Hyperlocal Delivery Startup Shadowfax Raises $10 Mn in Series B Funding

Gurugram-based Shadowfax has raised Rs. 67 Crore ($10 million) in a Series B funding from existing investor Eight Roads Ventures, which is the investment arm of Fidelity International.

The hyperlocal delivery startup was founded in 2015 by Vaibhav Khandelwal and Abhishek Bansal and is also backed by Kunal Bahl, Rohit Bansal, Zishaan Hayath (Powai Lake Ventures) & Prashant Malik (Limeroad) as well as Eight Roads Ventures as investors. The delivery startup is not just about delivering food to customers, but also groceries as well as e-commerce products. By the end of 2015, they were making almost 15,000 deliveries a day.

Speaking about the brand, CEO Abhishek Bansal 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.”

For e-commerce deliveries, they provide same-day or next-day deliveries for marketplaces like Amazon Prime. And in the food delivery segment, Shadowfax works with Domino’s, McDonald’s and Burger King.

Last year, Shadowfax acquired Pickingo and in September it raised $8.5 million in a Series A round of funding that was led by Eight Roads Ventures. Earlier this year, Shadowfax and Swiggy faced problems with partners dropping out due to very high percentage payments.