Shadowfax acquires logistics firm CriticaLog

Third-party logistics player Shadowfax has acquired CriticaLog, a premium logistics firm, for an undisclosed amount, a statement from the company said.

"We are thrilled to welcome the exceptional team at CriticaLog into the Shadowfax family. Their expertise in managing high-value product movements with an industry-leading 0% loss rate is unparalleled," noted Abhishek Bansal, CEO and Co-founder of Shadowfax.

CriticaLog offers critical logistics solutions for Fortune 500 companies, proficient in handling complex and critical logistics challenges.

"By leveraging their expansive reach and advanced technology capabilities, we can bring Criticalog's premium logistics solutions to a wider customer base. This partnership will enable us to not only strengthen our existing relationships but also introduce our critical logistics services to a new and growing audience," noted Sujoy Guha, CEO of CriticaLog on the rationale behind merger.

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Founded in 2013 by industry veterans Sujoy Guha and Samir Panda, CriticaLog works with over 400 organisations transporting products such as electronics, automobile spare parts, jewellery, and pharmaceuticals.

Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, Shadowfax is looking at Rs 3,000 crore IPO later this year, as per media reports.

Shadowfax, which competes with listed players like Delhivery and startups like Ecom Express and Shiprocket among others, turned profitable at adjusted PAT metrics in FY24.

The Bengaluru-based firm clocked a 33% revenue growth to Rs 1,884.8 crore in FY24 from Rs 1,415.1 crore in FY23. Its EBITDA turned around from a Rs 113.5 crore in loss in FY24 to Rs 11.4 crore profit, while adjusted PAT improved from a Rs 123.8 crore loss to Rs 2 crore profit.