According to documents published on the Securities and Exchange Board of India’s (Sebi) website, Flipkart-backed logistics company Shadowfax Technologies has been given the go-ahead to move on with its IPO. In the week ending October 10, Sebi released its comments regarding the company’s pre-filed draft.
In July, Shadowfax filed its draft red herring prospectus under Sebi’s pre-filing procedure, which allowed the company to test investor interest and fine-tune offering details without revealing critical company information to the public. According to sources, Shadowfax is anticipated to submit an amended draft prospectus in the days ahead now that regulatory clearance has been obtained.
How Shadowfax Plans to Execute its IPO Listing
By combining a new issuance with an offer for sale by current shareholders, the offering is anticipated to raise between INR 2,000 crore and INR 2,500 crore. The IPO might value the company at over INR 8,500 crore, according to reports. This price is a substantial premium over its February 2025 financing round valuation of almost INR 6,000 crore, indicating investor confidence in the future potential of the logistics industry.
The company raised primary and secondary capital at an approximate valuation of INR 6,000 crore in February 2025, which was the last time it raised funds. According to insiders, the company intends to use the money raised from the new issuance to expand its network operations, boost growth, and increase capacity.
How Shadowfax Plans to Use Proceeds?
According to insiders, the company intends to use the money raised from the new issuance to expand its network operations, boost growth, and increase capacity. About 75% of the company’s revenue comes from the e-commerce division, which puts Shadowfax in a strong position to profit from India’s expanding online retail market.
The rest is derived from hyperlocal delivery and rapid commerce. Prominent investors like Flipkart, TPG, Eight Roads Ventures, and Mirae Asset Ventures support Shadowfax. Several Indian logistics and delivery firms, such as Delhivery, XpressBees, Ecom Express, Blue Dart, and Shiprocket, compete with it. In fiscal 2024, the company’s revenue increased by 33.2% to INR 1,885 crore, but its losses decreased significantly to INR 11.8 crore, which was roughly 92% less than the year before.
Quick Shots
•Flipkart-backed
Shadowfax Technologies secures SEBI clearance to move ahead with its India
IPO.
•SEBI
issued its observations in the week ending October 10, 2025, as per filings
on its website.
•Shadowfax
had filed its draft red herring prospectus in July under SEBI’s pre-filing
route.
•The
logistics startup is expected to raise INR 2,000–INR 2,500 crore through a
fresh issue and offer for sale.
•The
IPO may value Shadowfax at over INR 8,500 crore, up from INR 6,000 crore in
its February 2025 funding round.
•Proceeds
from the IPO will be used to expand network operations, boost growth, and
increase capacity.
The growth of the e-commerce industry impacted the courier business. Due to more shopping in the eCommerce platform courier business is becoming one of the fastest-growing markets in India nowadays. Courier and delivery companies provide various services starting from the online courier and cargo marketplace and finishing with logistics. There aremany courier and delivery franchises in India. Courier services are distinguished from mail services by features such as speed, security, tracking, and specialization. They operate on all scales from within specific towns or cities to regional, national, and global services.
With a wide range of courier franchise options available in India, it can be challenging to choose the best one. In this blog, we will explore some of the best courier and delivery franchise business options in India that offer a lucrative opportunity for individuals interested in starting their own business. We will discuss all of the important aspects that can help you make an informed decision and take the first step toward a successful entrepreneurial journey.
DTDC empowers courier delivery services in India. Being one of the oldest and best courier services in the country established back in 1990, DTDC/DTDC Express Limited, or Desk to Desk Courier & Cargo, was founded by Subhasish Chakraborty headquartered in Mumbai, and handles over 12 million shipments every month. It has become a leading courier service provider, offering domestic and international courier services, e-commerce logistics solutions, and warehousing services.
The franchise model is designed to be easy to set up and operate, and DTDC provides extensive training and support to franchisees. Through its affordable franchise framework, DTDC met customers’ needs for access to technology, a place to store their goods, and expert advice. To become a DTDC franchisee, you need to have a minimum investment of around INR 2 to 3 lakhs, depending on the location and size of the franchise. The franchisee is also required to have a minimum space of 200 to 500 sq. ft, depending on the type of franchise. DTDC offers different types of franchise models, including master franchise, super franchise, and unit franchise, each with different investment requirements and benefits. It is the top e commerce delivery franchise in India.
Now, DTDC has more than 12,000 partners all over the country who are doing well. The franchisee’s field staff can get training at DTDC’s branch offices on a wide range of operational problems.
In case you are looking for a reputed courier service franchise, then DTDC is a great option!
Ship n’ Fly Open Market is India’s first-ever online courier and cargo marketplace which connects customers with customer-reviewed delivery companies. Established in 2014, the franchise aims to provide affordable and reliable courier services to customers across the country. Ship n’ Fly provides a transparent, collaborative, trustworthy environment and produces the best results for customers, colleagues, and partners. It has created an opportunity for aspiring entrepreneurs and businessmen to get associated with us in the form of a franchise. It is classified as a Non-govt company and is registered at RoC-Cuttack.
To become a Ship n’ Fly franchisee, you need to have a minimum investment of around INR 5 to 10 lakhs, depending on the location and size of the franchise. The franchisee is also required to have a minimum space of 300 to 500 sq. ft, depending on the type of franchise.
With its focus on eco-friendly courier services and the support of a strong franchise model, a Ship n’ Fly franchisee can enjoy a profitable business with a high potential for growth.
In 1999, InXpress was founded in Rochdale, a city in the UK. Originally, founder John Thompson managed the company out of his Rochdale bedroom. The company first joined the American market in 2006 and then expanded to Australia and New Zealand shortly after. There are 440 franchisees operating this courier service in 14 different countries, serving a total of 30,000 clients. InXpress is a global shipping franchise organization delivering great carrier solutions to small and medium-sized businesses for domestic and international companies. It is not a retail shipping franchise, rather it is a business-to-business franchise, which means that its primary customers are other businesses. The franchise offers discounted shipping rates and customized shipping solutions to its customers. InXpress shipping solutions are facilitated by industry-leading technology that allows you to build a flexible business with the support of a global franchise system.
To become an InXpress franchisee, you would need to meet certain requirements, such as having a minimum net worth and liquid capital, as well as passing a background check. InXpress provides training and ongoing support to its franchisees, including assistance with marketing and sales. It is a profitable courier company franchise.
As the industry leader in disruptive technology, InXpress gives its franchisees an advantage. InXpress can offer reasonable pricing thanks to its extensive network of reliable courier partners. This frees up the investors to focus on growing their business.
