September 11, 2023
3 min

Flipkart-backed Shadowfax nears $60M funding led by TPG NewQuest - TechCrunch

Indian logistics startup Shadowfax is reportedly finalizing a funding round of about $60 million after over a year of deliberations. TPG NewQuest is expected to lead the round, which may close this month. Shadowfax, backed by Flipkart, previously engaged with A91 Partners for funding but talks fell through due to valuation differences. The startup has reduced its reliance on its largest customer, Meesho, and has been profitable for the past three months. Shadowfax's network reaches over 15,000 zip codes in India and serves customers like Myntra and Zomato-owned Blinkit.

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Adhikansh Gupta
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Writer and editor who covers the latest trends and innovations in the software-as-a-service (SaaS) industry