Shadowfax - How is it Leading as an Indian On-Demand Delivery Platform?

The call for digitalization has certainly upped the startup ecosystem and made companies reach out to their target customers with products and services online. Along with the startups and established brands and businesses, the growing digitalization has also been constantly empowering entrepreneurs and other individuals to advertise and broadcast themselves online via diverse social media apps.

Here, it's true that reaching the masses virtually or via the online route has become easy, but delivering them to their doorsteps and within a specific deadline has constantly been challenging. However, with the emergence of hyperlocal delivery apps and companies like Shadowfax, the world is truly turning into an easily navigable place with satisfied customers.

The Bangalore based on-demand delivery service, Shadowfax, promises speedy, secure, and convenient deliveries that are empowered by cutting-edge technologies and a peerless network. Founded in 2015, the company has steered to become India's largest hyperlocal delivery platform, as per its website, which offers on-demand hyperlocal delivery with improved delivery analytics. Besides, it also delivers e-commerce and quick commerce orders fast and with optimum security.

Here's more about the Shadowfax Founders and Team, Funding and Investors, Challenges, Competitors, Mission and Vision, Acquisition, and more.

Shadowfax - Company Highlights

Shadowfax - About
Shadowfax - How it Works?
Shadowfax - Industry
Shadowfax - Founders and Team
Shadowfax - Startup Story
Shadowfax - Mission and Vision
Shadowfax - Name and Tagline
Shadowfax - Services
Shadowfax - Business Model
Shadowfax - ESOPs
Shadowfax - Challenges Faced
Shadowfax - Shareholders
Shadowfax - Growth
Shadowfax - Financials
Shadowfax - Funding and Investors
Shadowfax - Acquisitions
Shadowfax - Partnerships
Shadowfax - Awards and Recognitions
Shadowfax - Competitors
Shadowfax - Future Plans

Shadowfax - About

Shadowfax is an on-demand hyperlocal delivery platform provider. It is committed to helping retailers concentrate on their main line of business by contracting out last-mile delivery work. Serving Indian clients, the business effectively accomplishes this through tracking orders, analyzing delivery data in depth, and gaining access to consumer insights. Customers can quickly track their orders by inputting the AWB number into an easily accessible tracking system at tracker.shadowfax.in.

Shadowfax - How it Works?

The company's platform offers tech-enabled one-stop delivery services for e-commerce, restaurants, FMCG, pharmacy companies, and online and offline retailers, along with empowering businesses with cutting-edge technology in terms of logistics and access to a reliable delivery network to make fast and efficient delivery possible.

Within a short period, Shadowfax has become one of India’s largest last-mile delivery platforms with more than 1.5 lakhs transacting delivery partner networks. The last-mile logistics network that Shadowfax offers is tech-enabled and emerges as a one-stop delivery solution. The unique app of Shadowfax helps with the effortless delivery of food, grocery, pharmacy, and e-commerce products for businesses and individuals, thereby delighting the customers for real.

With its feature-rich technology and unmatched network, Shadowfax benefits the brands as well as the riders, making swifter deliveries possible.

Advantages for the Brands:

• Shadowfax makes customized deliveries possible
• With an in-demand rider network, Shadowfax promises to meet the fluctuating business requirements
• Home delivery of products across multiple categories

Advantages for the Riders:

• Shadowfax extends the flexibility of rides
• With a single app that the riders need to handle, they can make the most of a day
• Shadowfax boasts faster payouts and unlimited opportunities to earn for the riders

All can use the Shadowfax app after an easy Shadowfax login process that they need to complete, which can be done once they have created their own Shadowfax accounts.

Shadowfax has numerous big companies as its clients, which include Domino's, Big Basket, Amazon, Paytm, Flipkart, Myntra, McDonald’s, 1MG, and many other smaller restaurants, merchants, and retailers.

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Shadowfax - Industry

The analysis from Mordor Intelligence indicates that there will be significant development in the courier, express, and parcel (CEP) sector in India. It is projected to grow from its valuation of $ 8.58 billion in 2024 to $15.93 billion by 2030 at a strong CAGR of 10.87%.

