Home
Loading

aVenture is in Alpha: During this preview period, you should expect the research data to be limited and may not yet meet our exacting standards. We've made the decision to provide early access to our data to showcase the product as we build, but you should not yet rely upon it alone for your investment decisions.

aVenture is in Alpha: During this preview period, you should expect the research data to be limited and may not yet meet our exacting standards. We've made the decision to provide early access to our data to showcase the product as we build, but you should not yet rely upon it alone for your investment decisions.

Get in touch

  • Contact

  • Request a demo

  • Request data updates

  • Add a company

Research

  • Companies

  • Investors

  • People

aVenture

  • Sitemap

  • Feature requests

Member

Backed by

© aVenture Investment Company, 2026. All rights reserved.

San Francisco, CA, USA

Privacy Policy

aVenture Investment Company ("aVenture") is an independent research platform providing detailed analysis and data on startups, venture capital investments, and key industry individuals. It is not a registered investment adviser, broker-dealer, or investment advisor and does not provide investment advice or recommendations. The data provided by aVenture does not constitute recommendations or advice, whether by methodology, analysis, AI-generated content, or a statement written by a staff member of aVenture.

aVenture is not affiliated with any of the people, companies, organizations, government agencies, regulatory bodies, or investment funds we provide coverage for on this site unless explicitly stated otherwise. Users assume full responsibility for decisions made based on information obtained from this platform. Links to external websites do not imply endorsement or affiliation with aVenture. Any links that provide the ability to invest in a primary or secondary transaction in a company are for convenience only and do not constitute solicitations or offers to buy or sell an investment. Investors should exercise heightened precaution and due diligence when investing in private companies, especially those not independently audited.

While we strive to provide valuable insights with objectivity and professional diligence, we cannot guarantee the accuracy of the information provided on our platform. Before making any investment decisions, you should verify the accuracy of all pertinent details for your decision. To the fullest extent permitted by law, aVenture shall not be liable for any direct, indirect, incidental, consequential, or financial damages arising from use of this site, whether by consumers of its contents directly or by persons or organizations covered by our research, even if we are advised of the possibility. Our best-efforts processes and correction request forms do not create a warranty or duty of care.

Profiles on this platform may include content generated in part by large language models (LLMs, artificial intelligence) that aggregate publicly available sources (e.g., SEC EDGAR, public filings, press releases). Source attribution is provided where known; always verify statements and claims here against original sources before relying on any data. Content on our site may contain inaccuracies, omissions, or what are commonly called 'hallucinations' if generated in part or in full by AI / LLMs. The risk can also exist even when content is written by a human, as internal and third-party sources may also have inaccuracies for the same or different reasons. While we randomly audit a proportion of content, this is not exhaustive.

We recommend that an independent auditor be hired to verify the accuracy of the information before relying on it for any sensitive decisions. By accessing this platform, you agree not to rely solely on any information generated by AI, aggregated, or sourced or written otherwise on this site, for investment, financial, or other decisions. aVenture assumes no responsibility for inaccuracies, omissions, or hallucinations. You must independently verify all data from primary sources. Use of this platform constitutes your waiver of claims for reliance-based damages, including negligent misrepresentation. To report an error, request a correction, or dispute information about a company or individual, contact us via our request data updates form.

Loading
Loading
Home
News
Flipkart-backed Shadowfax nears $60M funding led by TPG NewQuest

From TechCrunch

By Manish Singh

August 2, 2023

Flipkart-backed Shadowfax nears $60M funding led by TPG NewQuest

Indian logistics startup Shadowfax is finalizing a funding round of about $60 million, more than a year after it began the funding deliberations, two sources familiar with the matter said.

TPG NewQuest is positioning to lead the round, which also includes some secondary transactions, the sources said, requesting anonymity as the deliberations are private. The Bengaluru-headquartered startup, which counts Flipkart among its backers, earlier engaged with A91 Partners for the funding but the talks didn’t materialize over valuation mismatch, the sources said. Indian daily Economic Times earlier reported about the A91 Partners talks.

A deal with NewQuest could close as soon as this month, the sources said. Shadowfax didn’t respond to a request for comment Tuesday.

The startup, one of the largest logistics service providers to hyper-local, on-demand delivery businesses, has significantly pared its reliance on its largest customer, Meesho, in recent months and has been profitable for at least the past three months, the sources said. Its over-reliance on Meesho was a source of concern among many of its investors, people familiar with the matter said.

Shadowfax counts Myntra, Zomato-owned Blinkit, Decathlon, Flipkart, BigBasket and Practo among its customers. The startup’s losistics network reaches over 15,000 zip codes across India, and it works with over 3 million delivery personnel and processes 1.5 million orders a day, according to its website.

TPG NewQuest declined to comment. Shadowfax has raised about $121 million over the years.

Most Recent

Travis Kalanick’s robotics company raises $1.7B, led by a16z

Travis Kalanick’s robotics company raises $1.7B, led by a16z

Uber is also investing in Travis Kalanick's company Atoms, which has made gauzy claims about using industrial AI to modernize the world.

Jul 22, 2026

Arcee, a US open source AI lab, says Chinese models are not inherently dangerous

Arcee, a US open source AI lab, says Chinese models are not inherently dangerous

As Chinese AI models grow in capability and popularity among U.S. companies, the arguing over what should be done about them has reached a fever pitch.

