On-demand logistics startup Shadowfax is set to acquire business assets of Nuvo Ex, an ecommerce focused specialized logistics business, for an undisclosed amount. The deal is almost closed and the operational integration of both the businesses has already started.
Shadowfax is already the market leader in point to point delivery, servicing clients across food, grocery, ecommerce and pharma. This deal will help the merged business expand services to 75+ cities in India across multiple categories. The alliance will further optimize resources and bring in efficiencies of combined scale for both businesses.
Nuvo Ex currently facilitates over 30,000 transactions daily across its reverse logistics network in over 75 cities and its unique store delivery network comprising of 700+ local kirana stores (Paketts Network). The business serves over 40 clients including, Flipkart, Amazon, Snapdeal, Paytm, Myntra and Jabong. Nuvo Ex was founded by Navneet Singh & Milind Sharma in 2013.
The combined business will facilitate over 90,000 transactions daily with 7000+ delivery personnels and 400+ minivans making it the largest last mile enabler in India
Highlighting the significance of this deal, Navneet Singh, Co-founder and CEO, Nuvo Ex said “We have immense respect for the Shadowfax team as they have built a market leading service through the tough times that hyperlocal businesses have gone through. It’s a delight to be a part of the super cost efficient network that Shadowfax has built in a short period of time. With Nuvo Ex’s strength in reverse logistics and store delivery network, Shadowfax is well poised to grow to the next level in the overall logistics market”.
Abhishek Bansal, Co-founder and CEO, Shadowfax said “Nuvo Ex has been able to create a highly specialized and customer centric brand which promises superior service quality to its customers using some unique capabilities. The consolidated business helps in improving the customer density in urban cities while also expanding presence in Tier 1 and 2 cities using the operational expertise of the Nuvo Ex team. We are really excited by this partnership and hope that this integration would help us achieve our target of EBITA profitability in 2018, faster.”
“This acquisition represents the next chapter in Shadowfax’s journey to become the market leader in intra-city express logistics. Nuvo Ex brings geographical reach and a depth of logistical know-how. From the outset we could see the two companies shared a common commitment to outstanding customer service and exceptional on-the-ground execution and we are excited about what they can achieve together,” said Aditya Systla, Vice President at Eight Roads Ventures.
India’s first unique multi modal platform which integrates with bikes, minivans, trucks as well as airlines for overnight shipping. Shadowfax is India’s largest crowdsourced delivery platform with presence in 15 cities across India and 5000+ monthly active delivery personnel. Shadowfax’s unique app enables delivery of food, grocery, apparels, pharma and furniture and enables businesses create delight for their customers by making super express delivery accessible and cost effective.