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Bengaluru-based Shadowfax has acquired CriticaLog to expand its offerings by introducing customisable delivery services across the country
However, the financial terms of the deal remain undisclosed
Shadowfax’s cofounder and CEO Abhishek Bansal remarked that this move aligns perfectly with the company’s mission to solve the most challenging last-mile problems
Bengaluru-based logistics services startup ShadowFax
However, the Flipkart-backed company did not disclose the financial terms of the deal.
“This move aligns perfectly with our mission to solve the most challenging last-mile problems in India today. With this acquisition, we are excited to expand our capabilities in delivering high-value items safely and reliably to more pin codes, benefiting our existing clients and opening new opportunities,” said Abhishek Bansal, cofounder and chief executive of Shadowfax.
Established in 2013, CriticaLog’s products and services are tailored to meet critical logistics requirements within identified industry verticals. The company also claims to offer faster pick up and distribution operations in Tier I and II cities, by customising the offering while directly working with the customers.
With this buyout, Shadowfax seeks to leverage CriticaLog’s services to boost its tailored logistics solution offerings across a broader range of sectors.
Founded in 2015 by Vaibhav Khandelwal and Abhishek Bansal, Shadowfax provides hyper-local and on-demand deliveries to businesses. Notably, the startup works with ecommerce platforms like Flipkart and Meesho.
It competes against the likes of Delhivery, Ecom Express, XpressBees, LoadShare, Ripple and Pickrr.
This development comes months after Shadowfax was reportedly in advanced discussions to raise INR 350-400 Cr (around $45-50 Mn) in a fresh funding round, which would likely double its valuation to around INR 5,500- 6,000 Cr ($700 Mn).
On the financial front, Shadowfax cut its net loss by nearly 92% to INR 11.8 Cr FY24 from INR 142.6 Cr in FY23. Meanwhile, its operating revenue jumped 33.19% to INR 1,884.8 Cr during the year under review from INR 1,415.1 Cr, a year ago.
Updated at 04:12 PM
