startup funding

Another Hyperlocal Delivery Startup Shadowfax Raises $300K In Angel Funding From Snapdeal and Limeroad Founders

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shadowfax funding

Gurgaon-based Shadowfax, an on-demand hyperlocal merchant delivery startup, today said it has raised angel funding of USD 300,000 from Snapdeal co-founders Kunal Bahl and Rohit Bansal, Limeroad co-founder Prashant Malik and Zishaan Hayath of Powai Lake Ventures.

Shadowfax is an on-demand delivery service that takes care of delivery requirements of local businesses.
With its hyper-local delivery network and logistics technology, merchants can deliver to their customers in cost effective and hassle free way.

Founded by IIT-Delhi Graduates – Vaibhav Khandelwal and Abhishek Bansal, Shadowfax launched its services in May this year and processes about 3,000 orders a day. Some 120-150 outlets are currently utilising its service for last-mile delivery in the Delhi-NCR region.

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“We’re growing very rapidly. We have already created a niche for our services in Delhi-NCR and are looking to strengthen our present team of 35-plus employees and 350-plus riders and expand into 10 more cities within the next one year,” Shadowfax co-founder and CEO Abhishek Bansal said.

With no fixed cost, Shadowfax charges its customers on a pay-per-delivery model based on distance and required service quality. Its partners can monitor delivery status in real-time and can share delivery status with their customer conveniently.

Some of Shadowfax clients include food-tech startup Faasos, Slice of Italy, Bercos, YO! China and Chayos, amongst others.

Shadowfax is Snapdeal founders’ second investment within last 7 days as just few days back Snapdeal co-founders had also invested in Noida-based Betaout, an e-commerce marketing software startup and before that they, along with other investors, had invested in recruitment startup Belong, in June this year.

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Vardaan
Founding editor at IndianWeb2, he's been writing at IndianWeb2 since 2007. Apart from blogging he had a professional career of software developer, Ux developer and search engine marketer in past. His vision of IndianWeb2 has been laid down so as to showcase, encourage and propagate Indian startups, innovation and entrepreneurship ideas.

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