 "Shadowfax, Abhishek Bansal, Vaibhav Khandelwal")
Bengaluru-based logistics start-up Shadowfax has raised $22 million in Series C funding led by US-based NGP Capital,
Qualcomm Ventures, Mirae Asset and existing investor, Eight Roads Ventures, also participated in the round.
The company will use the funds to scale up operations by connecting to 400,000 new businesses and delivery partners to its platform by 2021, up from the current 40,000 connections.
Shadowfax currently claims to fulfil 90,000 unique orders per day and has multiplied its capabilities three-times in the past 16 months alone and is projecting 150 per cent year-on-year growth for the next five years.
Upal Basu, Partner at NGP Capital, said,
