Shadowfax Appoints New Independent Directors to Strengthen Governance

Shadowfax, a provider of express parcel delivery and value-added solutions for e-commerce, has announced the appointment of three notable professionals—Bijou Kurien, Ruchira Shukla, and Pirojshaw Sarkari—as independent directors on its board. This strategic decision highlights the company’s dedication to improving governance, utilising domain expertise, and enhancing operational performance.

Profiles of the New Directors

Bijou Kurien

Bijou Kurien comes with over 35 years of extensive experience in the FMCG, consumer durables, and retail sectors. As a founding member of Titan Industries and Reliance Retail, he significantly contributed to building and expanding multibillion-dollar enterprises. Currently, he provides advisory services to private equity funds and startups while holding positions on several corporate boards, both public and private.

Ruchira Shukla

Ruchira Shukla, co-founder and managing partner of Synapses— a venture capital fund that focuses on STEM-led investments in climate technology and health technology—has amassed more than 25 years of diverse experience in venture capital, private equity, strategic consulting, and investment banking throughout India, the US, and Europe. In her previous role at the International Finance Corporation (IFC), she directed investments in disruptive technologies across South Asia.

Pirojshaw Sarkari

Pirojshaw Sarkari, a qualified chartered accountant, is an experienced leader in logistics and supply chain management. He played a crucial role in setting up UPS in India and subsequently became the CEO of Mahindra Logistics, steering it toward becoming one of India’s leading 3PL companies and successfully leading its IPO. Furthermore, he has served as CEO of Gati Allcargo.

Shadowfax indicates that these independent directors will strengthen its governance framework, emphasising its commitment to operational excellence and innovation. This will ensure the company stays at the forefront of the evolving e-commerce and direct-to-consumer landscape in India.

Recent Funding and Growth

The Bengaluru-based organisation recently raised Rs 34.2 crore (approximately $4 million) as part of a larger Series F funding round. The company reported a 33.2% year-on-year increase in revenue, reaching Rs 1,415 crore during the fiscal year ending March 2024.

Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, Shadowfax serves a wide array of customers with industry-leading Turnaround Time (TAT) at competitive pricing. It boasts an innovative crowdsourcing network that includes 125,000 monthly active delivery partners and 3.5 million registered users.