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HomeNewsBusinessStartupExclusive | Logistics startup ElasticRun raises $45 million in Series C round from Naspers and Avataar Ventures
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Exclusive | Logistics startup ElasticRun raises $45 million in Series C round from Naspers and Avataar Ventures

Started in March 2016, ElasticRun leverages local kirana stores and small warehouses to help consumer goods companies and e-commerce firms increase the distribution of their products.

October 29, 2019 / 22:05 IST
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ElasticRun, a Pune-based logistics startup that counts Amazon India and Procter & Gamble among its top customers, has raised $45 million in Series C funding from Naspers and the newly-launched Avataar Ventures, sources said. An official announcement on the funding could be made on October 30.

Started in March 2016 by former Infosys executives Sandeep Deshmukh, Saurabh Nigam and Shitiz Bansal, ElasticRun leverages local kirana stores and small warehouses across the country to help consumer goods companies and e-commerce firms increase the distribution of their products.

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The startup faces competition from the likes of Delhivery, Blackbuck and Rivigo. Before launching ElasticRun, Deshmukh had worked with Amazon India for over four years leading the company’s hyper local venture called “KiranaNow”.

For Avataar Ventures, the $300 million fund that focused on B2B startups, ElasticRun is among the first investments since its launch in September this year.