Logistics Provider Shadowfax Secured $22 Million in Series C Funding
Shadowfax, India's largest logistics provider for local businesses has raised an amount of $22 million in Series C funding round. This financial round was led by Nokia Growth Partners. The round also saw the participation of Qualcomm Ventures, Mirae Asset and existing investor Eight Roads Ventures.
This particular investment is likely to value the logistics provider at around $87-97 million, as stated by two people familiar with details of the development.
The company is planning to utilize these funds to scale up its operations and is looking forward to connecting 400,000 delivery, business partners to its platform by 2021.
“We will be doubling and tripling down our business in these three categories—food, grocery and ecommerce fashion,” said Abhishek Bansal, chief executive of Sha...