Total amount raised
$434.8 Million
Latest funding date
2/1/2022
Location
ElasticRun has successfully raised funding over six rounds, with the latest being a Series E round. The platform operates as a logistics and distribution network, helping businesses reach traditionally unserviced consumers.
Among its notable investors are Goldman Sachs and SoftBank Vision Fund. Keep reading to explore the intricacies of ElasticRun's fundraising journey and the investors backing this innovative platform.
What Is ElasticRun?
ElasticRun is a logistics and distribution platform that helps businesses reach traditionally unserviced consumers. The company operates in the e-commerce, e-commerce platforms, and logistics industries.
Founded in Pune, Maharashtra, India, ElasticRun has a significant employee base ranging from 1001 to 5000 employees. The company has successfully raised funding through multiple rounds, with the latest being a Series E round.
How Much Funding Has ElasticRun Raised?
- Seed Round
- Amount Raised: USD 2,000,000
- Date: November 2016
- Lead Investors: Kalaari Capital, Norwest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial operations and develop the logistics platform.
- Series A
- Amount Raised: USD 7,000,000
- Date: April 2017
- Lead Investors: Kalaari Capital, Norwest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform's capabilities.
- Series B
- Amount Raised: INR 600,000,000
- Date: October 2018
- Lead Investors: Kalaari Capital, Norwest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the distribution network and increase market reach.
- Series C
- Amount Raised: USD 40,000,000
- Date: October 2019
- Lead Investors: Avataar Venture Partners, Prosus Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand operations and improve technology infrastructure.
- Series D
- Amount Raised: USD 75,000,000
- Date: April 2021
- Lead Investors: Avataar Venture Partners, Prosus Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series E
- Amount Raised: USD 300,000,000
- Date: February 2022
- Lead Investors: Goldman Sachs, SoftBank Vision Fund
- Valuation at Round: USD 1.44 billion
- Motivation Behind the Round: To expand ElasticRun's operations and enhance its distribution network.
Total Amount Raised: USD 424,000,000. Current Valuation: USD 1.44 billion.
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: Finance, technology, logistics
- Notable Investments: Facebook, Spotify, Uber
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a venture capital fund that invests in technology-driven companies poised for significant growth. It is known for its large-scale investments in innovative sectors.
- Investment Focus Areas: Technology, AI, robotics
- Notable Investments: Uber, WeWork, ByteDance
- Avataar Venture Partners
- Details: Avataar Venture Partners is a venture capital firm that focuses on investing in growth-stage companies. It aims to help businesses scale and achieve market leadership.
- Investment Focus Areas: Not explicitly mentioned
- Notable Investments: Not explicitly mentioned
- 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 high-growth markets.
- Investment Focus Areas: 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 invests in technology-oriented companies and helps them grow through strategic guidance and support.
- Investment Focus Areas: Not explicitly mentioned
- Notable Investments: Not explicitly mentioned
What's Next for ElasticRun?
ElasticRun stands at the cusp of significant growth opportunities, driven by its extensive partnerships with over 100 major FMCG brands and operations in more than 500 locations across 28 states. The recent $300 million Series E funding round, led by SoftBank Vision Fund, has propelled its valuation to $1.44 billion, underscoring the vast potential for further expansion in the Kirana commerce sector.
With the backing of prominent investors like SoftBank, Prosus Ventures, and Goldman Sachs, ElasticRun is well-positioned for future fundraising opportunities. The substantial increase in valuation and the possibility of secondary components in the current round suggest that additional investments could be on the horizon, further fueling its growth trajectory.
However, ElasticRun may face challenges such as intense competition from other Kirana commerce platforms and the need to maintain and expand its partnerships with major brands. Managing operations across a large number of locations and states will also require strategic planning and execution. Despite these hurdles, the company's strong investor support and market position indicate a promising future.
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