Top Courier Franchise in India – Day Xpress Courier and Cargo Services
Day Xpress Services Pvt Ltd. was founded in Mysore in 2015. The Day Xpress Courier and Cargo Services are one of the up-and-coming dispatch and load administrations of South India in the present market. It provides the best services of courier, parcel delivery, and bulk distribution delivering at a cheaper cost compared to other domestic courier and Cargo companies in Karnataka, India. This organization can offer cost-efficient, hassle-free, and prompt logistics solutions.
By offering franchises, Day Xpress Courier & Cargo Services encourages ambitious young people to launch their businesses. This courier franchise assists in the form of training, assistance with business setup, a manual outlining daily operations, and continuous business advice. Plus, the investor doesn’t have to worry about lacking the necessary abilities to run the franchise because the training they receive from the franchisor will take care of that.
Xpressbees was founded by Amitava Saha in September 2015 and has exhibited clear growth since then. Hailed as one of the fastest-growing courier franchise, delivery, and express logistics service providers, Xpressbees has witnessed close to 100% growth in revenue on a year-to-year basis. Xpressbees is headquartered in Mumbai and successfully delivers 50,000 shipments a day. XpressBees has a huge network that helps with more than 3 million packages going to more than 20,000 pin codes every year and is one of the top courier franchises in India. It is in the list of the top 10 courier franchise in India.
This courier franchise has a network of over 3,500 service centers, 150 hubs, and more than 28,000 committed Field Service Representatives. This makes it very easy to meet the wide range of evolving logistical needs of its valued customers.
Four engineers—Suraj Saharan, Mohit Tandon, Bhavesh Manglani, and Kapil Bharati—started Delhivery in 2011. It didn’t take long for Delhivery to become India’s top B2B, B2C, and C2C logistics company by offering low-cost storage, transportation, and eCommerce services.
Delhivery has become India’s leading supply chain services company that provides e-commerce fulfillment, express courier, and reverse logistics services. It is the backbone of the logistics industry. Delhivery vision is to become the operating system for eCommerce in India, through a combination of world-class infrastructure, logistics operations of the highest quality, and cutting-edge engineering and technology capabilities. Delhivery had switched completely to offering logistics services to several eCommerce companies. It is one of India’s largest B2B & B2C logistic courier service providers India.
Delhivery has two types of franchises: one is a delivery center, and the other is a transport booking center. One needs to spend INR 10 to 15 lakh on a transport center and have 300 to 400 square feet of land to run their business. On the other hand, one can start a mail booking center with just INR 2 to 3 lakh, and he/she can run his/her business out of a small 70- to 80-square-foot space.
Blue Dart was started by Clyde Cooper, Tushar Jani, and Khushroo Dubash with INR 30,000. Within a 200-square-foot area under a staircase, Blue Dart was created to send small packages and samples to help India’s exports grow. Blue Dart made connections with Gelco Fast International in the UK and started India’s first air package fast service between countries.
Blue Dart or Blue Dart Express, as it is popularly known, was founded in 1983 and is a subsidiary of DHL and DHL Express (Singapore) Pte Ltd. Blue Dart is an Indian logistics company, well-known for its courier and delivery services. They do offer franchise opportunities for their courier services in India. The exemplary delivery franchise also has a cargo airline subsidiary that goes by the name, Blue Dart Aviation.
The investment required for setting up a Blue Dart courier franchise in India depends on the location, whether it is a city, state, or rural area, and the size of the commercial setup. In 2 or 3-tier cities, the investment ranges between ₹2 lakhs and ₹5 lakhs. The real estate prices in different cities and states will also influence the commercial value of the premises, affecting the overall costs of setting up the franchise. Besides the premises, the franchise will require a necessary number of vehicles, usually two-wheelers, and an appropriate number of staff members to operate the business.
For investors, opening a Bluedart business in India could be a good idea because the company makes more than $700 million (₹52,01,02,45,000+) a year around the world. In addition to offering franchise business, this courier franchise teaches management skills, such as how to handle real-time bookings as well.
In 2013, Hanzala Nadaf established King Worldwide. A well-respected national brand, this courier franchise is well-known for its friendly service. King Worldwide is the largest domestic and international delivery network in India. It had been a pioneer in doing business through a franchise in the courier and cargo business. King Worldwide is a National brand and is known for its goodwill. King Worldwide gives assured profit and has the potential for continuous growth. It provides regular training for you and your employees for international products. Also, it offers multimodal services to easily deliver from a letter to bulk shipments.
Currently, around 400 King Worldwide stores can be found in India. The single-unit booking office model accounts for 75% of King Worldwide’s revenue, reaching 95% of the network, and fulfilling the dreams of middle-class people. King Worldwide’s MBO franchise is its most important unit, and it can be established in various ways. It functions as an autonomous unit within a city or district with one or more reporting franchises. To rephrase, it serves the same purpose as an expanded branch and is accountable for the expansion of the company in that area. King Worldwide is one of the fastest-growing franchises in India.
Shadowfax Technologies Limited is a Bengaluru-based crowdsourced delivery platform. Shadowfax was originally founded in 2015 as a last-mile food delivery business. Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya started Shadowfax, an app that helps businesses use technology to make customers happy by delivering food, medicines, and products purchased through online shopping. Shadowfax has emerged as a promising delivery franchise that operates in over 500 cities across India and offers a range of delivery services, including same-day, next-day, and express delivery. The company also offers technology solutions, such as a mobile app and API integration, to help streamline the delivery process.
As a franchisee of Shadowfax, individuals receive training and support from the company to help them set up and run their business. Franchisees are responsible for managing their own delivery personnel, vehicles, and operations, while also adhering to the company’s standards and guidelines.
Some of Shadowfax’s backers include Qualcomm Ventures, International Finance Corporation, Flipkart, NGP Capital, and Mirae Asset Global Investments. In addition to handling the distribution of online orders, making money, and supervising franchisees’ delivery partners, this e-commerce delivery franchise offers a training program and grants access to an HR portal. The franchisee must have a well-established network of reliable technology, including computers, printers, and delivery drivers.
Top Courier Franchise in India – Shree Venkateshwara Cargo Express
Shree Venkateshwara Cargo Express is India’s leading door-to-door express distribution specialist offers integrated express distribution and customized supply chain solutions to customers across diverse industries. Shree Venkateshwara Cargo Express introduces itself as a single solution provider for all the procurement and distribution needs of the industry. Shree Venkateshwara Cargo Express believes that logistics plays a crucial role in any industry. It gives more focus on the cost and efficiency of any industrial operation. It has seamless connectivity across air, rail, and road with the widest branch network has resulted in many opportunities for customers.
