Shadowfax

It would use the funds to reinforce its middle-mile network and extend its last-mile delivery services to cover all 20,000 pincodes across India

The company declined to disclose the valuation at which it raised the funds. It was last valued at $632 million, as of April 2022, per data from investment tracker Tracxn

Fair trade regulator Competition Commission of India (CCI) on Tuesday cleared Mirae Group entities' acquisition of a minority stake in Shadowfax Technogies. The Mirae Group entities undertake venture investments and are ultimately directly or indirectly controlled by the global investment manager Mirae Group. "The commission approves the proposed acquisition of minority stake in Shadowfax Technologies Private Limited by the Mirae Group Entities," according to a post by CCI on social media platform X on Tuesday. Shadowfax Technologies provides logistics services, and third party (3P) logistics services in the country. The deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices as well as promotes fair competition in the marketplace.

Logistics firm Shadowfax has joined government-supported ONDC for e-commerce to provide last-mile delivery service in over 700 Indian cities, the company said on Tuesday. Shadowfax is planning to scale its services to over 1,200 cities. "Shadowfax joins ONDC to offer end-to-end logistics services in over 700 Indian cities," the statement said. ONDC enables players in the e-commerce ecosystem to connect with each other and share their resources for providing services in an open manner. "Providing the best logistics experience to our customers has always been our goal, and joining ONDC is a major step towards achieving it. "This is a significant milestone in the development of technology-enabled logistics services in India, and we believe it is a crucial component of the e-commerce growth journey," Shadowfax, Co-Founder and CBO, Praharsh Chandra said. Shadowfax claims to have a base of over 1.3 lakh monthly transacting delivery partners that deliver over 15 lakh orders daily in mor

Company's nationwide network serves major e-commerce, food, grocery and retail companies

SoftBank-backed internet commerce firm aims to become biggest contributor in its space in terms of shipments through 3PL players

The RedSeer-Shadowfax Delivery Delight Index survey found that in CY2020, direct-to-consumer brands grew three times faster than overall e-commerce in India

A logistics firm, Shadowfax will use the funding to increase the number of shipments to 100 million a month and expand its geographical presence to 1,000 Indian cities

Shadowfax will use the funds to scale up operations by connecting to 400,000 new businesses and delivery partners to its platform by 2021