Logistics Platform Shadowfax Raises $60 Million from Flipkart & Others
Bengaluru, Dec 9, 2019: Flipkart, India's leading eCommerce platform now owned by US-based Walmart has led a $60 million Series D investment round in logistics platform Shadowfax.
The investment come as a part of their strategy to expand hyperlocal delivery capabilities.
Eight Roads Ventures, Nokia Growth Partners, Qualcomm Ventures, Mirae Asset Naver Fund and World Bank backed IFC investment group also participate in this round.
Flipkart already partnered with Shadowfax to fulfil its logistics requirements across various categories in its e-commerce business.
"At Flipkart, we are focused on redefining customer experience, and hyperlocal is a key element to enable this transformation," said Kalyan Krishnamurthy, Chief Executive Officer, Flipkart.
"We have seen strong syne...