Franchisees are provided with training, guidance, and operational support from the company to help them establish and grow their businesses. They are responsible for managing their own delivery personnel, vehicles, and operations while adhering to the company’s standards and guidelines.
Top Courier Franchise in India – SpreadWings Courier & Cargo
SpreadWings Courier & Cargo is the sole company that offers an excellent platform for young entrepreneurs with minimal capital in hand and also strives for their training. SpreadWings Courier & Cargo is one of the leading companies that offers Courier, Cargo & International Shipments door to door to esteemed customers. It has proven itself as the sole courier cargo service provider in India and abroad. It’s a mission to be the world-class technology-driven and customer-focused market leader in courier and logistics. SpreadWings Courier & Cargo fulfills the needs of time-critical or permanent recurring services.
Located in Mumbai, Pick Me Express came into being in 2015. Pick Me Express relies on its daily delivery of time-sensitive consignments and parcels. The success of Pick Me Express is the skills and common goals that every member of their team shares. It has many years of experience in the logistics industry at the senior level, in operations, key account management, sales, and business development. This franchise is dedicated to providing every customer with exceptional service.
Many senior-level employees of this courier franchise have worked in the logistics industry for many years, and the company itself has a lengthy history of success. Pick Me Express franchise is an excellent opportunity for entry-level business ownership, regardless of whether one has prior business experience or not. Individuals with a strong focus on customer service would be an ideal fit for the Pick Me Express Franchisee role. Franchisees collect and deliver packages within their designated zones. Pick Me Express is one of the low-cost franchises in India.
As a Pick Me Express franchisee, individuals can operate within an exclusive territory, collecting and delivering parcels in their designated area. This provides a great opportunity for aspiring entrepreneurs who want to establish a courier and logistics business with the support and guidance of an established brand.
P. Santhamurthy of Coimbatore founded Elbex Couriers Private Limited in 2012. Across the Indian states of Tamil Nadu, Maharashtra, Karnataka, Kerala, Delhi, Rajasthan, Uttarakhand, Gujarat, Uttar Pradesh, and Andhra Pradesh, this courier franchise has expanded rapidly, and it now operates with 30 own branches and 300+ franchisee outlets. Elbex Couriers Private Limited (ELBEX) is India’s fastest-growing brand in the courier & logistics world.
ELBEX offers multiple franchise opportunities :
Regional Franchise (State-wise operations)
Area Franchise (Region wise comprising 4/5 districts)
Super Franchise (District Wise)
Unit Franchise (Pin code / Taluk wise)
It is based on the investment and working capacity of the business aspirants. It serves customers with various service products to meet customer logistics requirements. The company also has tied up with all major international service providers to ensure cost-effective, time-bound services to all parts of the world.
In addition to its focus on customer service, Elbex Couriers offers its thousands of young, ambitious entrepreneurs and job-seekers in India excellent business and career prospects to become service associates. By becoming a Master Franchisee, Super Franchisee, or Unit Franchisee, the channel partners are granted the opportunity to operate inside a specific territory. At the franchisee level, the two mainstays of branch operations are pick-ups and deliveries, which are handled sequentially.
Top Courier Franchise in India – Super Fast Logistics Pvt. Ltd.
Super Fast Logistics Pvt. Ltd. is an expert in logistics services. It not only provides domestic and international mail services but also specialized value-added services like Customized Logistics Solutions (CLS) including warehousing, letter shopping, and fulfillment, variable data printing, as well as integrated business solutions, including mailroom management solutions, digitization, archiving services. Super Fast Logistics courier has in its workforce, highly experienced and professional personnel, having the highest level of commitment and who believe in personalized service to their customers.
With e-commerce shopping being at an all-time high with no signs of stopping, it is wise to look into a courier service franchise soon. We hope this list gives you an idea about where to start!
Vinoth Poovalingam started Flipkart’s outbound shipping company under the brand name eKart and it has changed the game. Ekart is run by Instakart Services Pvt. Ltd. Ekart was founded in 2009 and was taken over by Flipkart from WS Retail Services. The company is as trusted as Flipkart itself when it comes to its courier service franchise. Ekart boasts of delivering around 10 million shipments per month and most of their orders, around 85%, come from Flipkart.
Ekart has helped Flipkart grow by coming up with new services like cash-on-delivery, in-a-day guarantee (50 cities), and same-day guarantee (13 cities). With its new ideas for better delivery services for Flipkart users, this eCommerce courier franchise has recently teamed up with Tata CliQ and Voonik to meet the growing needs of couriers and build trust among customers. With the help of inventory management software, tracking orders has become easier and faster, thanks to advanced technology offered by eKart making it one of the top 10 courier services in India.
Top Courier Franchise in India – The Professional Couriers
The Professional Couriers has been serving as a courier service franchise since November 1, 1987, when the company was incorporated. Large-scale courier service hardly really existed till then when TPC came into being. Headquartered in Mumbai, TPC opened its first International Subsidiary Company – M/s The Professional International Couriers Pvt. Ltd back in 1999, thereby opening their International Operations Hub in all metro cities. The company further expanded with new entities like The Professional Couriers USA Inc., New York/USA, Professional Couriers LLC., Dubai/UAE, Professional Couriers Pte Ltd., Singapore in 2009.
Top Courier Franchise in India – MAX Courier Franchise
MAX courier franchise is a delivery franchise that deals with Ecommerce delivery franchise, document delivery, parcel delivery, and more. Boasting more than 750 branches across India, Max Courier started its operations in 2014 and eventually started its franchise 3 years later in 2017. It is an investible courier business franchise.
Top Courier Franchise in India – Overnite Express Ltd
Overnite Express Ltd, simply called Overnite Express, is a courier franchise in India, headquartered in New Delhi. Overnite Express has been associated with transport, cargo, and other courier services across the country and is currently known as a major player in the same space. The company claims to deliver 1.5 lakhs+ parcels each day and reaches out to over 1,100 cities with its 3,000+ branches distributed all over the country.
Gojavas is a Gurgaon-based logistics and supply-chain startup founded in 2013. According to the vision of Gojavas, the company aims to emerge as an industry leader and provide trustworthy, time-bound logistics and supply-chain solutions to all of its business partners. The company strongly believes in its motto, “delivering a million smiles” and is onwards to cement its presence in the fast-paced e-commerce industry as a delivery franchise.
