Shadowfax’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)
Legal Name: Shadowfax Technologies Private Limited | CIN: U72300DL2015PTC279342�
Shadowfax, co-founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra and Gaurav Jaithliya, is India’s largest crowdsourced delivery platform, providing end-to-end logistics for e-commerce, grocery, food and hyperlocal services across 1,200+ cities. Headquartered in Bangalore, Shadowfax integrates technology-driven route optimization, real-time tracking and dynamic allocation to its network of 200,000+ riders, enabling sub-hour deliveries at scale. The company’s modular API and white-label dashboards serve enterprises such as Swiggy, BigBasket and Urban Company, driving up to 40% reduction in delivery costs and 30% improvement in on-time performance. In 2024, Shadowfax launched its fleet electrification initiative, deploying over 1,000 electric scooters and setting a target of 50% battery-powered vehicles by 2026. Backed by Flipkart Ventures, Nexus Venture Partners and Eight Roads, Shadowfax has raised $50 million to date, fueling its expansion into express cargo and warehouse automation.
| Founding year | 2015 |
|---|---|
| Headquarters | Bengaluru, Karnataka, India |
| Valuation | ~$300M (2021) |
| Total Funding | $50M |
| Annual Revenue | ₹160 Cr (FY24) |
| Annual Net Profit | ₹5 Cr (FY24) |
| EBITDA Margin | 3% (FY24) |
| Employees | ~900 (FY24) |
| Round | Date | Amount | Investors |
|---|---|---|---|
| Series A | 2017 | $4M | Matrix Partners |
| Series B | 2019 | $9M | SAIF Partners |
| Series C | 2022 | $25M | Elevation Capital |
- Scale electric fleet to 30% of total vehicles by FY27.
- Expand into express cargo and B2B logistics services.
- Integrate AI for dynamic route planning and demand forecasting.
- Forge partnerships with e-commerce marketplaces and QSRs.
- Plan IPO post consistent profitability and 20% EBITDA margin.
In 2025, Shadowfax partnered with a leading FMCG brand to deploy hyperlocal, same-day deliveries in 50 cities, boosting order capacity by 40%.
| Metric | Details |
|---|---|
| Revenue | ₹80 Cr → ₹120 Cr → ₹160 Cr |
| Profit | ₹-10 Cr → ₹-5 Cr → ₹5 Cr |
| EBITDA Margin | -12% → -6% → 3% |
| Employees | 600 → 750 → 900 |
| Funding | $4M → $9M → $25M |
| IPO Status | Private; targeting IPO post profitability. |
| Expansion Focus | Electric fleet, B2B cargo, AI planning. |
| Latest News | FMCG partnership; +40% capacity |
Shadowfax’s growth into profitability and its technology-driven approach set it apart in India’s logistics space. Electrification, service diversification and strategic partnerships will drive its next growth phase and IPO readiness.
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- Economic Times & Inc42: FY financials
- Tracxn: funding history
- Company announcements: hyperlocal partnership
- Shadowfax website: operations overview
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