Walmart's Flipkart invests in Shadowfax as part of $60 mn funding round

A logistics firm, Shadowfax will use the funding to increase the number of shipments to 100 million a month and expand its geographical presence to 1,000 Indian cities

Walmart-owned e-commerce company Flipkart said it has made a strategic minority investment in Shadowfax, a cross-category and full-stack logistics platform founded in 2015. This investment is part of a $60-million Series D funding that Shadowfax has received from Eight Roads Ventures, Nokia Growth Partners, Qualcomm Ventures, Mirae Asset Naver Fund, and World Bank-backed IFC.

Flipkart has an existing partnership with Shadowfax to fulfill logistics requirements across various categories in its e-commerce business. As Flipkart focuses on building a sustainable hyperlocal ecosystem, it is working towards bringing offline Kirana stores into the fold of e-commerce by enabling them to be a part