In 2016, Rahul Chutani established Last Mile Xpress in the Delhi NCR area.It is an Indian courier franchise that takes care of the courier and delivery requirements of individuals from across the country. Last Mile Xpress also boasts professional pick-up and delivery services, which it extends to B2B and B2C customers. Their services range from bike-based to Eeco car/Tata Ace-based pick and delivery requirements.
The courier franchise gives investors the chance to join its network of franchises. With minimal outlay of capital and collateral. Last Mile Xpress is currently serving the National Capital Region (NCR), which includes cities such as Delhi, Faridabad, Gurgaon, Noida, Ghaziabad, Ballabgarh, Palwal, Kolkata and Bhubaneswar. Investors can monitor the outlet’s financial performance thanks to Last Mile Xpress’ strong technological structure.
Top Courier Franchise in India – Nonstop Courier and Cargo
Based in Chennai, Nonstop Courier and Cargo is designed to operate as a courier delivery franchise to ease the fulfillment of the pick-up and delivery requirements of customers from all around India. Nonstop Courier and Cargo takes utmost responsibility to professionally handle the pick-up and delivery orders coming from their customers without any delay.
Just Delivery is a logistics company recognized for its transportation, packers, and movers, loading, unloading, car transportation, and other services, which it offers to its customers from all around the country. The company claims to have customers from 2000+ companies that they work with in addition to other individuals who approach the company and it is considered as a profitable courier agency franchise.
DHL was started in 1969 in San Francisco by Adrian Dalsey, Larry Hillblom, and Robert Lynn. Across more than 220 countries and territories, 600,000 individuals work daily for this courier company, assisting customers in crossing borders, expanding into new markets, and boosting their business. With an investment range of around INR 2 to 5 lakhs, owning a DHL franchise is a promising business. A minimum of 250 to 300 square feet of space, whether owned or rented, is required to secure a DHL franchise in the desired location. But DHL also charges a franchise fee, which could be seen as a condition to open a franchise. DHL is one of the top franchises in India.
Ecom Delivery Limited is a top logistics company in India, providing end-to-end delivery solutions for retail and e-commerce businesses. It is based in Navi Mumbai, Maharashtra, and was founded in 2014 by Vanket Saye, Shivaram Singh, and K Uttam Jana, who have years of experience in logistics and distribution. The company serves e-commerce platforms, D2C brands, and both small and large online sellers.
With 12 offices, 150+ employees, and 30 channel partners, Ecom Delivery Logistics delivers for over 25,000 businesses and individuals.
Using advanced technology and automated systems, the company offers logistics services across 29 states and 6 union territories. It operates in 1100+ cities and towns, covering 18,600+ pin codes in India. Its main service, Ecom Delivery Logistics Services, includes first-mile pickup, processing, network operations, last-mile delivery, and handling returns.
Valmo is a trusted logistics provider in India, known for its transparency, affordability, and efficiency. It offers the lowest market prices, real-time tracking, timely deliveries, and 24/7 customer support. With nationwide coverage, Valmo ensures seamless shipping from cities to remote areas. Businesses seeking cost-effective and high-quality logistics solutions can rely on Valmo for a hassle-free experience. Getting a Valmo courier franchise is a profitable courier franchise business in India.
Conclusion
Courier and delivery services play a crucial role in today’s fast-paced world, providing efficient and timely transportation of goods and documents. The courier and delivery industry in India is growing rapidly, and there are many franchise opportunities available for individuals who want to start their own courier business.
By choosing the right courier franchise business, individuals can start their entrepreneurial journey with the support and resources of an established brand while also contributing to the growth and development of India’s logistics and transportation industry.
There is a high desire for these courier franchises to expand their reach since the market for courier services in India is predicted to increase by triple figures. While this market segment was previously very disorganized in India’s smaller towns and cities, things have changed thanks to the entry of several low-budget franchises, that have provided excellent opportunities for young entrepreneurs hailing from these areas to build successful brands.
FAQs
Which is the best courier franchise in India?
The top courier franchises in India are:
Ship n’ Fly
InXpress
DTDC
Delhivery
King Worldwide
Shadowfax
SpreadWings Courier & Cargo
Pick Me Express
Elbex Courier
Super Fast Logistics
What are the benefits of owning a courier franchise business in India?
Owning a courier and delivery franchise business in India provides numerous benefits, such as having access to an established brand name and systems, comprehensive training and support, and the opportunity to tap into a growing industry.
Is a courier business profitable?
Definitely! If done correctly, courier services will turn profitable in no time.
Is it expensive to start a courier franchise in India?
The cost of starting a courier and delivery franchise business in India varies depending on the franchise company, the size of the territory, and the type of services offered. Typically, the initial investment required ranges from a few lakhs to several crores of Indian Rupees.
What services do courier franchise businesses in India typically offer?
Courier franchise businesses in India typically offer a range of services, including same-day, next-day, and express delivery, logistics and supply chain solutions, and technology solutions such as mobile apps and online tracking.
When was DTDC founded?
DTDC was founded in 1990 and is headquartered in Bengaluru.
Which are the best courier services from India to USA?
Some of the best courier services from India to the USA include:
Shiprocket
FedEx
DHL
Aramex
Ecom
India Post
DTDC
How to apply for a courier franchise in India?
To apply for a courier franchise in India, you should research courier and delivery franchise businesses in India and contact the franchisor of the courier company you are interested in. Discuss the franchise opportunity and complete the franchisor’s application form along with any required documentation or fees. The franchisor will review your application and contact you to discuss next steps. If approved, you will sign a franchise agreement and receive training and support to establish and operate your courier franchise business.
Is there any courier franchise without investment?
Finding a courier franchise with zero investment is rare, but ePostBook offers a unique opportunity with no franchise registration fees, allowing you to earn by providing shipping services.
Abhishek Bansal, one of the co-founders of Shadowfax, is India’s largest crowd-sourced logistics portal. An IIT Delhi alumni, who recently turned 30, Abhishek has achieved in a few years what others struggle to achieve in a lifetime. Being an innovative and result-driven leader his focus is more on achieving exceptional results in the highly competitive logistics field. With his unwavering integrity and relentless passion, Abhishek has built Shadowfax as a strategic player in the logistics industry. With his deeply ingrained morals and the operations of major organizations in place, this startup has a uniqueness that made Shadowfax a household name in the country.
