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Logistics Firm Shadowfax Seeks $50 Million, Aiming to Double Valuation to $700 Million
Anamika Mishra,
Sub Editor
Anamika Mishra,
Sub Editor
Flipkart-backed hyperlocal logistics startup Shadowfax is in advanced discussions to secure funding of ₹350-400 crore ($45-50 million), which could double its valuation to ₹5,500-6,000 crore ($700 million), according to multiple sources familiar with the matter.
This funding round will be the Bengaluru-based company’s final private raise before its initial public offering (IPO).
Investors in this round are expected to include domestic family offices, mutual funds, and high-net-worth individuals (HNIs), typically involved before a public issue. Wealth management firms like Nuvama and InCred have also been in talks with Shadowfax regarding this funding, although the company plans to finalize its investor lineup in the coming weeks. Shadowfax specializes in quick commerce and same-day e-commerce deliveries.
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