In April 2025, Shadowfax Technologies proudly celebrated its 10th anniversary—a monumental milestone for us as we are one of the top logistics companies in India. Founded by IIT Delhi alumni, Shadowfax has transformed from a fledgling startup into India’s leading provider of logistics services, excelling in same day, next day delivery, and reverse logistics. This blog traces Shadowfax’s remarkable journey, spotlighting its challenges, the people who fueled its growth, the evolution of its delivery services, and a year-by-year account of its rise among Indian logistics companies.

A Vision Born A Decade Ago

Shadowfax was founded in April 2015 by Abhishek Bansal and Vaibhav Khandelwal, who saw a gap in India’s logistics landscape. With the foodtech boom driven by platforms & restaurants needing efficient delivery services. Shadowfax stepped in with a tech-driven model for logistics services, offering crowdsourced express deliveries. The Shadowfax Partner App, a cornerstone of its early success, enabled real-time tracking and order broadcasting, positioning Shadowfax as a pioneer among Indian logistics companies.

Challenges Along the Way

Shadowfax’s path to becoming the best logistics company in India was fraught with challenges:

Complex Geography: India’s inconsistent addressing systems complicated express parcel deliveries. Shadowfax developed SF Maps, a geocoding engine, to ensure accuracy in same day delivery and next day delivery.
Scaling Operations: Expanding to 2,500+ cities required automation. Shadowfax invested crores to streamline multiple sort centers, enhancing logistics services.
Competition: There’re major rivals that have challenged the market share. Shadowfax’s focus on reverse logistics for e-commerce set it apart, securing a good amount of market share.
Pandemic Disruptions: COVID-19 tested resilience, but Shadowfax pivoted to express deliveries for essentials, achieving 2X growth.

These obstacles honed Shadowfax’s ability to innovate and deliver seamless and fast deliveries.

The People Behind the Growth

Shadowfax’s 150,000+ delivery partners are the backbone of its delivery services, ensuring express parcel and return parcels run smoothly. Stories of partners navigating urban chaos to deliver packages highlight their dedication. Leadership, including co-founders Praharsh Chandra and Gaurav Jaithliya (elevated in 2020), has driven strategic growth. Partnerships with investors like Flipkart and clients like Amazon have cemented Shadowfax’s reputation as the best logistics company in India for logistics services.

Year-by-Year Journey: 2015–2025

2015: The Foundation

Milestone: Launched in Bengaluru, focusing on hyperlocal delivery services.
Services: Last-mile logistics services for restaurants, introducing the Partner App for express deliveries.
Challenges: Building trust in a nascent gig economy.
Achievements: Secured seed funding, laying the foundation for a top logistics company in India.

2016: Early Expansion

Milestone: Expanded to e-commerce and grocery delivery services.
Services: Point-to-point express parcel delivery.
Challenges: Refining tech for same day delivery.
Achievements: Acquired Pickingo, enhancing delivery services.

2017: Strengthening the Core

Milestone: Reached 100 cities, scaling logistic services by instant deliveries.
Services: Introduced reverse logistics for e-commerce.
Challenges: Managing complexities of reverse parcels.
Achievements: Acquired NuvoEx, raised $10M in Series B.

2018: Tech Innovation

Milestone: Launched SF Maps for accurate express deliveries.
Services: Express same day delivery for top e-commerce brands.
Challenges: Balancing tech costs with operational efficiency.
Achievements: Partnered with Flipkart, raised $22M in Series C.

2019: Recognition and Growth

Milestone: Delivered 100 million orders a feat.
Services: Instant delivery services for quick commerce.
Challenges: Scaling partners while ensuring high quality logistics services.
Achievements: Won Flipkart’s Last Mile Award, Forbes 30 Under 30.

2020: Resilience Amid Crisis

Milestone: Achieved 2X growth during the pandemic.
Services: Fast delivery for pharmacy and essential items.
Challenges: Ensuring safety for express deliveries for each parcel.
Achievements: Raised $60M in Series D, launched ESOP buyback.

2021: Diversification

Milestone: Expanded to 700 cities, covering 7,000+ pin codes.
Services: Hand-to-hand exchange for high-value goods, enhancing return logistics.
Challenges: Rising fuel costs impacting logistics services.
Achievements: Partnered with Uber Moto, adding 200,000 two-wheelers.

2022: Financial Discipline

Milestone: Reduced losses by 19%, with revenue at Rs 1,423 crore.
Services: Flash by Shadowfax, a personal courier for express parcels deliveries.
Challenges: Economic slowdown affecting delivery services.
Achievements: Valued at $632M, raised $100M in Series E.