Abhishek was born and brought up in Meerut and is the first in his family to graduate from an IIT. Once he completed his graduation he went through multiple corporate jobs as a young engineer. But the restless innovator in him was slowly blooming. He worked a little in the Indian retail sector and later moved to China, where he developed a deeper insight into the world of logistics. In March 2015, with his friend Vaibhav, he co-founded Shadowfax.
Abhishek Bansal – Career Highlights
Abhishek worked as an Associate Consultant from 2012-2014 in Hay Group. During this time he worked with one of the largest global retailers across India and China for restructuring assignments. Additionally, the company also handled the entire transformation program for corporate finance, taxation, financial planning, and compliance. Abhishek also helped diagnose structural issues in the organization of a leading life insurance conglomerate in India.
Before joining the Hay Group, Abhishek served as the General Secretary for the Board of Student Welfare from March 2010-2011.
The Bangalore-based on-demand delivery service, Shadowfax, promises secure, speedy, and convenient delivery that is driven by cutting-edge technologies and a peerless network. Created in 2015, the brand is considered one of India’s largest hyperlocal delivery platforms that offer on-demand hyperlocal delivery options with improved delivery analytics.
Abhishek Bansal – Shadowfax
Shadowfax Founders Early Days
Abhishek and his friend Vaibhav built Shadowfax as an on-demand hyperlocal delivery platform provider that is committed to helping retailers concentrate on their main line of business by contracting out the last-minute delivery work. The brand serves mostly Indian clients, and accomplishes this through tracking orders, analyzing delivery data, and gaining access to consumer insights. The platform is also fairly easy to use as customers can track their orders by adding their AWB number to the tracker page.
Shadowfax was built as a tech-enabled one-stop delivery service for all eCommerce, restaurants, pharmacies, FMCgs, and both online and offline retailers to gain access to a reliable delivery network for fast and efficient delivery. With more than 1.5 lakh transactions Shadowfax is now one of India’s largest last-minute delivery platforms.
Abhishek is passionate about his work and ironing out any issues in the logistics industry. Other than this he loves to travel and explore new locations. He is also a LOTR fan and likes to read about business and social practices across the world. Abhishek is also an avid footballer and encourages his employees to play some form of sports.
Abhishek Bansal – Investments
Here are the investments made by Abhishek Bansal as sourced from Tracxn:
Invested In
Company Name
Nov, 2021
Attentive AI
Aug, 2021
Biddano
Jul, 2021
TradeX
May, 2021
Freightify
Jan, 2021
GoKwik
Nov, 2015
Singulariti
Jul, 2015
Shadowfax
Jan, 2012
Apple Institute of Child Health
Abhishek Bansal – Awards and Recognition
In September 2017, Abhishek launched a new concept where Shadowfax embedded social values into its unique logistics model. Due to this, the company was recognized and included in the top 100 upcoming companies by NitiAyog’s Champions of Change initiative. The Champions of Change initiative was an effort made by the Central Government to bring together diverse strengths in businesses for the benefit of society and the nation as a whole.
In 2018, Abhishek won the 40 under 40 awards by BusinessWorld, And in February 2019, Abhishek and Vaibhav Khadelwal won the title of Forbes 30 under 30 for exceptional contribution in the field of personal growth and work.
Facts About Abhishek Bansal
Abhishek starts his day with meditation and his daily routine of physial activity
He tries to read atleast one book a week
He plays football, tennis and squash whenever he gets time in the week
He started the quarterly sports event at Shadowfax called Shaolympics
The name Shadowfas is derived from the mythical creature from the LOTR series who is the epitome of speed and communication
He hails from IIT Delhi with a BTech in Production and Industrial Engineering.
FAQs
Who is Abhishek Bansal?
Abhishek Bansal is the CEO and co-founder of Shadowfax, a leading tech-enabled logistics company in India.
What is Shadowfax?
Shadowfax is a technology-driven logistics company that provides delivery services to e-commerce companies, food delivery platforms, and other businesses.
What is Abhishek Bansal’s leadership style?
Abhishek Bansal is known for his focus on innovation, technology, and customer-centricity. He emphasizes building a strong team and fostering a culture of growth and empowerment.
Prior to its initial public offering (IPO), last-mile delivery firm ShadowFax has appointed Bijou Kurien, Ruchira Shukla, and Pirojshaw Sarkari as independent directors to its board. The company statement claims that the new additions would improve its governance framework and solidify its place in the changing direct-to-business (D2C) and e-commerce markets.
According to Abhishek Bansal, cofounder and CEO of Shadowfax, the new hires will contribute extensive industry knowledge and strategic perspectives that complement our goal of revolutionising third-party logistics (3PL) in India. As we continue to dominate the logistics industry, their advice will be crucial. The recently hired independent directors at Shadowfax have a variety of backgrounds in addition to specific knowledge in the logistics industry.
Kurien has worked in the retail, consumer durables, and fast-moving consumer goods industries for over 35 years. He was also a founder member of Reliance Retail and Titan Industries. He works as a professional advisor for startups and private equity funds at the moment. At the moment, Shukla serves as managing partner and cofounder of the STEM-focused venture capital firm Synapses.
She has over twenty years of expertise in investment banking, strategic consulting, private equity, and venture capital in India, the US, and Europe. Her areas of expertise include edtech, health tech, consumer internet, B2B e-commerce, and climate tech. Sarkari, who was previously the MD and CEO of Gato Allcargo, contributes his experience in the logistics industry. He currently works with Inflection Point Ventures as an angel investor. He was the CEO of Mahindra Logistics as well.
Business Operations of Shadowfax
Bansal and Vaibhav Khandelwal founded Shadowfax in 2015, and it offers last-mile delivery services to D2C brands and e-commerce platforms. In addition, it provides value-added services to its customers, such as package exchange, reverse logistics, and expedited delivery choices.
Among its customers are Mamaearth, Nykaa, Flipkart, Meesho, and others. The move follows the Flipkart-backed startup’s announcement last year that it would seek INR 2,500–3,000 Cr through an initial public offering (IPO). Through its public listing, the business is considering a valuation of INR 5,000 to 8,000 Cr.
Recent Developments at Shadowfax
The IPO-bound business collected INR 34.24 Cr on February 3 from its current investors, Nokia Growth Partners and Mirae Asset. The business has raised $213 million since its founding and is supported by investors such as Eight Road Ventures, International Finance Corporation, Qualcomm Ventures, and others.
