Total amount raised
$434.8 Millions
Latest funding date
2/1/2022
Location
ElasticRun has successfully raised significant funding over multiple rounds, attracting notable investors such as Goldman Sachs and SoftBank Vision Fund. The company provides a logistics and distribution platform that extends the reach of FMCG companies and eCommerce businesses to rural consumers.
Keep reading to explore the intricacies of ElasticRun's fundraising journey and the investors backing this innovative platform.
What Is ElasticRun?
ElasticRun, founded in 2016, is headquartered in Pune, Maharashtra, India. The company was established by Sandeep Deshmukh, Saurabh Nigam, and Shitiz Bansal.
ElasticRun operates a logistics and distribution platform that extends the reach of FMCG companies and eCommerce businesses to rural consumers. It leverages a network of rural Kirana stores to facilitate this distribution.
With a workforce of 1001-5000 employees, ElasticRun continues to innovate in the logistics and eCommerce sectors, connecting businesses with traditionally underserved markets.
How Much Funding Has ElasticRun Raised?
- Seed Round
- Amount Raised: $2M
- Date: November 2016
- Lead Investors: Kalaari Capital, Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial platform.
- Series A
- Amount Raised: $7M
- Date: April 2017
- Lead Investors: Kalaari Capital, Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform's capabilities.
- Series B
- Amount Raised: ₹600M
- Date: October 2018
- Lead Investors: Kalaari Capital, Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance distribution networks and increase market reach.
- Series C
- Amount Raised: $40M
- Date: October 2019
- Lead Investors: Avataar Venture Partners, Prosus Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further penetrate rural markets and improve logistics infrastructure.
- Series D
- Amount Raised: $75M
- Date: April 2021
- Lead Investors: Avataar Venture Partners, Prosus Ventures
- Valuation at Round: $400M
- Motivation Behind the Round: To accelerate growth and expand service offerings.
- Series E
- Amount Raised: ₹22.6B
- Date: February 2022
- Lead Investors: Goldman Sachs, SoftBank Vision Fund
- Valuation at Round: $1.44B
- Motivation Behind the Round: To scale operations and enhance technological capabilities.
Total Amount Raised: $426M
Current Valuation: $1.44B
Key Investors
- Goldman Sachs
- Details: Goldman Sachs is a leading global investment banking, securities, and investment management firm. It provides a wide range of financial services to a substantial and diversified client base.
- Investment Focus Areas: Investment banking, securities, investment management, financial services.
- Notable Investments: Uber, Facebook, Spotify.
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a venture capital fund that invests in technology companies. It is known for its large-scale investments in high-growth tech sectors.
- Investment Focus Areas: Technology companies, AI, robotics, telecommunications.
- Notable Investments: Uber, WeWork, ByteDance.
- Prosus Ventures
- Details: Prosus Ventures is a global consumer internet group and one of the largest technology investors in the world. It focuses on building leading companies in markets with long-term growth potential.
- Investment Focus Areas: Consumer internet, online classifieds, food delivery, payments, fintech.
- Notable Investments: Tencent, Delivery Hero, Swiggy.
- Kalaari Capital
- Details: Kalaari Capital is an early-stage venture capital firm based in India. It focuses on technology-oriented companies in India.
- Investment Focus Areas: Technology, e-commerce, healthcare.
- Notable Investments: Dream11, CureFit, Myntra.
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global, multi-stage investment firm that manages more than $9.5 billion in capital. It invests in early to late-stage companies across a wide range of sectors.
- Investment Focus Areas: Technology, healthcare, financial services, consumer products.
- Notable Investments: Spotify, Uber, BlueJeans.
What's Next for ElasticRun?
ElasticRun stands at the cusp of significant growth opportunities, driven by its extensive network of over 100 brands and operations in more than 500 locations across 28 states. The potential to further expand its distribution reach for FMCG companies is immense, especially in underserved rural markets.
With a recent $300 million Series E round led by SoftBank Vision Fund 2, ElasticRun's valuation has surged to $1.44 billion. This financial boost positions the company well for future fundraising opportunities, potentially attracting more substantial investments to scale operations and enhance technological capabilities.
However, challenges such as managing rapid growth, maintaining service levels, and facing competition from other startups and established companies in the commerce and distribution sectors could pose hurdles. Navigating these challenges will be crucial for ElasticRun's continued success and market dominance.
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