ITV

Tag: Shadowfax

  • Shadowfax files for IPO via confidential route, aims Rs 2,000-2,500 crore fundraise

    Shadowfax files for IPO via confidential route, aims Rs 2,000-2,500 crore fundraise

    MUMBAI: Bengaluru-based logistics firm Shadowfax Technologies Ltd has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) through the confidential route, signalling its plans to go public. The move comes roughly three months after the company transitioned into a public entity.

    Shadowfax is aiming to raise between Rs 2,000 crore and Rs 2,500 crore through the initial public offering, which will comprise a fresh issue of shares and an offer for sale (OFS) by existing investors. Key backers including Flipkart, Eight Roads Ventures, and NGP Capital are expected to dilute part of their holdings through the OFS component.

    ICICI Securities, JM Financial, and Morgan Stanley are acting as lead advisors to the issue. The company is targeting a post-listing valuation in the range of Rs 5,500–6,000 crore, according to individuals familiar with the development. As per TheKredible, Shadowfax was last valued at approximately Rs 5,981 crore ($712 million) during the first tranche of its Series F funding round earlier this year.

    Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, Shadowfax operates in the last-mile logistics segment, serving e-commerce and hyperlocal categories such as grocery, food, and pharmaceuticals. The company claims a network of over 1.25 lakh monthly active delivery partners across India.

    To date, Shadowfax has raised around $246 million in equity funding. Eight Roads Ventures remains the largest external investor, followed by Flipkart, NewQuest Asia, and Nokia Growth Partners.

    Financially, the company reported revenues of Rs 1,885 crore in FY24, marking a 33.2 per cent year-on-year growth. It also significantly narrowed losses—from Rs 142 crore in FY23 to Rs 11.8 crore in FY24, representing a 91 per cent reduction.

    Shadowfax now joins a growing list of Indian startups eyeing public listings. Recent confidential DRHP filers include PhysicsWallah, boAt, Urban Company, Shiprocket, Groww, Pine Labs, Capillary Technologies, Wakefit, and Curefoods, underlining a renewed momentum in India’s startup IPO pipeline.

    (If you are an Anime fan and love Anime like Demon Slayer, Spy X Family, Hunter X Hunter, Tokyo Revengers, Dan Da Dan and Slime, Buy your favourite Anime merchandise on AnimeOriginals.com.)
     

  • Shaurya Sharma tunes Into Zee TV as new marketing head

    Shaurya Sharma tunes Into Zee TV as new marketing head

    MUMBAI: From hyperlocal deliveries to high-decibel dramas, Shaurya Sharma is making a channel change that’s set to shake things up. The marketing maven has officially joined Zee Entertainment Enterprises Ltd as head of marketing for Zee TV (vice president for marketing), bringing with him a powerhouse portfolio that spans Disney-Star, Sun TV Network, Pernod Ricard, and more. With this move, Sharma takes charge of one of India’s most iconic general entertainment channels at a time when content consumption and audience loyalty is shifting faster than TRP charts.

    Armed with more than a decade of cross-category experience from liquor to logistics to linear TV Sharma’s trajectory is defined by versatility and results. Most recently, he served as Cluster marketing head for Sun Neo, Sun Marathi, and Sun Bangla at Sun TV Network, leading communication planning, social media strategy, and content marketing across diverse audience bases.

    Prior to that, he helmed marketing at Shadowfax, where he not only curated the brand’s voice but also launched India’s first ad-film on delivery jobs featuring Aparshakti Khurana and Supriya Shukla, reducing CPO by 15 per cent with his loyalty-building initiatives.

    His Disney-Star stint was equally action-packed, leading digital marketing for brands like Star Bharat and managing subscription strategy for the network’s vast distribution footprint.

    From boosting NPS scores in hyperlocal delivery to driving channel loyalty in competitive regional markets, Sharma’s work reflects a razor-sharp focus on brand resonance and consumer behaviour, both essentials in the ever-evolving GEC space.

    With Zee Tv now under his marketing stewardship, the small screen is likely to see big moves. And if history is any clue, Sharma’s campaigns won’t just sell shows, they’ll start conversations.

  • Shadowfax bags $300k funding from Snapdeal founders & others

    Shadowfax bags $300k funding from Snapdeal founders & others

    MUMBAI: In view of the booming e-commerce industry, the Gurgaon-based tech-enabled logistics startup Shadowfax has raised funds of $300,000 from multiple investors.

     

    Merely within four months since inception, the hyperlocal merchant delivery services company received the investment in an angel round led by established Indian entrepreneurs such as Snapdeal founders Kunal Bahl and Rohit Bansal, Powai Lake Ventures’ Zishaan Hayath and Limeroad’s Prashant Malik.

     

    The reason they are betting big on the venture lies in the difference in approach, according to Shadowfax co-founder and CEO Abhishek Bansal. “We believe that improving the existing state of last mile delivery and hyperlocal logistics would enable all future business growth. At Shadowfax, we are looking to build India’s most formidable, credible and fastest merchant delivery service. To achieve our aim, we have invested in strengthening our people on-boarding & training with tech-enabled solutions that help us provide 100 per cent service assurance,” he said.

     

    Shadowfax has invested in robust and reliable technology that uses multiple modes of communication in order to provide relevant solutions in the Indian context. It employs integrated GPS tracking functions and automated algorithms in its product to improve the efficiency of the network. 

     

    Shadowfax CTO and co-founder Vaibhav Khandelwal elaborated, “We have incorporated several features that leverage our proprietary end-to-end capacity planning algorithm to put the merchant directly in touch with the rider, geo-location for tracking orders, rider route planning, order coupling etc. that will help us become most efficient delivery company. Our advanced technology around restaurant preparation time ensures riders pick up meals only after they are ready and use the shortest route to navigate their way to their destination. We are single-mindedly focused towards building a highly reliable and smart network that guarantees seamless and accurate delivery which will help us lead this space.”

     

    Facts and figures support Shadowfax’s exponential growth within a short span of time. Since its launch in May 2015, Shadowfax today has an average delivery volume processing of approximately 3000 orders a day and 120-150 outlets that are currently utilising its service for last mile delivery in the Delhi-NCR region. Its service levels have made the company the vendor of choice with the merchants. The growth of the company has been driven through referrals.

     

    “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+ employees and 350+ riders and expand into 10 more cities within the next one year. With the recent investment, technology maturity and endorsement from our partners we are well poised to achieve that goal,” says Abhishek.

     

    The company further aims to take its services beyond food delivery and expand its efficient logistical infrastructure to multiple other categories. Angel investor Hayath added, “Abhishek and Vaibhav are focused on using technology as the core to build a strong merchant delivery network. This is a large problem with high fragmentation and the founders are obsessed with skill, efficiency and speed. This gives me the confidence that Shadowfax will grow into a very valuable company.”

     

    Moreover, Shadowfax has a strategic tie-up with NSDC’s training partners to enhance skills of riders and provide customized training that focused on continuous improvement. “With our superior training infrastructure and pioneering approach towards the delivery management sector, we will make the delivery industry an aspirational avenue for the youth of the country. We have opted for a partial crowd-sourced model, where anyone who wishes to be a rider can join our rider pool. However, every rider is imparted vocational skill based training before deployment,” said Abhishek.

     

    “Our core team comprises members who have known each other well from our time at IIT-Delhi. We share an extremely strong bond from our college days, and it has translated into a strong base on which to build the organisation. We are keen on getting like-minded individuals on board who can contribute to Shadowfax’s growth,” he concluded.