fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home Featured

Ecommerce Logistics Startup ElasticRun nets US$300 million funding led by SoftBank, valuation soars to US$1.4 billion

AsiaTechDaily Writer by AsiaTechDaily Writer
10 February 2022
in Featured, Transportation & Logistics
0
ElasticRun
63
SHARES
Share on FacebookShare on Twitter
Bookmark(0)

Please login to bookmark

No account yet? Register

India-based B2B and ecommerce logistics startup ElasticRun operated by Ntex Transportation Services Pvt. Ltd. has secured US$300 million in its Series E funding round led by Japan’s SoftBank Group. The financing round was also joined by Goldman Sachs and existing investor Prosus Ventures.

With the latest funding round, ElasticRun has attained a valuation of about US$1.4 billion and becomes the seventh Indian unicorn in 2022.  The company’s valuation has jumped over 3x as it was valued at US$400 million during its previous funding round in April 2021 when it had raised US$75 million from existing investors including Prosus Ventures, Avataar Ventures, and Kalaari Capital.

According to the company, SoftBank has invested through its affiliate SVF II Eagle LLC nearly US$180 million. It also marks SoftBank’s first Indian investment this year. SoftBank now owns 14 percent stake in the company. Prosus Ventures infused about US$54.79 million and Goldman Sachs invested US$30.14 million and US$4.64 million in this funding round.

ElasticRun plans to use the fresh funding for the expansion and growth of its operations.

About ElasticRun

Founded in 2016 by Sandeep Deshmukh, Shitiz Bansal, and Saurabh Nigam, ElasticRun provides a distribution and logistics platform designed to help businesses reach traditionally un-serviced consumers.

ElasticRun’s platform acts as an extended arm of FMCG companies’ direct distribution networks in the rural area to provide a set of net new customers to the FMCG companies. It has been helping ecommerce companies reach customers in far-flung areas through a network of rural kirana stores.

The startup’s platform brings financial institutions and banks closer to a new set of underserviced SME customers from its rural Kirana network. The company has been connecting the data generated from its platform to help its customers sharpen their marketing plans.

As per the company’s website, its clientele includes Tata Consumer Products, Coca-Cola, Reliance Retail, and Amazon.

What are your thoughts?
+1
0
Upvote
+1
0
Clap
+1
1
Clap
+1
0
On fire
+1
1
Meh
+1
0
Clap
+1
0
Tags: distribution and logistics.ecommerceFMCGIndian unicorn
Previous Post

Philippine-startup Peddlr secures $4.3m in Seed funding

Next Post

Virtual Events Platform Airmeet Raises US$35 million in funding from Prosus Ventures, Sequoia Capital

Related Posts

PAG
Featured

PAG, First Solar agree to landmark renewable energy deal in Japan

May 18, 2022
Sea Limited
Featured

Sea Limited posts 64.4% year-on-year revenue growth in Q1 2022

May 17, 2022
Blinq
Featured

Australia’s Blinq raises A$5m to build simple, shareable identities

May 17, 2022
Qoala
Featured

Indonesian insurtech startup Qoala raises $65m in Series B round

May 13, 2022
Chainalysis
Blockchain

Blockchain data platform Chainalysis bags $170m in GIC-led funding

May 13, 2022
Good Startup
Featured

Singapore VC Good Startup closes alt protein fund at $34m

May 12, 2022
Next Post
Airmeet

Virtual Events Platform Airmeet Raises US$35 million in funding from Prosus Ventures, Sequoia Capital

Discussion about this post

No Result
View All Result

FREE NEWSLETTER

Copyright © 2021 AsiaTechDaily.com| About Us | Seed acceleratorTerms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2021 AsiaTechDaily.com| About Us | Seed acceleratorTerms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo