater success in the future.