“Shadowfax Receives $100M in Funding and Soars Ahead in Response to Booming Instant Delivery Industry”
Shadowfax, one of the largest logistics service providers to hyper-local and on-demand delivery businesses in India, has raised $100 million in a new funding round as it clocks an yearly growth of 35%.
Shadowfax says it makes over 2 million packages delivery each day and has amassed over 3.5 million registered users.
Shadowfax operates a logistics and delivery network of over 125,000 monthly active delivery personnels, and works with numerous firms including Flipkart, Meesho and many direct-to-consumer brands.
Shadowfax is Mirae Asset’s first investment in India and the venture firm has participated in each subsequent round.
“We believe that logistics is fundamental to ecommerce and hyperlocal commerce and that it enables the growth of these markets.
