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  1. Shadowfax raises angel fund from Snapdeal, Limeroad founders and Powai Lake 

Shadowfax raises angel fund from Snapdeal, Limeroad founders and Powai Lake 

Six-month-old hyper-local logistics start-up, Shadowfax, has raised $300,000 from Snapdeal founders Kunal Bahl and Rohit Bansal, Prashant Malik of Limeroad and Powai Lake Ventures. Bahl, Bansal and Malik have made these investments in their personal capacity.

By: | Bengaluru | Updated: August 17, 2015 7:58 PM

Six-month-old hyper-local logistics start-up, Shadowfax, has raised $300,000 from Snapdeal founders Kunal Bahl and Rohit Bansal, Prashant Malik of  Limeroad and Powai Lake Ventures. Bahl, Bansal and Malik have made these investments in their personal capacity.

“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. We have invested in strengthening our people on-boarding & training with tech-enabled solutions that help us provide 100% service assurance,” said Abhishek Bansal, Co-founder & CEO, Shadowfax.

Shadowfax claims to have invested in technology which provides relevant solutions in the Indian context. The Gurgaon-based company said it processes around 3,000 orders a day from 120-150 outlets that work with them. Currently it delivers food from restaurants, but it wants to expand into other categories too.

“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,” said Zishaan Hayath, Powai Lake Ventures.

This is Bahl and Bansal’s fifth investment in a start-up where they have parked their money. They had earlier invested in Tripoto, Bewakoof.com, Gigstart and TinyOwl.

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Tags: Snapdeal

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