Flipkart invests $60 million funding to Shadwowfax

Flipkart has led a US$ 60 million investment in Shadowfax to strengthen its logistics network in the nation. “We have seen strong synergies with Shadowfax through our existing engagement with them, and their investments in tech-enabled innovations will help us significantly reduce delivery time and provide superior customer experiences across product categories. By leveraging kirana stores and the deep delivery capabilities of Shadowfax and other Flipkart-led innovations, we are building a strong foundation to make inroads into a dynamic hyperlocal consumer market,” said Kalyan Krishnamurthy, Chief Executive Officer, Flipkart.
The Series D funding round also saw the participation of Eight Roads Ventures, NGP Capital, Qualcomm Ventures, Mirae Asset Naver Fund, and the World Bank-backed International Finance Corp.