Hyperlocal Delivery Startup Shadowfax Raises $10 Mn Series B Funding

Gurugram-based on demand hyperlocal delivery services startup, Shadowfax has raised $10 Mn (INR 67 Cr) as part of its Series B funding. Existing investor Eight Roads Ventures, the investment arm of Fidelity International, participated in the round.

Founded in 2015 by Vaibhav Khandelwal and Abhishek Bansal, Shadowfax, is backed by investors like Kunal Bahl, Rohit Bansal, Zishaan Hayath (Powai Lake Ventures) & Prashant Malik (Limeroad) and Eight Roads Ventures.

Abhishek Bansal, CEO of Shadowfax said, “Our key focus areas in delivery include food, grocery and ecommerce related deliveries, which have an equal division of revenues coming from each vertical. We are exclusive delivery partners to Amazon India’s grocery and fresh delivery platform Amazon Now in Bengaluru, BigBasket and Grofers.”

The company also serves as the same-day or next-day delivery partner for ecommerce marketplaces such as Amazon Prime. For food delivery, Shadowfax works with clients such as Domino’s and McDonald’s and Burger King.

The company plans to add over 10 cities in the next 12 months. According to a company statement it processes close to 30,000 orders per day with an average cost structure of INR 55 per order across categories.

Prior to this Shadowfax acquired Pickingo. In September 2015 it raised $8.5 Mn in its Series A round of funding led by Fidelity’s proprietary investment firm Eight Roads Ventures. The development was reported by ET.