In order to further broaden its capabilities by implementing extensive and bespoke delivery services throughout the nation, the Bengaluru-based startup last week purchased the transportation and logistics company CriticaLog India Private Limited. In the fiscal year that concluded on March 31, 2024 (FY24), the company reduced its net losses from INR 142.6 Cr in FY23 to INR 11.8 Cr, a nearly 92% decrease. During the year under review, operating revenue increased 33.19% to INR 1,884.8 Cr from INR 1,415.1 Cr the year before.
The call for digitalization has certainly upped the startup ecosystem and made companies reach out to their target customers with products and services online. Along with the startups and established brands and businesses, the growing digitalization has also been constantly empowering entrepreneurs and other individuals to advertise and broadcast themselves online via diverse social media apps.
Here, it’s true that reaching the masses virtually or via the online route has become easy, but delivering them to their doorsteps and within a specific deadline has constantly been challenging. However, with the emergence of hyperlocal delivery apps and companies like Shadowfax, the world is truly turning into an easily navigable place with satisfied customers.
The Bangalore based on-demand delivery service, Shadowfax, promises speedy, secure, and convenient deliveries that are empowered by cutting-edge technologies and a peerless network. Founded in 2015, the company has steered to become India’s largest hyperlocal delivery platform, as per its website, which offers on-demand hyperlocal delivery with improved delivery analytics. Besides, it also delivers e-commerce and quick commerce orders fast and with optimum security.
Here’s more about the Shadowfax Founders and Team, Funding and Investors, Challenges, Competitors, Mission and Vision, Acquisition, and more.
Shadowfax – Company Highlights
STARTUP NAME
SHADOWFAX
Headquarters
Bangalore, Karnataka, India
Sector
Courier, Logistics
Founders
Abhishek Bansal, Vaibhav Khandelwal, Gaurav Jaithliya and Praharsh Chandra
Shadowfax is an on-demand hyperlocal delivery platform provider. It is committed to helping retailers concentrate on their main line of business by contracting out last-mile delivery work. Serving Indian clients, the business effectively accomplishes this through tracking orders, analyzing delivery data in depth, and gaining access to consumer insights. Customers can quickly track their orders by inputting the AWB number into an easily accessible tracking system at tracker.shadowfax.in.
Shadowfax – How it Works?
The company’s platform offers tech-enabled one-stop delivery services for e-commerce, restaurants, FMCG, pharmacy companies, and online and offline retailers, along with empowering businesses with cutting-edge technology in terms of logistics and access to a reliable delivery network to make fast and efficient delivery possible.
Within a short period, Shadowfax has become one of India’s largest last-mile delivery platforms with more than 1.5 lakhs transacting delivery partner networks. The last-mile logistics network that Shadowfax offers is tech-enabled and emerges as a one-stop delivery solution. The unique app of Shadowfax helps with the effortless delivery of food, grocery, pharmacy, and e-commerce products for businesses and individuals, thereby delighting the customers for real.
With its feature-rich technology and unmatched network, Shadowfax benefits the brands as well as the riders, making swifter deliveries possible.
Advantages for the Brands:
Shadowfax makes customized deliveries possible
With an in-demand rider network, Shadowfax promises to meet the fluctuating business requirements
Home delivery of products across multiple categories
Advantages for the Riders:
Shadowfax extends the flexibility of rides
With a single app that the riders need to handle, they can make the most of a day
Shadowfax boasts faster payouts and unlimited opportunities to earn for the riders
All can use the Shadowfax app after an easy Shadowfax login process that they need to complete, which can be done once they have created their own Shadowfax accounts.
The analysis from Mordor Intelligence indicates that there will be significant development in the courier, express, and parcel (CEP) sector in India. It is projected to grow from its valuation of $ 8.58 billion in 2024 to $15.93 billion by 2030 at a strong CAGR of 10.87%.
According to the report, this development can be attributed to the growing e-commerce sector, changing consumer preferences, and technological advancements. According to Mordor Intelligence, these elements will play a crucial role in determining how the Indian CEP market develops over the next few years and will boost the sector’s productivity and level of competition.
Shadowfax – Founders and Team
Shadowfax was initially founded by IIT-Delhi alumni Abhishek Bansal and Vaibhav Khandelwal in April 2015, after which they were joined by two more IIT Delhi alumni, Gaurav Jaithliya and Praharsh Chandra.
Abhishek Bansal (Co-Founder and CEO), Vaibhav Khandelwal (Co-Founder and CTO), Co-Founder of Shadowfax
Abhishek Bansal
Abhishek Bansal is the Co-Founder and CEO of Shadowfax. He graduated from IIT Delhi with a BTech in Production and Industrial Engineering. After working for Hay Group for around 2 years as a Business Analyst and an Associate Consultant, Bansal co-founded Shadowfax, where he still serves as the Co-Founder and CEO.
Vaibhav Khandelwal
Vaibhav Khandelwal is the Co-Founder and CTO of Shadowfax. He was also a student at IIT Delhi, where he completed his BTech in Electrical, Electronics, and Communication Engineering. Starting as a Research Intern at Adobe, Khandelwal served as a System Two Advisor, LP, at Research Analyst. However, he left the job within a year of joining and eventually decided to co-found Shadowfax with Bansal.
Gaurav Jaithliya (Co-Founder and Chief of Business Strategy), Praharsh Chandra (Co-Founder and Chief Business Officer), Co-Founder of Shadowfax
Gaurav Jaithliya
Gaurav Jaithliya is the Co-Founder and Chief of Business Strategy of Shadowfax. He was also a student of IIT Delhi, from where he completed his Dual Degree in Mathematics and Computing. GulfTalent was the first company that Gaurav joined, after which he joined Shadowfax as a Co-founder and the Chief of Business Strategy and he is still serving the role.
Praharsh Chandra
Praharsh Chandra is a Co-Founder and the Chief Business Officer at Shadowfax. Praharsh Chandra was a Mechanical Engineering student who completed his BTech degree from the IIT Delhi, much like the other co-founders, and then interned at HUL. After interning for around 3 months, Chandra joined A.T. Kearney. He worked with the company for around 2 years as a Business Analyst and a Senior Business Analyst, eventually leaving it and co-founding ShadowFax.
Shadowfax – Startup Story
Shadowfax when started out, its goal to transform meal delivery, and it attracted notice for its creative thinking. Seeing bigger opportunities, the founders went beyond food delivery to become a hyperlocal platform for express mail, electronics, furniture, pharmacy, groceries, and lifestyle delivery.
With this tactical change, Shadowfax entered a new and exciting phase as a prominent participant in the delivery services industry. By accommodating a range of consumer and commercial demands, the company established itself as a flexible solution provider for different delivery needs.
