Veritas Legal represented Mirae Asset Venture Investments (India) in relation to its investment in Shadowfax Technologies
Logistics service provider Shadowfax raised its Series E funding round, wherein it raised USD 100 million in investments.
The latest round was spearheaded by TPG NewQuest, with contributions from existing investors such as Mirae Asset Venture Investments (India), Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm, and Trifecta Capital.
Shadowfax intends to utilise the raised funds to reinforce its middle-mile network and extend its last-mile delivery services to cover all 20,000 pincodes across India. Part of the raised funds will also be used to develop state-of-the-art services for direct-to-consumer (D2C) brands leveraging cutting-edge technologies and further enhance Shadowfax’s express delivery network.
Veritas Legal advised on the share acquisition; drafted Form I and obtained approval from CCI on behalf of the Mirae entities.
The deal was closed on 27th February 2024.
The team from Veritas Legal comprised of Manav Raheja (Partner); Zenia Cassinath (Principal Associate) and Vrinda Gundam (Associate).
Cyril Amarchand Mangaldas advised Shadowfax while AZB & Partners and Khaitan & Co represented the other investors that were participating in this funding round.