Shadowfax Cofounders Boost Startup with $7.5 Million Investment Ahead of IPO

Logistics startup Shadowfax, which is preparing for an initial public offering (IPO), has received a $7.5 million investment from its cofounders Vaibhav Khandelwal and Abhishek Bansal. Following this investment, the company's valuation has reached $750 million.

Of the total investment, Abhishek Bansal contributed $4.28 million, while Vaibhav Khandelwal invested $3.22 million. In a separate filing, Shadowfax disclosed that it secured an additional $1.25 million from IMM India Fund through the issuance of 1,838 Series F CCPS.

Founded in 2015, Shadowfax has established itself as a key player in India's logistics sector, providing fast delivery services and supply chain solutions for e-commerce and retail businesses. As the company moves closer to its IPO, it continues to strengthen its financial position through strategic investments.

With the fresh capital infusion, Shadowfax aims to expand its operations and enhance its logistics network across the country. The upcoming IPO is expected to play a crucial role in shaping the company's future growth trajectory, though further details regarding the listing are yet to be announced.