India portfolio company, Shadowfax, announced that it has raised a $22m Series C round. The round was led by NGP Capital, and we participated alongside Qualcomm Ventures and Mirae Asset Financial Group.
Shadowfax plans to use this capital for rapid expansion and is aiming to connect 400,000 delivery and business partners to the platform by 2021 (from the current 40,000). Shadowfax facilitates delivery to the likes of Amazon, Urban Ladder and 1MG among others.
Founder and CEO Abishek Bansal commented, saying: "We are ready to take multiple steps forward towards our mission of connecting the next million micro entrepreneurs and suppliers in logistics using a singular platform to bridge the information gap and eradicate inefficiencies across the value chain."