Logistics startup Shadowfax attracts $100-M from NewQuest others

Logistics startup Shadowfax has attracted USD 100 million in a round led by NewQuest (now part of TPG). Existing investors including Mirae Asset, IFC, Flipkart, Nokia Growth Partners, Qualcomm, and venture debt investor Trifecta Capital also participated in the round.Eight Roads Ventures, Shadowfax’s first institutional investor from 2015, has made a partial exitShadowfax will use the primary capital portion to strengthen its middle-mile network and extend its last-mile delivery services to cover 20,000 pin codes across the country. The company currently boasts of a distribution network that stretches across 2,500+ cities and covers over 15,000 pin codes. It delivers 2 million packages daily.