2023: Profitability Path

Milestone: Achieved EBITDA profitability for three quarters.
Services: Prime Delivery for same day delivery and next day delivery.
Challenges: Competition in quick commerce logistics services.
Achievements: Revenue hit Rs 1,885 crore, up 33% from FY23.

2024: Market Leadership

Milestone: Crossed 1 billion orders, holding 50% market share in key segments.
Services: 10 minute delivery for quick commerce.
Challenges: Scaling middle-mile logistics services.
Achievements: Recorded PAT of Rs 2 crore, invested Rs 200 crore in automation.

2025: Preparing for the Future

Milestone: Transitioned to a public company, eyeing an IPO, Shadowfax acquired CriticaLog and launched SF Shield.
Services: Expanded electric vehicle fleet for sustainable delivery services.
Challenges: Preparing for global competition among Indian logistics companies.
Achievements: Raised $16.8M in Series F, valued at $712M.

Evolution of Services

Shadowfax’s journey began with last-mile logistics for restaurants. Its portfolio evolved to include:

2016: Point-to-point express parcel delivery.
2017: Reverse logistics for e-commerce.
2018: Same day delivery, a game-changer for fast and reliable delivery services.
2019: Instant express deliveries for quick commerce.
2020: Pharmacy and essential logistics services.
2021: Hand-to-hand exchange for electronics, enhancing return logistics.
2022: Flash by Shadowfax, a personal courier for express parcels.
2023: Prime Delivery, offering same day delivery and next day delivery.
2024: 10-minute express deliveries, solidifying its quick commerce lead.
2025: Sustainable delivery services with electric vehicles.

This evolution showcases Shadowfax’s adaptability, making it a top logistics company in India.

Awards and Recognition

Shadowfax’s excellence in logistics services earned it:

2019: Flipkart Last Mile Agency Award, Amazon Excellence Super Star Award.
2020: Aegis Graham Bell Award for Transport Tech Innovation.
2021: ET Now Stars of the Industry Award.
2022: Recognized as a Great Place to Work in 2022
2023: Winner of the Best Third Party Logistics Award on Indian Retail E-Commerce & D2C.
2024: Entrepreneur India Idea Award for SCM and Logistics.

These accolades affirm Shadowfax’s status as the best logistics company in India.

Financial Growth

From seed funding to a $712M valuation, Shadowfax’s financial ascent is notable:

Total Funding: $234M from Flipkart, TPG, and others.
Revenue: Reached Rs 2,400 crore annualized run rate in FY24.
Profitability: Achieved PAT of Rs 2 crore and EBITDA profit of Rs 11.4 crore in FY24.

Sustainability and Social Impact

Shadowfax has empowered over 150,000+ delivery partners through its gig economy model, offering flexible, rewarding job opportunities with comprehensive training and career growth potential. By providing small and medium enterprises (SMEs) with competitive, hyperlocal logistics solutions, Shadowfax enhances market reach and strengthens India’s economic foundation. During the COVID-19 pandemic, Shadowfax’s efforts in distributing essentials and supporting communities earned it the Silver Award in the COVID-Focused Community Support Category, reflecting its commitment to delivering smiles and fostering a fairer, inclusive marketplace.

Conclusion: A Decade of Impact, A Future of Possibilities

Shadowfax’s 10th anniversary marks a decade of redefining logistics services in India. From pioneering same-day delivery and reverse logistics to leading in express deliveries, Shadowfax has solidified its position among India’s top logistics companies. The company’s journey reflects resilience, speed, agility, innovation, and an unwavering commitment to delivering smiles. In 2023–2024, Shadowfax achieved remarkable financial success, recording both EBITDA and PAT profitability, underscoring its robust business model and operational excellence. Powered by innovations like SF Shield—a comprehensive shipment protection offering—and tech-driven track & trace capabilities, Shadowfax continues to enhance customer confidence and transparency, reinforcing its leadership in reliable and secure logistics.

Recognized with prestigious awards for its lightning-fast intracity delivery services, Shadowfax continues to set industry benchmarks. Its strong, trust-based relationships with clients—ranging from small businesses to large enterprises—have been pivotal to its success. By fostering sustainable logistics practices, Shadowfax aligns with global environmental goals while empowering delivery partners through its inclusive gig economy model.

As Shadowfax prepares for global expansion, it remains dedicated to sustainable growth and community empowerment. To its partners, employees, and clients, Shadowfax extends heartfelt gratitude for a decade of trust and collaboration. Celebrating 10 years of leading as India’s best logistics company and making a global impact!