Shadowfax (IFC-41235)

Countries
  • India
Where the impacts of the investment may be experienced.
Specific Location
Bangalore and other 80 cities in India
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Borrower
SHADOWFAX TECHNOLOGIES PRIVATE LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Industry and Trade
  • Infrastructure
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
Not Disclosed
When disclosed, the bank did not provide this value. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 17, 2019

Disclosed by Bank Sep 17, 2018


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Project Description

According to IFC, "Shadowfax is an Indian technology based last-mile express logistics company serving clients across food, grocery, pharmacy and ecommerce. It is headquartered in Bangalore, India with regional offices in Delhi, Mumbai and Hyderabad. IFC funds are expected to be deployed for expansion to new cities and customers, sales and marketing, and to build new products and rolls out more API integrations with new/existing clients."

Investment Description
  • International Finance Corporation (IFC)

*No investment information provided at the time of disclosure. 

Private Actors

According to IFC, the company was founded by Abhishek Bansal (currently serves as CEO, ex-Hay Group) and Vaibhav Khandelwal (currently serves as CTO, ex- System Two Advisors). Existing investors include Eight Roads Ventures, NGP Capital, Qualcomm Ventures and Mirae Asset Management. 

Contact Information

Shadowfax Technologies Private Limited
Siddharth Jain
CEO’s office
+91-95821 48040
siddarth.jain@shadowfax.in
No. 135, 4th Floor, 1st Cross Rd, 5th Block, Koramangala, Bengaluru, Karnataka 560095, India
https://shadowfax.in/ 


ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/