Shadowfax, Hansel, ZipGo raise funding; PayU partners with Reliance Money


Raising funds at the right time and that too the right quantum, is an art form laced with good fortune. Too many startups have raised funds too late or too early. And knowing how to spend those funds is an advanced art form. Logistics startup Shadowfax, product operations startup and bus aggregator ZipGo are the ones that announced funding rounds on Wednesday, reflecting the health of the Indian startup ecosystem. Hope they go on to take the right decisions and go from strength to strength. Read on.  

Bengaluru-based logistics startup Shadowfax has raised $22 million in Series C funding from NGP Capital, Qualcomm Ventures, Mirae Asset, and existing investor Eight Roads Ventures. This brings the total funding of the startup to about $41 million.

Shadowfax Cofounders

Bengaluru-based, a product operations startup, has raised $4 million from Vertex Ventures and existing investors IDG Ventures India and Endiya Partners. The company aims to expand internationally and strengthen the team with the new funding.

Bengaluru-based online bus aggregator platform ZipGo has raised funding of Rs 300 crore led by Essel Green Mobility Ltd (EGM). With this round of funding, the team intends to venture into integrated transportation options of electric buses and e-rickshaws. 

The ZipGo Team 

In a bid to ramp up cashless transactions, the State Bank of India (SBI) on Wednesday launched a Multi Option Payment Acceptance Device (MOPAD). The device accepts UPI, Bharat QR, SBI Buddy (e-wallet) and card payments at PoS terminals. SBI has about 700,000 PoS machines deployed in the country, and MOPAD would be rolled out across every terminal in a phased manner.

Naspers-owned PayU India on Wednesday announced its partnership with NBFC Reliance Money, which is a part of Reliance Capital. The partnership will allow PayU to offer app-based personal loans via LazyPay, for the underserved consumers in India.

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