Tech Company Financing Transactions
Shadowfax Funding Round
On 8/1/2023, Shadowfax raised $60 million in funding from NewQuest Capital Partners.
Transaction Overview
Company Name
Announced On
8/1/2023
Transaction Type
Venture Equity
Amount
$60,000,000
Round
Undisclosed
Investors
Proceeds Purpose
The startup, one of the largest logistics service providers to hyper-local, on-demand delivery businesses, has significantly pared its reliance on its largest customer, Meesho, in recent months and has been profitable for at least the past three months, the sources said. Its over-reliance on Meesho was a source of concern among many of its investors, people familiar with the matter said.
Company Information
Company Status
Private & Independent
Industry
Transportation
Mailing Address
1st Cross Rd, 5th Block, Koramangala
Bengaluru, Karnataka, 560095
IN
Bengaluru, Karnataka, 560095
IN
Phone
Website
Email Address
Overview
Shadowfax is India's largest on-demand crowdsourced 3rd party logistics platform. The only B2B2C platform with capabilities to serve multiple end-customer categories - Hyperlocal, e-commerce and reverse logistics via a single platform. Shadowfax deploys tech-enabled solutions like ML and AI to offer supply that keeps pace with demand in the fast-growing and challenging last-mile ecosystem, ensuring a wonderful end-user experience.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Abhishek Bansal
Chief Financial Officer
Praveen Kumar
Chief Marketing Officer
Pawan Pandey
Chief Technical Officer
Vaibhav Khandelwal
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