Shadowfax Technologies, supported by Flipkart, prepared for an IPO aiming to raise Rs2,500-3,000 crore, seeking a valuation of Rs5,000-8,000 crore. In February, it raised $50 million in a Series E round. For FY23, it reported revenues of Rs1,415 crore and reduced its losses to Rs143 crore, competing with Delhivery and Ecom Express.
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