Shadowfax, a rapidly growing logistics firm, is close to securing a significant funding round of Rs 350-400 crore, pushing the company’s valuation to an estimated Rs 5,500-6,000 crore. This round is expected to be the final private funding before the company takes the plunge into an initial public offering (IPO), as shared by insider sources.
Initially, Shadowfax aimed to raise around $30-35 million in this round. However, given the upcoming IPO and its increasing focus on quick commerce, the company decided to raise the funding target, a source revealed.
As part of this funding expansion, some investors may opt to sell a portion of their shares in a secondary sale.
Domestic family offices, mutual funds, and high net-worth individuals (HNIs), who often join the capitalization table before a public issue, are expected to participate in this round of funding.
Additionally, wealth management firms like Nuvama and InCred, which coordinate investment opportunities for their private clientele, have been in talks with Shadowfax to partake in this round.