Walmart-owned Flipkart has led a $60 million (about Rs 429 crore) investment round in logistics startup Shadowfax, as India’s largest online retailer looks to enable faster 2-hour delivery using a hyperlocal network and launch newer on-demand categories. The companies did not disclose the transaction value, but the investment is believed to have valued Shadowfax at about $200-$250 million, and is also likely to see other new investors join in.

(ET Tech)