Shadowfax raises $100 million in TPG-led funding round

Shadowfax has raised $100 million in a funding round led by TPG to extend last mile connectivity services. Besides TPG, existing investors, including Walmart -owned e-commerce platform Flipkart, Mirae Asset, and International Finance Corporation (IFC) also participated in the funding round. Eight Roads Ventures, an early investor has sold a few of its stakes from the business.