Shadowfax, an on-demand logistics startup, has today announced that it has secured $10 million as a part of its Series B funding round. This capital infusion comes from existing investor Eight Roads Ventures, an investment arm of Fidelity International.
While the company has not revealed any more financial details related to the latest round, the company’s CEO Abhishek Bansal has revealed that the latest round comes “with a significant mark-up” in valuation.
Kabir Narang, partner and head of technology and financial services investments at Eight Roads Ventures, said,
Shadowfax has demonstrated growth with attractive unit economics across its key markets. The company has built a differentiated technology platform and diversified from being a food-only delivery player to now delivering for grocery, pharmacy and e-commerce clients.
Abhishek Bansal, CEO of Shadowfax, said:
Our key focus…