Shadowfax is an online logistics and delivery platform for e-commerce businesses that announced a 33.2 percent increase in operational revenue to Rs 1884.8 crore in FY24. The startup provides on-demand delivery. The application offers features like scheduled, next-day deliveries and forwarding services for e-commerce and fashion apparel. These logistics and delivery services are the company’s major source of revenue. The startup also offers live tracking and intercity delivery services.
The firm also earns income through non-operating services. These services earned Rs 11.6 crore bringing the net operating revenue to Rs 1896 crore in FY24. Shadowfax has secured over 231 million USD across multiple funding rounds since its inception, including $50 million raised during its series E funding round from TPG, Mirae Asset Venture Investments. and others. The firm also received an investment of $60 million from Newquest during its Series D funding round in 2023. This e-commerce company offers several services including live tracking and third-party logistics services.
Shadowfax allows users to buy multi-category products and track the delivery. The online platform uses advanced technologies to provide a seamless user experience. This e-commerce startup provides users with various logistics solutions. The transportation and delivery services expenses accounted for 50.63 percent of the total costs. These expenses grew by 24.7 percent to Rs 966.2 crore in FY24. The shipment expenses increased by 39.7 percent and stood at Rs 94.6 percent in the same duration.
The firm’s total expenditure increased by 21.9 percent to Rs 1908.3 crore in FY24. The startup reported a 91.7 percent decrease in its losses of Rs 11.8 crore in the same duration. Meanwhile, the employee benefits decreased to Rs 211.5 crore for this fiscal year. This cost accounted for 11.08 percent of the total costs. The company plans to launch its initial public offering and join companies like Delhivery.
The Bengaluru-based startup offers its logistic and delivery services across 2,500 cities and over 18,000 pin codes in India. The company intends to control its losses by reducing operating expenses and employee benefits. The employee benefits account for 11.08 percent of the total expenditure for this financial year. The EBITDA margin improved and stood at 1.21 percent while the ROCE was around -1.06 percent. Shadowfax faces competition from other delivery solutions offering e-commerce platforms such as Ripplr, Clickpost, and Shipzip.
Conclusion :
The B2C e-commerce startup Shadowfax announced a 33.2 percent increase in its operational revenue to Rs 1884.8 crore in FY24. This e-commerce startup offers delivery and logistic solutions with multi-category products and features like the live-tracking of delivery. These logistics and delivery services are the firm’s primary sources of revenue.
The company saw a 91.7 percent slip in its losses to Rs 11.8 crore in FY24. The total expenditure of the firm increased by 21.9 percent and crossed Rs 1908 crore in the same duration. The startup plans to minimize its operating and employee expenses. The company has secured over 231 million USD across multiple funding rounds.
Niraj Kumar is the Founder and CEO of Scoopearth, bringing over 13 years of experience across diverse domains, including journalism, content marketing, digital marketing, startup mentoring, and business coaching. His extensive background and leadership have made a significant impact in these areas, helping startups grow and succeed in a competitive landscape.
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