According to the report, this development can be attributed to the growing e-commerce sector, changing consumer preferences, and technological advancements. According to Mordor Intelligence, these elements will play a crucial role in determining how the Indian CEP market develops over the next few years and will boost the sector's productivity and level of competition.

Shadowfax - Founders and Team

Shadowfax was initially founded by IIT-Delhi alumni Abhishek Bansal and Vaibhav Khandelwal in April 2015, after which they were joined by two more IIT Delhi alumni, Gaurav Jaithliya and Praharsh Chandra.

Abhishek Bansal

Abhishek Bansal is the Co-Founder and CEO of Shadowfax. He graduated from IIT Delhi with a BTech in Production and Industrial Engineering. After working for Hay Group for around 2 years as a Business Analyst and an Associate Consultant, Bansal co-founded Shadowfax, where he still serves as the Co-Founder and CEO.

Vaibhav Khandelwal

Vaibhav Khandelwal is the Co-Founder and CTO of Shadowfax. He was also a student at IIT Delhi, where he completed his BTech in Electrical, Electronics, and Communication Engineering. Starting as a Research Intern at Adobe, Khandelwal served as a System Two Advisor, LP, at Research Analyst. However, he left the job within a year of joining and eventually decided to co-found Shadowfax with Bansal.

Gaurav Jaithliya

Gaurav Jaithliya is the Co-Founder and Chief of Business Strategy of Shadowfax. He was also a student of IIT Delhi, from where he completed his Dual Degree in Mathematics and Computing. GulfTalent was the first company that Gaurav joined, after which he joined Shadowfax as a Co-founder and the Chief of Business Strategy and he is still serving the role.

Praharsh Chandra

Praharsh Chandra is a Co-Founder and the Chief Business Officer at Shadowfax. Praharsh Chandra was a Mechanical Engineering student who completed his BTech degree from the IIT Delhi, much like the other co-founders, and then interned at HUL. After interning for around 3 months, Chandra joined A.T. Kearney. He worked with the company for around 2 years as a Business Analyst and a Senior Business Analyst, eventually leaving it and co-founding ShadowFax.

Shadowfax - Startup Story

Shadowfax when started out, its goal to transform meal delivery, and it attracted notice for its creative thinking. Seeing bigger opportunities, the founders went beyond food delivery to become a hyperlocal platform for express mail, electronics, furniture, pharmacy, groceries, and lifestyle delivery.

With this tactical change, Shadowfax entered a new and exciting phase as a prominent participant in the delivery services industry. By accommodating a range of consumer and commercial demands, the company established itself as a flexible solution provider for different delivery needs.

As a multi-vertical hyperlocal delivery behemoth, Shadowfax has grown from a specialized food delivery firm to a testimony to entrepreneurial vision. This voyage demonstrates its dedication to innovation and satisfying the changing needs of the market.

Shadowfax - Mission and Vision

The company's mission on its website states, "Build the fastest and most reliable logistics network by empowering a million microentrepreneurs through technology to deliver anything, anywhere."

The company's vision on its website states, "Enabling commerce by empowering lives for everyone, everywhere."

Shadowfax - Name, Tagline and Logo

Shadowfax is "Derived from the mythical creature of "Lord of the Rings", Shadowfax is named after the "Lord of all horses", who is an epitome of monumental speed and communication, much like our reliable and agile logistic offerings."

The Shadowfax tagline is "We Deliver."

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Shadowfax - Services

Shadowfax provides below services:

Shadowfax Hyperlocal

Shadowfax Ecommerce

Shadowfax Quick Commerce

Shadowfax - Business Model

Shadowfax operates an unusually built business-to-business logistics network in more than 2,500 cities in India as of now. The startup works with neighborhood stores to use their real estate to store inventory and has a large network of freelancers for delivery.

E-commerce contributes the most to Shadowfax's business. Food and groceries are next, while reverse logistics account for the rest of them. Shadowfax also has a courier tracking system, which provides an online automatic tracking system to track shipments. Customers can track the current status of the parcel instead of visiting the courier location or calling the customer service center.

