Qualcomm Sells Shadowfax Shares Worth $22 Million

Qualcomm Ventures, an early investor in the logistics firm Shadowfax, has sold 7.5 million shares valued at approximately ₹183.85 crore (around $22 million) in a block deal executed on Friday, August 21.

The transaction, conducted through Qualcomm Asia Pacific Pte Limited, saw the shares offloaded at ₹245.13 apiece, a price 4% lower than Shadowfax's closing price on the same day. This divestment by Qualcomm follows similar large share sales by other significant investors, including TPG, Flipkart, and Eight Roads Ventures, in recent months.

Qualcomm Asia Pacific Pte Ltd previously held a 2.26% stake in Shadowfax. The venture capital arm first invested in the company in 2018. Shadowfax, founded in 2015, has been expanding its services beyond traditional e-commerce deliveries to include quick commerce, same-day shipping, and fulfillment infrastructure.

The logistics company currently operates across over 15,600 pin codes with a network of 260,000 delivery partners. Shadowfax plans to significantly expand its "dark store" network to support its growing quick commerce business.