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- ElasticRun
ElasticRun Valuation, Funding & Investors
ElasticRun is valued at $1.5B as of February 2022.
Last ElasticRun valuation
$1.5B
Series E · Feb 2022
Last ElasticRun funding round
$330M
Series E · Feb 2022
Cumulative funding ElasticRun raised
$462M
across 6 funding rounds
Key investors in ElasticRun
Kalaari Capital
Norwest
Prosus Ventures
InnoVen Capital
Avataar Venture Partners
SoftBank Group
About ElasticRun
ElasticRun is a rural logistics platform extending FMCG distribution, e-commerce delivery, and financial services to underserved areas in India. Bengaluru-headquartered and founded in 2016, it leverages a network of 100,000 Kirana stores for last-mile fulfillment. Partnerships with Hindustan Unilever and Amazon India enable hyperlocal inventory and data-driven marketing insights for rural consumers.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services, Subscription
Valuation
$1.5B (Feb 2022)
ElasticRun Valuation
ElasticRun is currently valued at $1.5B, based on its Series E in February 2022.
The $330M round was led by Goldman Sachs and SoftBank Group, with participation from Chimera Investment, Prosus Ventures and InnoVen Capital.
ElasticRun's valuation has grown 23x from $65M at its Series B in October 2018 to $1.5B in February 2022, across 3 priced rounds.
ElasticRun valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2022 | Series E | $1.5B |
| Apr 2021 | Series D | $400M |
| Oct 2018 | Series B | $65M |
ElasticRun Funding History
ElasticRun has raised a total of $462M across 6 funding rounds.
ElasticRun's first fundraising round was a $2M seed round in November 2016. The most recent completed round was a $330M Series E in February 2022.
ElasticRun funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2022 | Series E | Goldman Sachs (lead); SoftBank Group (lead); Chimera Investment; Prosus Ventures; InnoVen Capital | $330M | $1.5B | ElasticRun is a B2B e-commerce platform headquartered in Pune, India that helps hundreds of thousands of neighborhood stores (kiranas) across Indian cities and towns secure inventory from top brands and obtain working capital. The company operates a crowdsourced, asset-light logistics network of partners who deliver services to these stores, enabling e-commerce firms and major brands such as Amazon, Coca-Cola, PepsiCo, Tata Consumer Products, Reliance Retail, Pidilite, Unilever, Dabur, Colgate, Britannia, Godrej, and Marico to reach customers in underserved rural markets. In February 2022, ElasticRun closed a $330 million Series E funding round led by SoftBank Vision Fund 2 and Goldman Sachs Asset Management, with participation from existing investor Prosus Ventures and new investors Chimera and InnoVen Capital. The round valued ElasticRun at $1.5 billion post-money, more than tripling its previous $400 million valuation from the Series D round in April 2021. This funding brought ElasticRun's total capital raised to over $430 million. The company intended to use the new capital to expand geographically and increase its corner store customer base across India's growing B2B marketplace sector. |
| Apr 2021 | Series D | Avataar Venture Partners (lead); Prosus Ventures (lead); Kalaari Capital | $75M | $400M | ElasticRun is a B2B e-commerce platform connecting brands and FMCG companies to neighborhood kirana stores across rural India. The company helps local retailers secure working capital, inventory from top brands, and access to e-commerce partnerships to boost revenues. As of April 2021, the startup operated in more than 300 cities across nearly all Indian states and worked with over 125,000 neighborhood stores, with plans to expand to 1 million stores within 18 to 24 months. The company raised $75 million in its Series D financing round co-led by existing investors Avataar Ventures and Prosus Ventures, with Kalaari Capital also participating. This round brought ElasticRun's cumulative funding to $130.5 million. At the time of the Series D announcement, ElasticRun reported a revenue run rate of approximately $350 million and projected growth to over $1 billion within the following 12 months. The company operated a variable-capacity, crowdsourced delivery model and worked with over 100 brands including major FMCG players such as HUL, P&G, ITC, Marico, Colgate, Nivea, Patanjali, and Dabur. The round enabled the company to further expand its reach into rural markets and provide early employees with tangible benefits of the firm's growth. |
| Oct 2019 | Series C | Avataar Venture Partners (lead); Prosus Ventures (lead); Kalaari Capital | $40M | - | - |
| Oct 2018 | Series B | Kalaari Capital (lead); Norwest (lead); InnoVen Capital | $8M | $65M | - |
| Apr 2017 | Series A | Kalaari Capital (lead); Norwest (lead) | $7M | - | ElasticRun is a Pune-based logistics technology company founded in March 2016 by Sandeep Deshmukh, Saurabh Nigam, and Shitiz Bansal, operating an asset-light platform that aggregates variable transportation capacity from dispersed logistics providers to serve enterprises in pharma, e-commerce, food, automotive, and hospitality sectors. The platform enables clients to reduce fixed capex on logistics by providing flexible, on-demand capacity, optimizing goods movement across touchpoints, and lowering costs through network aggregation. In April 2017, ElasticRun raised $7 million in a funding round led by Kalaari Capital and Norwest Venture Partners, completed in two tranches with the first $2 million in April 2016 upon meeting board targets. The funds supported building technology infrastructure, hiring talent, and expanding operations in last-mile and middle-mile logistics for e-commerce and distribution for pharma companies. Founders brought experience from DHL, Amazon, and Infosys, positioning ElasticRun to address India's high-capex, low-tech logistics challenges. |
| Nov 2016 | Seed | Kalaari Capital (lead); Norwest (lead) | $2M | - | - |
Who has invested in ElasticRun?