As a multi-vertical hyperlocal delivery behemoth, Shadowfax has grown from a specialized food delivery firm to a testimony to entrepreneurial vision. This voyage demonstrates its dedication to innovation and satisfying the changing needs of the market.
Shadowfax – Mission and Vision
The company’s mission on its website states, “Build the fastest and most reliable logistics network by empowering a million microentrepreneurs through technology to deliver anything, anywhere.”
The company’s vision on its website states, “Enabling commerce by empowering lives for everyone, everywhere.”
Shadowfax – Name, Tagline and Logo
Shadowfax Logo
Shadowfax is “Derived from the mythical creature of “Lord of the Rings”, Shadowfax is named after the “Lord of all horses”, who is an epitome of monumental speed and communication, much like our reliable and agile logistic offerings.”
Shadowfax operates an unusually built business-to-business logistics network in more than 2,500 cities in India as of now. The startup works with neighborhood stores to use their real estate to store inventory and has a large network of freelancers for delivery.
E-commerce contributes the most to Shadowfax’s business. Food and groceries are next, while reverse logistics account for the rest of them. Shadowfax also has a courier tracking system, which provides an online automatic tracking system to track shipments. Customers can track the current status of the parcel instead of visiting the courier location or calling the customer service center.
Shadowfax – ESOPs
Shadowfax rolled out an employee stock ownership plan (ESOP) buyback plan for its employees on December 8, 2020. The total value of the ESOP plan was estimated at around $5 million and was solely designed to reward its employees as the business recovered post the pandemic. As per the buyback plan, Shadowfax allowed the eligible employees, who have been granted the ESOP options and have completed more than 4 years with the company, to sell 35% of their assigned or vested ESOP shares.
Shadowfax – Challenges Faced
Shadowfax faced the challenges associated with the launch, including early operational obstacles that needed quick fixes. According to Abhishek Bansal, the business realized how important it was to operate across a variety of sectors with different peak hours. This tactical change was made in order to optimize efficiency and allow a single delivery person to service several groups at once.
Financially speaking, Shadowfax presented a significant issue in January 2016 with a startling minus 35% margin. But the group’s fortitude and wise choices produced a stunning comeback, and by the end of the year, they had a 4% lead. In spite of these financial difficulties, Shadowfax’s growth trajectory remained stable, as seen by its threefold rise in 2017.
Bansal noted that all platforms operating in the same-day delivery market depend on Shadowfax’s services, underscoring the latter’s critical role in the industry. The organization demonstrated its flexibility and resilience in managing the intricacies of the startup scene by taking on these difficulties head-on without focusing on the precise answers.
Shadowfax – Shareholders
Shadowfax shareholding as of February 2024 (source: Tracxn):
Some of the major growth milestones of Shadowfax are:
It has 30 lakh verified riders as of February 2024
The company has 1.5 lakhs monthly transacting delivery partners as of February 2024
It delivers 15 lakhs+ orders daily as of February 2024
It has a presence in over 2500 cities as of February 2024
It is delivering to 15,000+ pin codes as of February 2024
Shadowfax – Financials
Shadowfax Financials
FY24
FY23
FY22
FY21
Revenue
INR 1,896.5 crore
INR 1,422.9 crore
INR 997.4 crore
INR 487.6 crore
Expenses
INR 1,908.4 crore
INR 1,565.5 crore
INR 1,173.5 crore
INR 620.5 crore
Profit/Loss
INR -11.9 crore
INR -142.6 crore
INR -176.1 crore
INR 132.9 crore
Shadowfax Financials
Shadowfax witnessed strong revenue growth of 33.3% in FY24, reaching INR 1,896.5 crore, up from INR 1,422.9 crore in FY23. However, expenses also increased by 21.9%, rising from INR 1,565.5 crore in FY23 to INR 1,908.4 crore in FY24. Despite higher costs, the company significantly reduced its losses by 91.6%, narrowing from INR 142.6 crore in FY23 to INR 11.9 crore in FY24, indicating improved financial stability.
Shadowfax Revenue
Revenue Breakdown
FY24
FY23
Revenue from Operations
INR 1,884.8 crore
INR 1,415.1 crore
Other Income
INR 11.7 crore
INR 7.8 crore
Total Revenue
INR 1,896.5 crore
INR 1,422.9 crore
Revenue of Shadowfax increased by 33.3% from INR 1,422.9 crore in FY23 to INR 1,896.5 crore in FY24.
Shadowfax Expenses
Expense Breakdown
FY24
FY23
Employee Benefit Expense
INR 211.6 crore
INR 213.7 crore
Finance Cost
INR 7.2 crore
INR 12.9 crore
Amortization & Depreciation
INR 27.8 crore
INR 24.0 crore
Other Expenses
INR 1,661.9 crore
INR 1,314.9 crore
Total Expenses
INR 1,908.4 crore
INR 1,565.5 crore
Expenses of Shadowfax increased by 21.9% from INR 1,565.5 crore in FY23 to INR 1,908.4 crore in FY24.
Shadowfax Profit/Loss
Profit/Loss Breakdown
FY24
FY23
Profit/Loss before Tax
INR -11.9 crore
INR -142.6 crore
Profit/Loss for the Year
INR -11.9 crore
INR -142.6 crore
Shadowfax’s loss reduced significantly from INR 142.6 crore in FY23 to INR 11.9 crore in FY24.
Quick Financial Summary of Shadowfax
Revenue grew by 33.3% in FY24 compared to FY23, reaching INR 1,896.5 crore.
Loss reduced significantly from INR 142.6 crore in FY23 to INR 11.9 crore in FY24.
Major cost drivers include an increase in operational and other expenses.
Business implications: Improved revenue growth and reduced losses suggest stronger financial stability and operational efficiency.
Shadowfax – Funding and Investors
Shadowfax has raised a total of $234 million in funding over 12 rounds. Shadowfax raised $4 million in its Series F round, led by Mirae Asset and NGP Capital, closing at a $712 million valuation in February 2025.
Uber has partnered with logistics provider Shadowfax to enhance its bike taxi service, Uber Moto, in India. The collaboration adds over 2 lakh two-wheelers to Uber’s fleet, boosting service coverage and reliability for riders seeking quick, affordable commutes.
RapidShyp
RapidShyp, Om Logistics’ eCommerce shipping platform, has partnered with Shadowfax to offer express delivery to D2C brands across 15,000 pin codes in India, with plans for nationwide expansion.
