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Shadowfax - Success Story of a Leading On-Demand Delivery Platform!

StartupTalkyStartupTalky · 1y ago
Shadowfax - Success Story of a Leading On-Demand Delivery Platform!
Medial

Shadowfax is an Indian on-demand hyperlocal delivery service provider that aims to offer speedy, secure, and convenient deliveries through cutting-edge technology and a reliable network. Founded in 2015, Shadowfax has become India's largest hyperlocal delivery platform, serving various sectors including e-commerce, restaurants, FMCG, and pharmacies. The company focuses on customized deliveries and prides itself on its flexibility and fast payouts for their riders. Shadowfax has raised over $212 million in funding and has acquired companies like NuvoExon and Pickingo. The company's mission is to build the fastest and most reliable logistics network by empowering microentrepreneurs through technology.

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Shadowfax raises $100 Mn in Series E round led by TPG NewQuest

EntrackrEntrackr · 1y ago
Shadowfax raises $100 Mn in Series E round led by TPG NewQuest
Medial

Logistics company Shadowfax on Tuesday announced the closing of its Series E funding round at $100 million. TPG NewQuest led the funding round, while existing investors including Mirae Asset Venture Investments, Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm, and Trifecta Capital also participated. This round comprised primary, secondary, and venture debt financing. Eight Roads Ventures, the company’s first institutional investor, also made a partial exit. The latest capital pushed Shadowfax closer to unicorn status as the firm was valued at around $600 million during the first tranche of the Series E round. Entrackr exclusively reported the development in July 2022. Shadowfax will utilize the funds to reinforce its middle-mile network and extend its last-mile delivery services to cover all 20,000 pin codes across India over the next 18 months, the company said in a statement. A portion of the funding will also be used to develop services for D2C brands and further enhance Shadowfax’s express delivery network, it added. Shadowfax provides services to a vast network of customers with industry-leading Turnaround Time (TAT) at competitive prices. It boasts a unique crowdsourcing network comprising 125,000 monthly active delivery partners and 3.5 million registered users. In December, Shadowfax launched an on-demand delivery service app Flash which enabled merchants and customers to avail instant delivery service within the city. As per startup data intelligence platform TheKredible, Shadowfax recorded Rs 1,415.40 crore in revenue from operations in FY23 against Rs 990 crore in FY22. The firm controlled its losses to Rs 141 crore in FY23 from Rs 176 crore in the previous fiscal year. Shadowfax claims that it registered three consecutive quarters of profitability in the current financial year from April to December 2023 and it is on track to achieve its first full financial year of positive EBITDA in FY24 (after accounting for ESOP costs).

Game Day Glory Zepto's Record-breaking Surge in Orders Fueled by Cricket Finals and Unique Collaborations

Business BytesBusiness Bytes · 2y ago
Game Day Glory Zepto's Record-breaking Surge in Orders Fueled by Cricket Finals and Unique Collaborations
Medial

Zepto, an on-demand delivery platform, experienced its highest-ever order volume of over 450,000 during the India-Australia ICC Men’s Cricket World Cup final. The strategic collaboration with Thums Up resulted in the delivery of 200,000 complimentary beverages, boosting traffic and highlighting the impact of major sporting events on consumer preferences. Additionally, Zepto observed a 40% increase in puja flower orders during limited Chhath Puja celebrations, displaying the platform's adaptability to diverse cultural festivities. This success highlights the platform's ability to leverage collaborations, cater to market demands, and capture consumer attention.

Shadowfax sets price band at Rs 118-124, IPO to open on Jan 20

EntrackrEntrackr · 1d ago
Shadowfax sets price band at Rs 118-124, IPO to open on Jan 20
Medial

Shadowfax sets price band at Rs 118-124, IPO to open on Jan 20 Flipkart-backed logistics and delivery platform Shadowfax Technologies has officially set the price band for its initial public offering at Rs 118–Rs 124 per share. The Bengaluru-based company is gearing up to open its Rs 1,907 crore initial public offering on January 20, 2026, with the subscription window scheduled to close on January 22. Anchor investors are expected to be allotted shares a day before the issue opens. Shadowfax’s IPO comprises a fresh issue of around Rs 1,000 crore and an offer-for-sale (OFS) component of approximately Rs 907 crore, where marquee backers, including Flipkart India, Eight Roads Investments, International Finance Corporation, Nokia Growth Partners, NewQuest Asia Fund, and Miare Asset will offload portions of their stakes. The lot size has been set at 120 shares, meaning retail investors will need approximately Rs 14,880 at the upper end of the band to apply for one lot. Shadowfax is targeting a post-money valuation near Rs 7,400 crore, lower than earlier internal drafts. Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, the Bengaluru-based firm provides last-mile delivery across e-commerce and hyperlocal sectors, serving over 14,000 pin codes through 1.25 lakh delivery partners. According to data from TheKredible, Shadowfax has raised approximately $246 million to date. Eight Roads Ventures is the largest external stakeholder, followed by Flipkart, NewQuest Asia, and Nokia Growth Partners. Shadowfax reported 32% year-on-year growth in revenue to Rs 2,485 crore in FY25, along with a net profit of Rs 6.4 crore. For the first half of FY26, the company booked Rs 1,806 crore in revenue and Rs 21 crore in profit.

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