Shadowfax is close to raising ₹350-400 crore, doubling its valuation before IPO.
Flipkart-backed logistics startup Shadowfax is nearing the close of a ₹350-400 crore ($45-50 million) funding round, which is expected to double the company’s valuation to ₹5,500-6,000 crore ($700 million). According to sources, this will be the Bengaluru-based firm’s final private fundraising round before its planned initial public offering (IPO).
The upcoming round is likely to attract domestic family offices, mutual funds, and high-net-worth individuals (HNIs), typically onboarded before a public issue. Wealth management firms like Nuvama and InCred have also engaged in talks with Shadowfax for this round, with a final decision on investors expected in the coming weeks.
Earlier this year, Shadowfax raised $100 million in a mix of primary and secondary investments, led by growth investor TPG NewQuest, which valued the company at $350 million. Shadowfax specialises in quick commerce and same-day e-commerce deliveries, with this new funding poised to further bolster its growth trajectory.