8 investors have backed ElasticRun across its funding rounds, including Kalaari Capital, Norwest, Prosus Ventures, InnoVen Capital, Avataar Venture Partners and SoftBank Group.
Lead investors include Goldman Sachs, SoftBank Group, Avataar Venture Partners, Prosus Ventures, Kalaari Capital and 1 other investor.
ElasticRun Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Nov 2016 | ||
| 3 | Lead | Nov 2016 | ||
| 3 | Lead | Oct 2019 | ||
| 2 | Lead | Oct 2019 | ||
| 2 | Participant | Oct 2018 | ||
| 1 | Lead | Feb 2022 | ||
This data is available for Pro users. Sign up to see all 8 ElasticRun investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialElasticRun Competitors
ElasticRun competitors include listed companies like Descartes Systems Group, GigaCloud Technology, GuoChuang Software and New Trend International Logis-Tech, and private ones like Bringg and YH Global.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $729M | $305M | $6.8B | 8.1x | ||
| Publicly listed | $1.3B | $158M | $1.9B | 1.4x | ||
| Publicly listed | $220M | ($17M) | $960M | - | ||
| Publicly listed | $352M | $42M | $661M | - |
ElasticRun Public Comps
ElasticRun is still privately-owned, but its public comps include MP Evans, CVR Partners, Tessenderlo Group, Société de fabrication des boissons de Tunisie, Sipef, Wuxi Boton Technology, Adecoagro, SLC Agricola, FMC and Premier Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $371M | $166M | 3.8x | 3.7x | 8.6x | 8.1x | |||
| $606M | $211M | 3.1x | 3.1x | 8.9x | - | |||
| $3.2B | $181M | 0.5x | 0.5x | 8.3x | 4.4x | |||
| $505M | $160M | 2.6x | 2.6x | 8.2x | 8.1x | |||
| $570M | $245M | 2.2x | 2.0x | 5.0x | 4.9x | |||
| $516M | $55M | 2.4x | - | 22.6x | - | |||
| $1.4B | $349M | 2.7x | 1.9x | 11.1x | 6.7x | |||
| $1.9B | $513M | 2.0x | 2.1x | 7.5x | 7.4x | |||
This data is available for Pro users. Sign up to see all ElasticRun competitors and their valuation data. Start Free Trial | ||||||||
Common questions about ElasticRun
| When was ElasticRun founded? | ElasticRun was founded in 2016. |
| Where is ElasticRun headquartered? | ElasticRun is headquartered in Pune, India. |
| Is ElasticRun publicly listed? | No, ElasticRun is a private, VC-backed company. |
| What is ElasticRun's valuation? | ElasticRun was last valued at $1.5B in its Series E in February 2022. |
| How much funding has ElasticRun raised? | ElasticRun has raised $462M across 6 funding rounds. |
| What was ElasticRun's last funding round? | ElasticRun's last funding round was a $330M Series E in February 2022, led by Goldman Sachs and SoftBank Group. |
| Who are ElasticRun's investors? | ElasticRun's investors include Kalaari Capital, Norwest, Prosus Ventures, Avataar Venture Partners, InnoVen Capital, SoftBank Group, Goldman Sachs and Chimera Investment. |
| Which companies are comparable to ElasticRun? | Companies comparable to ElasticRun include Bringg, YH Global, Descartes Systems Group, GigaCloud Technology, GuoChuang Software and New Trend International Logis-Tech. |
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