Shadowfax - ESOPs

Shadowfax rolled out an employee stock ownership plan (ESOP) buyback plan for its employees on December 8, 2020. The total value of the ESOP plan was estimated at around $5 million and was solely designed to reward its employees as the business recovered post the pandemic. As per the buyback plan, Shadowfax allowed the eligible employees, who have been granted the ESOP options and have completed more than 4 years with the company, to sell 35% of their assigned or vested ESOP shares.

Shadowfax - Challenges Faced

Shadowfax faced the challenges associated with the launch, including early operational obstacles that needed quick fixes. According to Abhishek Bansal, the business realized how important it was to operate across a variety of sectors with different peak hours. This tactical change was made in order to optimize efficiency and allow a single delivery person to service several groups at once.

Financially speaking, Shadowfax presented a significant issue in January 2016 with a startling minus 35% margin. But the group's fortitude and wise choices produced a stunning comeback, and by the end of the year, they had a 4% lead. In spite of these financial difficulties, Shadowfax's growth trajectory remained stable, as seen by its threefold rise in 2017.

Bansal noted that all platforms operating in the same-day delivery market depend on Shadowfax's services, underscoring the latter's critical role in the industry. The organization demonstrated its flexibility and resilience in managing the intricacies of the startup scene by taking on these difficulties head-on without focusing on the precise answers.

Shadowfax - Shareholders

Shadowfax shareholding as of February 2024 (source: Tracxn):

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Shadowfax - Growth

Some of the major growth milestones of Shadowfax are:

• It has 30 lakh verified riders as of February 2024
• The company has 1.5 lakhs monthly transacting delivery partners as of February 2024
• It delivers 15 lakhs+ orders daily as of February 2024
• It has a presence in over 2500 cities as of February 2024
• It is delivering to 15,000+ pin codes as of February 2024

Shadowfax - Financials

Shadowfax witnessed strong revenue growth of 33.3% in FY24, reaching INR 1,896.5 crore, up from INR 1,422.9 crore in FY23. However, expenses also increased by 21.9%, rising from INR 1,565.5 crore in FY23 to INR 1,908.4 crore in FY24. Despite higher costs, the company significantly reduced its losses by 91.6%, narrowing from INR 142.6 crore in FY23 to INR 11.9 crore in FY24, indicating improved financial stability.

Shadowfax Revenue

Revenue of Shadowfax increased by 33.3% from INR 1,422.9 crore in FY23 to INR 1,896.5 crore in FY24.

Shadowfax Expenses

Expenses of Shadowfax increased by 21.9% from INR 1,565.5 crore in FY23 to INR 1,908.4 crore in FY24.

Shadowfax Profit/Loss

Shadowfax's loss reduced significantly from INR 142.6 crore in FY23 to INR 11.9 crore in FY24.

Quick Financial Summary of Shadowfax

• Revenue grew by 33.3% in FY24 compared to FY23, reaching INR 1,896.5 crore.
• Loss reduced significantly from INR 142.6 crore in FY23 to INR 11.9 crore in FY24.
• Major cost drivers include an increase in operational and other expenses.
• Business implications: Improved revenue growth and reduced losses suggest stronger financial stability and operational efficiency.

Shadowfax - Funding and Investors

Shadowfax has raised a total of $234 million in funding over 12 rounds. Shadowfax raised $4 million in its Series F round, led by Mirae Asset and NGP Capital, closing at a $712 million valuation in February 2025.

Here's a look at the Shadowfax funding table:

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Shadowfax - Partnerships

Uber

Uber has partnered with logistics provider Shadowfax to enhance its bike taxi service, Uber Moto, in India. The collaboration adds over 2 lakh two-wheelers to Uber’s fleet, boosting service coverage and reliability for riders seeking quick, affordable commutes.

RapidShyp

RapidShyp, Om Logistics' eCommerce shipping platform, has partnered with Shadowfax to offer express delivery to D2C brands across 15,000 pin codes in India, with plans for nationwide expansion.

Shadowfax - Acquisitions

Shadowfax has acquired two companies to date. The company acquired NuvoExon on October 31, 2017, a specialized logistics services provider that specializes in handling reverse flow issues in the Indian e-commerce industry. On November 9, 2015, Shadowfax further broadened its range of offerings when it acquired Pickingo, an on-demand B2B hyperlocal delivery service provider.

