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.
“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.