Bengaluru-based Shadowfax, started in 2015 with an aim to make instant deliveries a reality in India. At present, the plug-and-play platform caters to 3,500 pin codes across 200 cities and fulfils two lakh orders per day for food, grocery, fashion, pharmacy, furniture, e-commerce, and other sectors. Abhishek Bansal, co-founder & CEO speaks to Shalini Nair on their mission of connecting over a million micro entrepreneurs and suppliers in logistics industry, and expecting to grow 150 percent y-o-y.
How are you finding the e-commerce potential in the China market?
We have decided to tap the China market aiming to provide services to e-commerce players shipping their products to India as well as Chinese logistics players, who are looking for an Indian partner. We are in talks with a few Chinese players to collaborate.
We feel that it is a fast-growing segment and we have invested a lot in building proprietary algorithms to provide best quality services which would result in a higher top line for our clients.
How have you optimized your business through the funds received last year?
Our $22 million Series C funding from Mirae Asset Financial Group, Qualcomm Ventures, NGP Capital and Eight Roads Ventures; and another one from IFC last year are being used for a 360-degree scale-up. The funds are going towards physical expansion, building a strong management team and technological capabilities.
Currently, we have crossed the benchmark of two lakh orders per day and growing 150 percent year-on-year.
What are your future expansion plans?
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July - August 2019