According to foreign media reports, India B2B logistics platform Shadowfax is negotiating with Jingdong to raise C round financing transactions. According to people familiar with the matter, the negotiations between the company and Jingdong group are at an early stage and have lasted for five weeks. The scale of the current round of financing may be 1800-2500 US dollars.
Founded in 2015, Shadowfax was founded jointly by Abhishek Bansal and Vaibhav Khandelwal, two alumni of Indian Institutet of Technology Delhi. From the initial supply of a single food takeout service, it has expanded to a diversified and cross vertical logistics service. Its main customers include community merchants, department stores, community drugstores and e-commerce. Last year, the company announced the acquisition of B2B reverse logistics (return and other) platform Nuvo Ex, after the acquisition of the company's logistics services to 75 cities in India, with more than 7000 distribution personnel, more than 80 thousand transactions per day.
As of March 2017, Shadowfax's total annual revenue was 3 billion 407 million rupees, an increase of 3 times more than 980 million rupees last year. The main business revenue reached 3 billion 173 million rupees, compared with the same period last year, an increase of nearly 927 million rupees. The total expenditure in fiscal year 17 increased by nearly 62% to 6 billion 258 million rupees, a net loss of 2 billion 851 million rupees, slightly higher than last year's 2 billion 557 million rupees. This is mainly due to the higher cost of delivery, transportation and cluster management. Employee benefits expenses also increased three times to 1 billion 888 million rupees from last year's 534 million rupees, mainly due to the introduction of ESOP.
So far, the company has raised $18 million 880 thousand from Eight Road Ventures, InnoVen Capital, Toppr (India online education platform) founder Zishaan Hayath and Snapdeal (India ecommerce platform) co founder Kunal Bahl, etc., according to data research.
In fact, JingDong's main competito
Tencent investment in India, including the following 5 enterprises:
India is considered the world's fastest-growing consumer market and will have the youngest population in the next few years. In view of its increasingly perfect Internet infrastructure, the future development space is huge. Deep Kalra, chief executive of MakeMyTrip Group, India's largest online travel operator, said: