India, March 7 -- IPO-bound logistics major Shadowfax has secured a funding of INR 65.4 Cr (about $7.5 Mn) from its cofounders Vaibhav Khandelwal and Abhishek Bansal.

Sources told Inc42 that the startup raised the capital at a post-money valuation of $750 Mn (about INR 6518.51 Cr). The funding is part of a larger funding round of about $50 Mn that Shadowfax is raising.

Of the total INR 65.4 Cr funding, Bansal infused INR 37.3 Cr while Khandelwal invested INR 28.1 Cr.

The startup's board on March 4 approved a resolution to allot 21,358 Series Y1, Y2, and Y3 compulsorily convertible preference shares (CCPS) to the cofounders at an issue price of INR 30,638 per CCPS to raise the sum, its filing with the Registrar of Companies (RoC) showed...