country\u2019s highly fragmented last-mile delivery infrastructure<\/a>. India\u2019s consumer delivery networks are often inefficient and struggle with complex urban environments and inconsistent service quality. This leads to delays, elevated costs, and frustration especially for small businesses that otherwise don\u2019t have sophisticated delivery capabilities.<\/p>\nThe Bengaluru-headquartered startup is attempting to\u00a0streamline logistics operations by unifying disparate elements in India\u2019s last-mile ecosystem.<\/p>\n
Shadowfax\u2019s network today reaches over 2,500 cities and more than 15,000 zip codes. Shadowfax says it makes over 2 million packages delivery each day and has amassed over 3.5 million registered users.<\/p>\n
\u201cAs a third-party logistics organization, we have gained market share tremendously over the last 24 months. And we have done so while remaining profitable,\u201d Abhishek Bansal, co-founder and chief executive of Shadowfax, told TechCrunch in an interview.<\/p>\n
Shadowfax operates a logistics and delivery network of over 125,000 monthly active delivery personnels, and works with numerous firms including Flipkart, Meesho and many direct-to-consumer brands. The startup hasn\u2019t lost one customer in five years, Bansal said.<\/p>\n
Bansal attributed the growth to the wider adoption of quick-commerce in India, which he said has helped the startup grow at a 35% rate.<\/p>\n
\u201cWe have a hyper-local arm as well and that has a huge exposure to quick-commerce firms. We are working with all quick-commerce firms, and any brand that needs to deliver the same day or the day after,\u201d he added.<\/p>\n
Founded in 2015, Shadowfax has raised more than $220 million in primary and secondary transactions.<\/p>\n
In a statement, Amit Gupta, Partner and Head of India and Southeast Asia at TPG NewQuest, said Shadowfax is \u201crevolutionizing\u201d the e-commerce logistics sector in India.<\/p>\n
Shadowfax is Mirae Asset\u2019s first investment in India and the venture firm has participated in each subsequent round.<\/p>\n
\u201cWe believe that logistics is fundamental to ecommerce and hyperlocal commerce and that it enables the growth of these markets. Abhishek and Vaibhav together with their team have built a highly scalable platform and have continued to deliver even during challenging periods,\u201d Ashish Dave, CEO of Mirae Asset Venture Investments (India), said in a statement.<\/p>\n
\u201cThroughout the last 5 years, they have invested in growing the network and the organization while also delivering on the right financial metrics.\u201d<\/p>\n<\/p><\/div>\n
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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Shadowfax, one of the largest logistics service providers to hyper-local and on-demand delivery businesses in India, has raised $100 million in a new funding round as it clocks an yearly growth of 35%. TPG NewQuest led Shadowfax\u2019s Series E financing round, which includes some secondary transactions, the startup said on Tuesday. TechCrunch reported last year […]<\/p>\n","protected":false},"author":1,"featured_media":78747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-78746","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/78746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=78746"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/78746\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/78747"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=78746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=78746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=78746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}