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Shadowfax - Awards and Recognitions

Ever since Shadowfax came into being, the company has grabbed awards and recognition every now and then. Here is a list of the prominent awards and recognitions garnered by Shadowfax:

• The company has been declared the best Third logistics company at the India Retail, E-commerce, and D2C Summit 2023
• The company has won Operational Excellence Awards by ONDC's Elevate Awards 2023
• The company was awarded the Silver award for Outstanding Performance in the COVID Focussed Community Support at the 4th CSR Health Impact Awards, 2020 COVID Edition
• Shadowfax was declared the winner in the category of Innovation in Transport Tech at the 10th Aegis Graham Bell Awards, 2020
• The company was recognized as the winner of Excellence in Innovation by ET at its Now Stars of the Industry Awards, 2019
• Shadowfax was also conferred the title of winner of Disruptive Startup Logistics of the Year at the 9th Inflection Conference & Awards, 2019
• Amazon awarded Shadowfax, the Excellence Super Star Award in 2019, as the winner of Best Emerging Service Partner ‍
• Shadowfax also boasts of being the winner in Providing last-mile delivery services at the Flipkart Last Mile Agency Award of 2019
• Shadowfax was also recognised at the Mahindra Transport Excellence Awards, 2019, as the winner of Dream Chasers for Driving Positive Change ‍
• The company was also a part of Forbes 30 under 30, listed by Forbes in 2019
• Shadowfax won Best use of Technology in Contact Center (Logistics) in the 2nd Annual CX Excellence Awards 2023

Shadowfax - Competitors

The top competitors in ShadowFax's competitive set are:

• Delhivery
• Ecom Express
• Rivigo
• Xpressbees
• Ekart
• DHL
• FedEx

Shadowfax - Future Plans

Bansal stated that Shadowfax, which is now profitable, is aggressively looking for additional prospects. Within the next 24 months, the company hopes to list on the Indian stock exchanges, which would be a major accomplishment in its goal of expanding through strategic acquisitions.

Shadowfax plans to use the recently raised funding to grow its middle-mile network over the next 18 months. Their objective is to improve delivery services to include all 20,000 Indian pin codes. This growth strategy demonstrates Shadowfax's resolve to become a major force in the logistics industry by demonstrating its dedication to providing effective logistics solutions over a larger region.

Logistics startup ShadowFax plans to raise INR 2,500–3,000 Cr through an IPO, aiming for a valuation of INR 5,000–8,000 Cr. Promoters and investors are in talks with merchant bankers to move the process forward.

FAQs

What is Shadowfax Technologies Ltd.?

Shadowfax is an Indian company that offers on-demand hyperlocal delivery with delivery analytics by analyzing delivery data, order tracking, as well as access to consumer insights.

Who is the CEO of Shadowfax?

Abhishek Bansal is the current CEO of Shadowfax.

Who founded Shadowfax?

Shadowfax was founded by Abhishek Bansal and Vaibhav Khandelwal and was joined in by Gaurav Jaithliya and Praharsh Chandra, in 2015.

When was Shadowfax founded?

Shadowfax was founded in 2015, by initially by Abhishek Bansal and Vaibhav Khandelwal, while Gaurav Jaithliya and Praharsh Chandra joined the list of the company's co-founders in December 2020.

What is Shadowfax courier tracking and how is Shadowfax tracking done?

Shadowfax allows all the users to track their couriers during the time they are with Shadowfax with the help of its intelligent Shadowfax courier tracking facility. To use Shadowfax tracking, you simply need to visit tracker.shadowfax.in, and then enter your AWB Number and click/tap on Track Order to track your order.

Where is the Shadowfax office?

The Shadowfax office is in Bangalore, India.

How to proceed with Shadowfax login?

The Shadowfax login is an easy process in which you simply need to visit the Shadowfax website in order to log in. However, it is important to note that you should be having your Shadowfax account first, in order to begin with it.

How Shadowfax works?

Shadowfax is a logistics platform that connects businesses with delivery partners for last-mile, same-day, and on-demand deliveries. It uses technology to assign orders to riders, optimizing routes for speed and cost efficiency.