Gurugram-headquartered on demand hyperlocal delivery startup Shadowfax has reportedly acquired assets of NuvoEx Logistics, the parent company of now-defunct egrocer PepperTap. According to sources, paperwork for the deal is currently being finalised.
As part of the acquisition, Shadowfax has pumped an undisclosed amount of investment in the reverse logistics solutions provider. By merging with NuvoEx, Shadowfax is looking to expand its presence across 75 cities and also increase its daily transaction volume to 90,000.
Post the acquisition, Shadowfax will boast an extensive countrywide network of more than 7,000 personnel and 400 minivans. The merger is ultimately geared towards bolstering the logistics company’s last-mile delivery infrastructure.
Commenting on the development, Shadowfax co-founder and CEO Abhishek Bansal said, “The consolidated business will help in improving the customer density in urban cities while also expanding presence in tier I and II cities using the operational expertise of the NuvoEx team.”
Shadowfax: Handling Deliveries For Ecommerce Majors Amazon And Paytm Mall
Founded in 2015 by Vaibhav Khandelwal and Abhishek Bansal, Shadowfax is a hyperlocal delivery startup that is backed by a bevy of angel investors such as Kunal Bahl, Rohit Bansal, Zishaan Hayath (Powai Lake Ventures) and Prashant Malik (Limeroad), among others.
The startup caters to clients in ecommerce, food, grocery and pharma. At present, it offers same-day as well as next-day delivery options for major ecommerce platforms like Amazon Prime and Paytm Mall.