Gurgaon based on-demand hyperlocal merchant delivery service, Shadowfax has raised an investment of $300,000 in an angel round led by Kunal Bahl and Rohit Bansal of Snapdeal, Zishaan Hayath of Powai Lake Ventures, and Prashant Malik of Limeroad.
The startup has a tech enabled delivery service that uses multiple modes of communication in order to provide relevant solutions in the Indian context. It employs integrated GPS tracking functions and automated algorithms in its product to improve the efficiency of the network.
Vaibhav Khandelwal, CTO & Co-founder, Shadowfax, elaborates, “We have incorporated several features that leverage our proprietary end-to-end capacity planning algorithm to put the merchant directly in touch with the rider, geo-location for tracking orders, rider route planning, order coupling etc.”
The startup service was launched in May 2015. Today it has an average delivery volume processing of approximately 3000 orders a day and 120-150 outlets that are currently utilising its service for last mile delivery in the Delhi-NCR region. The company is planning to grow its present team of 35+ employees and 350+ riders and expand into 10 more cities within the next one year. The company further aims to take its services beyond food delivery and expand its efficient logistical infrastructure to multiple other categories.
In July, service provider for hyper local logistics roadrunnr raised $11 million from Sequoia Capital, Nexus Venture Partners and Blume Ventures to enhance its technology platform, expand nationally and build a dense delivery network.Category Investments Startups