Shadowfax Likely To Double Valuation With Fresh Funding

Flipkart-backed logistics startup Shadowfax is reportedly in advanced discussions of raising INR 350-400 Cr (around $45 – 50 Mn) in a fresh funding round, which would likely double its valuation to around INR 5,500- 6,000 Cr ($700 Mn).

As per ET, this will be the company’s last private funding round ahead of its initial public offering (IPO).

Inc42 has reached out to the company. The story will be updated based on its responses.

The fundraise will see a host of domestic family offices, mutual funds and high-net-worth individuals (HNIs) joining the company’s cap table.

Wealth managers, including Nuvama and InCred are also in talks with Shadowfax regarding this funding round. However, the company will finalise its investors in the coming few weeks.

(The story will be updated soon)

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