Logistics start-up Shadowfax begins new round at $600 Mn valuation

• ByStartupStory     |    July 12, 2022

Shadowfax, an on-demand logistics company, has begun a new round of funding from current investors. After a hiatus of more than 30 months, the company has received a fresh round. 

Flipkart led the round with an investment of Rs 77.56 crore ($9.75 million), followed by Trifecta Venture and Qualcomm, who each contributed Rs 10 crore and Rs 7.76 crore. 

The additional funds were raised by Shadowfax at a post-money valuation of $600 million. During the Series D round, the company was estimated to be worth $250 million. The company has already raised $100 million, not including this round. 

It faces off against firms like Delhivery, Rapido, Dunzo, and other established logistics providers. Although Shadowfax has not yet submitted its annual financial report for FY22, that year saw significant growth.

According to regulatory filings with RoC, Shadowfax issued 16,919 Series D2 CCPS at an issue price of Rs 56,338 per share to raise Rs 95.32 crore or $12 million.

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About Shadowfax :

Shadowfax was initially an e-commerce-focused logistics company when it was founded in 2015, but it has since developed into a full-fledged logistics solution with capabilities for quick and local commerce.

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