Shadowfax Technologies Raises $22M in Series C Funding
Summary
Shadowfax Technologies , a Bengaluru, Karnataka, India-based on-demand delivery startup, raised $22m in Series C funding.Co-founded by Abhishek Bansal, CEO and Vaibhav Khandelwal in 2015, Shadowfax aims to connect micro entrepreneurs and suppliers in logistics using a singular platform/IOTs to bridge the information gap and eradicate inefficiencies across the value chain.The platform, which uses an AI-based location stream processing engine called Frodo to take fast decisions in the direction to optimize costs and offer high service levels, allows customers across for grocery, food, fashion and electronics to make deliveries by connecting them with a crowd-sourced network of more than 30,000 delivery partners.The company, which says they deliver more than 90,000 unique orders everyday, previously raised $18.5M from Eight Roads Ventures in 2015 and 2016.Last year, it had acquired hyperlocal delivery business company Nuvo Logistics Pvt Ltd.