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Shadowfax Technologies

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Shadowfax
Shadowfax logo-orange.png
Type
Private
IndustryCourier
Founded 📆March 2015; 5 years ago (March 2015) in Gurgaon, Haryana, India
Founders 👔
  • Abhishek Bansal
  • Vaibhav Khandelwal


Headquarters 🏙️,
Bengaluru
,
India
Area served 🗺️
India
Key people
  • Abhishek Bansal (CEO)
  • Vaibhav Khandelwal (CTO)
Products 🎛️ 🧴Delivery, express mail, third-party logistics, Supply Chain
Members
Number of employees
Websiteshadowfax.in
address
telephone

Shadowfax is online to offline (o2o) crowdsourced B2B delivery and third-party logistics service provider based in Bengaluru.[1] It is operating in over 100 cities in India.[2] It was founded by IIT Delhi graduates Abhishek Bansal and Vaibhav Khandelwal in 2015.

History[edit]

Shadowfax was started by Abhishek Bansal and Vaibhav Khandelwal in March 2015.[3] The company was initially conceptualised as a food delivery player, but later it was diversified to cater to other verticals including grocery, life style, electronics, pharmacy, furniture, and other express mail deliveries.[4]

Shadowfax acquired Pickingo Logixpress Private Limited in November 2015[5] and NuvoEx Logistics Private Limited in November 2017.[6]

Funding[edit]

Till date, Shadowfax has raised a total of $40.8 million in funding.[7] [8][9] The details of all individual funding rounds are listed as:

  • Seed Funding: 17 August 2015, $300K from Kunal Bahl and Rohit Bansal (Co-founders Snapdeal), Zishaan Hayath (Co-founder, Toppr.com) and Prashant Malik (Co-founder, Limeroad).[10]
  • Series A: 12 September 2015, $8.5M from Fidelity's investment arm, Eight Road Ventures.[11][12]
  • Series B: 25 December 2016, $10M from Fidelity's investment arm, Eight Road Ventures.[13][14]
  • Series C: 22 August 2018, $22M from NGP Capital and Qualcomm Ventures (the investment arm of Qualcomm Inc.), Mirae Asset Financial Group and Eight Roads Ventures.[15][16][17]

References[edit]

  1. "Here's How Shadowfax Became The Go-to Company For a Multitude of O2O Businesses". Entrepreneur India. 2018-11-19.
  2. Ahuja, Akanksha (2018-08-07). "Delivery start-up Shadowfax raises funding from NGP Cap, Qualcomm". Mint. Retrieved 2018-08-08.
  3. Arakali, Harichandan (2019-02-07). "Forbes India 30 Under 30 2019 - Abhishek Bansal, Vaibhav Khandelwal". Forbes India.
  4. "Shadowfax: This 'Uber' for delivery personnel is getting logistics right". VCCIRCLE. 2018-01-16.
  5. Shrisvastava, Aditi (2015-11-09). "Shadowfax acquires Pickingo for an undisclosed amount". The Economic Times.
  6. Devan, M (2017-11-01). "Bengaluru based Shadowfax to acquire assets of logistics firm NuvoEx". The News Minute.
  7. "Logistics start-up Shadowfax raises $22 mn from NGP Capital, others". Business Standard. 2018-08-07.
  8. "Shadowfax Technologies - Crunchbase". Crunchbase.
  9. "Delivery start-up Shadowfax raises $22 million funding, says report". cnbctv18. 2018-08-08.
  10. Chakraborty, Sayan (2015-08-17). "Shadowfax raises $300,000 seed funding". Mint.
  11. Choudhury, Varnana (2015-09-14). "ShadowFax Raises $8.5M in Series A from Eight Roads Ventures". iamwire.
  12. "ShadowFax Raises $8.5 M in Series A from Fidelity International's Proprietary Investment Arm". nextbigwhat. 2015-09-12.
  13. Sharma, Samidha (2016-12-26). "Shadowfax gets another $10 Million from Fidelity's arm". The Times of India.
  14. Ganguly, Payal (2016-12-26). "At Eight Roads, Shadowfax gets its $10m in Series B". The Economic Times.
  15. Bansal, Varsha (2018-08-08). "On-demand logistics firm Shadowfax bags $22 Million in Series C". The Economics Times.
  16. "Shadowfax receives $22 m in Series C funding". The Hindu BusinessLine. 2018-08-08.
  17. "Delivery start-up Shadowfax raises funding from NGP Cap, Qualcomm, others". livemint. 2018-08-07.

External links[edit]


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