Jul 22, 2026

Cascade raises $3.5M to help construction firms find and win projects

Cascade raises $3.5M to help construction firms find and win projects

a16z Speedrun, Ada Ventures, and Snowball VC have invested in Cascade's $3.5 million seed round.

Jul 22, 2026

The browser wars aren’t about search anymore — here are the best alternatives to Chrome and Safari

The browser wars aren’t about search anymore — here are the best alternatives to Chrome and Safari

We’ve compiled an overview of some of the top alternative browsers available today aiming to challenge Chrome and Safari.

Jul 22, 2026

Similar Posts

Flipkart-backed Shadowfax nears $60 million funding led by TPG NewQuest

Flipkart-backed Shadowfax nears $60 million funding led by TPG NewQuest

Indian logistics startup Shadowfax is finalizing a funding round of about $60 million, more than a year after it began the funding deliberations, two sources familiar with the matter said. TPG’s NewQuest is positioning to lead the round, which also includes some secondary transactions, the sources said, requesting anonymity as the deliberations are private. The […]

Aug 1, 2023

Amazon-backed Acko nears $120 million in new funding

Amazon-backed Acko nears $120 million in new funding

Indian insurtech Acko is in late-stage discussions to secure $120 million in a funding round at a time when weak global market conditions have subdued large financing deliberations in the South Asian market. General Atlantic is in talks to lead a $120 million round into Acko, the first tranche of which is about $100 million, […]

Mar 28, 2023

Reliance-backed Dunzo nears fresh funding of $50 million

Reliance-backed Dunzo nears fresh funding of $50 million

The Indian hyperlocal delivery startup Dunzo is in late-stage discussions to secure about $50 million in a new financing round, two sources familiar with the matter told TechCrunch, as the Bengaluru-headquartered startup scrambles for comfort in an otherwise funding winter for younger firms. Reliance Retail and Google, two existing backers of Dunzo, are among those […]

Mar 30, 2023

India’s Captain Fresh in talks to raise $50 million in new funding

India’s Captain Fresh in talks to raise $50 million in new funding

Captain Fresh, a business-to-business harvest-to-retail marketplace for animal protein, is engaging with investors to raise up to $50 million in fresh funding, according to sources familiar with the matter. The startup is in advanced stages of deliberations to raise the capital from Nekkanti Sea Foods, SBI Investment, Evolvence, Tiger Global, and Prosus Ventures, the sources […]

Jan 21, 2024

Most Recent

Travis Kalanick’s robotics company raises $1.7B, led by a16z

Travis Kalanick’s robotics company raises $1.7B, led by a16z

Uber is also investing in Travis Kalanick's company Atoms, which has made gauzy claims about using industrial AI to modernize the world.

Jul 22, 2026

Arcee, a US open source AI lab, says Chinese models are not inherently dangerous

Arcee, a US open source AI lab, says Chinese models are not inherently dangerous

As Chinese AI models grow in capability and popularity among U.S. companies, the arguing over what should be done about them has reached a fever pitch.

Jul 22, 2026

Cascade raises $3.5M to help construction firms find and win projects

Cascade raises $3.5M to help construction firms find and win projects

a16z Speedrun, Ada Ventures, and Snowball VC have invested in Cascade's $3.5 million seed round.

Jul 22, 2026

The browser wars aren’t about search anymore — here are the best alternatives to Chrome and Safari

The browser wars aren’t about search anymore — here are the best alternatives to Chrome and Safari

We’ve compiled an overview of some of the top alternative browsers available today aiming to challenge Chrome and Safari.

Jul 22, 2026

Similar Posts

Flipkart-backed Shadowfax nears $60 million funding led by TPG NewQuest

Flipkart-backed Shadowfax nears $60 million funding led by TPG NewQuest

Indian logistics startup Shadowfax is finalizing a funding round of about $60 million, more than a year after it began the funding deliberations, two sources familiar with the matter said. TPG’s NewQuest is positioning to lead the round, which also includes some secondary transactions, the sources said, requesting anonymity as the deliberations are private. The […]

Aug 1, 2023

Amazon-backed Acko nears $120 million in new funding

Amazon-backed Acko nears $120 million in new funding

Indian insurtech Acko is in late-stage discussions to secure $120 million in a funding round at a time when weak global market conditions have subdued large financing deliberations in the South Asian market. General Atlantic is in talks to lead a $120 million round into Acko, the first tranche of which is about $100 million, […]

Mar 28, 2023

Reliance-backed Dunzo nears fresh funding of $50 million

Reliance-backed Dunzo nears fresh funding of $50 million

The Indian hyperlocal delivery startup Dunzo is in late-stage discussions to secure about $50 million in a new financing round, two sources familiar with the matter told TechCrunch, as the Bengaluru-headquartered startup scrambles for comfort in an otherwise funding winter for younger firms. Reliance Retail and Google, two existing backers of Dunzo, are among those […]

Mar 30, 2023

India’s Captain Fresh in talks to raise $50 million in new funding

India’s Captain Fresh in talks to raise $50 million in new funding

Captain Fresh, a business-to-business harvest-to-retail marketplace for animal protein, is engaging with investors to raise up to $50 million in fresh funding, according to sources familiar with the matter. The startup is in advanced stages of deliberations to raise the capital from Nekkanti Sea Foods, SBI Investment, Evolvence, Tiger Global, and Prosus Ventures, the sources […]

Jan 21, 2024