The Souled Store Partners with Revenant E-sports to Launch New Collection
The Souled Store Partners with Revenant E-sports to Launch New Collection

The Souled Store is releasing an all-new range of merchandise in collaboration with a new-gen e-sports organization, Revenant Esports.

As part of the association, Revenant team athletes will be seen donning the new collection while they participate in mega esports events such as the Battle Ground India Series (BGIS), Call of Duty, and more. 

Meanwhile, fans can purchase the exclusive collection from The Souled Store website or from their retail stores across the city.

Harsh Lal, Co-Founder, The Souled Store, said, “We are excited to expand our e-sports apparel portfolio. With an ever-increasing customer base, this partnership with Revenant Esports allows us to connect with a community of incredibly loyal e-sports fans, who will also be able to support their favorite team with style.”

Rohit Jagasia, Founder, Revenant Esports, said, “We are delighted to be associated with The Souled Store. Through this partnership, we aim to empower all gamers to find their unique style, inside and outside of the gaming ecosystem. We hope to continue building our relationship with the brand for years to come.” 

As of today, Revenant Esports is one of the leading esports companies in the country with 30+ e-sports Tournament participants to their name, at an impressive win ratio of 82.1 percent.

The collection will consist of t-shirts, a mask, cap, jersey, and hoodie, for both men and women. The collection will be exclusively available on The Souled Store website from Tuesday, 28th December on pre-order.

 
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[Funding Alert] Shadowfax Bags $100 mn in Series E Funding Round to Expand Logistics Network
[Funding Alert] Shadowfax Bags $100 mn in Series E Funding Round to Expand Logistics Network
 

Shadowfax has concluded its Series E funding round, raising $100 million in investments, led by TPG NewQuest, with continued support from existing investors, such as Mirae Asset Venture Investments (India), Flipkart, International Finance Corporation, Nokia Growth Partners, Qualcomm, and Trifecta Capital. Additionally, Eight Roads Ventures, Shadowfax’s initial institutional investor since the Series A round in 2015, made a partial exit, reflecting the company's growth trajectory and ability to generate shareholder value. This financing round comprises a mix of primary, secondary, and venture debt funding, reinforcing Shadowfax's market position.

Over the next 18 months, Shadowfax will deploy the raised capital to bolster its middle-mile network and extend last-mile delivery services to encompass all 20,000 pin codes across India. A portion of the funds will be allocated to develop advanced services for Direct-to-Consumer (D2C) brands, leveraging state-of-the-art technologies to enhance Shadowfax’s express delivery capabilities. These expansion and innovation endeavors are pivotal in solidifying Shadowfax’s competitive advantage in the retail logistics sector.

Abhishek Bansal, CEO of Shadowfax said, "Our ability to capture a greater share of the market, even in a tough economic climate, is a testament to the core strength of our business. Now having another marquee investor on the board only adds to our confidence in what we're building."

Amit Gupta, Partner and Head of India and Southeast Asia, TPG NewQuest said, "Shadowfax is revolutionizing the e-commerce logistics sector in India. We have been impressed with the tech stack they have built. This helps with the delivery of superior service metrics and allows them to quickly adapt their services to client’s changing needs at the lowest price. We are excited to be partnering with them.

Shweta Bhatia, Partner and Head of Technology, Consumer and Financial Services Investments India, Eight Roads Ventures said, “Our partnership with Abhishek, Vaibhav, Praharsh and Gaurav spans nearly a decade and we at Eight Roads Ventures have been fortunate to witness Shadowfax’s scaleup journey right from the early days when 3PL for new-age commerce was beginning to take root. As the market evolves, we are excited for the company’s continued success as the preferred partner of choice for e-commerce and express logistics on the back of it’s industry-leading tech innovation and operational excellence.

Ashish Dave, CEO of Mirae Asset Venture Investments (India) said, "Shadowfax is our first investment in India and we have participated in each subsequent round which is a testament to the strong performance that the company has delivered over successive quarters for the last 5 years. We believe that logistics is fundamental to e-commerce and hyperlocal commerce and that it enables the growth of these markets. Abhishek and Vaibhav together with their team have built a highly scalable platform and have continued to deliver even during challenging periods. Throughout the last 5 years, they have invested in growing the network and the organization while also delivering on the right financial metrics. We are pleased to be a long-term partner of the company and to back the vision of the founders and management."

Shadowfax's transition to a full-stack parcel business model has resulted in consistent EBITDA profits, with three consecutive quarters of profitability in the current financial year (April to December 2023). As Shadowfax celebrates these milestones, it remains steadfast in its vision for the future, aiming to achieve its first full financial year of positive EBITDA in FY24, accounting for ESOP costs.

 

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