Shadowfax – Acquisitions
Shadowfax has acquired two companies to date. The company acquired NuvoExon on October 31, 2017, a specialized logistics services provider that specializes in handling reverse flow issues in the Indian e-commerce industry. On November 9, 2015, Shadowfax further broadened its range of offerings when it acquired Pickingo, an on-demand B2B hyperlocal delivery service provider.
Ever since Shadowfax came into being, the company has grabbed awards and recognition every now and then. Here is a list of the prominent awards and recognitions garnered by Shadowfax:
The company has been declared the best Third logistics company at the India Retail, E-commerce, and D2C Summit 2023
The company has won Operational Excellence Awards by ONDC’s Elevate Awards 2023
The company was awarded the Silver award for Outstanding Performance in the COVID Focussed Community Support at the 4th CSR Health Impact Awards, 2020 COVID Edition
Shadowfax was declared the winner in the category of Innovation in Transport Tech at the 10th Aegis Graham Bell Awards, 2020
The company was recognized as the winner of Excellence in Innovation by ET at its Now Stars of the Industry Awards, 2019
Shadowfax was also conferred the title of winner of Disruptive Startup Logistics of the Year at the 9th Inflection Conference & Awards, 2019
Amazon awarded Shadowfax, the Excellence Super Star Award in 2019, as the winner of Best Emerging Service Partner
Shadowfax also boasts of being the winner in Providing last-mile delivery services at the Flipkart Last Mile Agency Award of 2019
Shadowfax was also recognised at the Mahindra Transport Excellence Awards, 2019, as the winner of Dream Chasers for Driving Positive Change
The company was also a part of Forbes 30 under 30, listed by Forbes in 2019
Shadowfax won Best use of Technology in Contact Center (Logistics) in the 2nd Annual CX Excellence Awards 2023
Shadowfax – Competitors
The top competitors in ShadowFax’s competitive set are:
Bansal stated that Shadowfax, which is now profitable, is aggressively looking for additional prospects. Within the next 24 months, the company hopes to list on the Indian stock exchanges, which would be a major accomplishment in its goal of expanding through strategic acquisitions.
Shadowfax plans to use the recently raised funding to grow its middle-mile network over the next 18 months. Their objective is to improve delivery services to include all 20,000 Indian pin codes. This growth strategy demonstrates Shadowfax’s resolve to become a major force in the logistics industry by demonstrating its dedication to providing effective logistics solutions over a larger region.
Logistics startup ShadowFax plans to raise INR 2,500–3,000 Cr through an IPO, aiming for a valuation of INR 5,000–8,000 Cr. Promoters and investors are in talks with merchant bankers to move the process forward.
FAQs
What is Shadowfax Technologies Ltd.?
Shadowfax is an Indian company that offers on-demand hyperlocal delivery with delivery analytics by analyzing delivery data, order tracking, as well as access to consumer insights.
Who is the CEO of Shadowfax?
Abhishek Bansal is the current CEO of Shadowfax.
Who founded Shadowfax?
Shadowfax was founded by Abhishek Bansal and Vaibhav Khandelwal and was joined in by Gaurav Jaithliya and Praharsh Chandra, in 2015.
When was Shadowfax founded?
Shadowfax was founded in 2015, by initially by Abhishek Bansal and Vaibhav Khandelwal, while Gaurav Jaithliya and Praharsh Chandra joined the list of the company’s co-founders in December 2020.
What is Shadowfax courier tracking and how is Shadowfax tracking done?
Shadowfax allows all the users to track their couriers during the time they are with Shadowfax with the help of its intelligent Shadowfax courier tracking facility. To use Shadowfax tracking, you simply need to visit tracker.shadowfax.in, and then enter your AWB Number and click/tap on Track Order to track your order.
Where is the Shadowfax office?
The Shadowfax office is in Bangalore, India.
How to proceed with Shadowfax login?
The Shadowfax login is an easy process in which you simply need to visit the Shadowfax website in order to log in. However, it is important to note that you should be having your Shadowfax account first, in order to begin with it.
How Shadowfax works?
Shadowfax is a logistics platform that connects businesses with delivery partners for last-mile, same-day, and on-demand deliveries. It uses technology to assign orders to riders, optimizing routes for speed and cost efficiency.
Uber and Shadowfax have partnered to combine UberMoto, the ride-hailing platform’s bike-taxi service, with Shadowfax’s two-wheeler fleet. During lean hours of work, two-wheeler riders servicing IPO-bound Shadowfax will have the option to switch to UberMoto and offer bike-taxi services.
Uber said in a statement that the collaboration will enable it to expand its operations in cities where Shadowfax is present and enhance its bike-taxi business with more two-wheelers.
Uber has some innovative new business model ideas in the works. As for Uber’s goals behind such agreements, Prabhjeet Singh, president of Uber India and South Asia, told the media that the business will have more to say on that in due course, but this is in the queue about actually becoming the operating system for many form factors.
With reference to UberMoto, Singh went on to say that the company wants to integrate third parties with current two-wheeler service providers in the logistics industry to quadruple its stock pool.
Replicating International Business Strategy in India
In New York, Uber launched a comparable third-party technology integration, integrating the city’s yellow taxis into its ride-sharing network.
This gives Shadowfax the opportunity to expand the range of products it offers to its two-wheeler driver partners. Shadowfax is preparing an INR 3,000 crore IPO.
Shadowfax is poised to become the most diversified third-party logistics provider in India as a result of this distinct integration, which will make Shadowfax the first app that offers all forms of earning opportunities, according to Praharsh Chandra, Shadowfax’s cofounder and chief business officer.
How This Will Work?
Uber said in a statement that users may be paired with Shadowfax drivers when they order an UberMoto through the app. Shadowfax drivers on the Shadowfax driver app will complete these journeys. The rider experience will remain unchanged from their typical Uber trip.
A media report states that the two businesses have a revenue-sharing agreement for rides that are scheduled on UberMoto and are driven by Shadowfax drivers.
Uber India’s Revenue for FY23 Surges by 54%
Uber announced that its operational revenue in India for the most recent fiscal year increased by 54% to INR 2,666 crore, driven primarily by a robust uptick in its ride-hailing business and ongoing expansion in its support and services division.
Uber Inc., based in San Francisco, reported a greater loss of INR 311 crore for the year that ended March 31, 2023, compared with INR 197 crore in the previous fiscal year. This was due to a substantial increase in staff expenses and advertising costs. Based on data from business intelligence platform Tofler, the company’s regulatory filings with the Registrar of Companies show that ride-hailing revenue in India climbed by 75% year over year to INR 678 crore in FY23.
