by Bengaluru, India – Shadowfax, a logistics startup, is nearing a $60 million funding round led by TPG’s NewQuest. The round is also expected to see participation from existing investors such as Sequoia Capital India and Accel Partners.
“We are excited to partner with TPG’s NewQuest,” said Vaibhav Domkundwar, CEO and co-founder of Shadowfax. “Their deep experience in the logistics sector and their global network will be invaluable to us as we continue to grow our business.”
Shadowfax is a logistics startup that provides last-mile delivery services to e-commerce companies. The company was founded in 2015 by Vaibhav Domkundwar and Abhishek Bansal. Shadowfax has a network of over 100,000 delivery partners and operates in over 200 cities in India.
The funding round is a sign of the growing interest in the logistics sector in India. The Indian e-commerce market is growing rapidly, and this is driving demand for last-mile delivery services. Shadowfax is well-positioned to capitalize on this growth, and the funding round will help the company to expand its network and improve its service offerings.
“We believe that Shadowfax is a leading player in the Indian logistics market,” said Alok Mittal, Managing Director at TPG’s NewQuest. “The company has a strong team, a proven track record, and a clear vision for the future. We are excited to partner with them as they continue to grow their business.”
The funding round is expected to close in the coming weeks.
Key takeaways from the story:
- Shadowfax, a logistics startup, is nearing a $60 million funding round led by TPG’s NewQuest.
- The round is also expected to see participation from existing investors such as Sequoia Capital India and Accel Partners.
- Shadowfax is a logistics startup that provides last-mile delivery services to e-commerce companies.
- The funding round is a sign of the growing interest in the logistics sector in India.
- The Indian e-commerce market is growing rapidly, and this is driving demand for last-mile delivery services.
- Shadowfax is well-positioned to capitalize on this growth, and the funding round will help the company to expand its network and improve its service offerings.
Implications of the story:
The funding round is a sign of the growing interest in the logistics sector in India. The Indian e-commerce market is growing rapidly, and this is driving demand for last-mile delivery services. Shadowfax is well-positioned to capitalize on this growth, and the funding round will help the company to expand its network and improve its service offerings.
The funding round is also a sign of the growing interest in Indian startups by global investors. This is a positive development for the Indian economy as it will help to attract more foreign investment into the country.
