PE Fund Investments
Logistics startup ElasticRun to raise $300-M from SoftBank, others
Pune-based logistics startup ElasticRun, which helps businesses reach deeper parts of rural India, is close to raising USD 300 million in a funding round led by SoftBank, which will value the company at over USD 1 billion. While SoftBank will invest around USD 200 million, Goldman Sachs and existing investor Prosus (Naspers) will also participate in the round. The startup was valued at around USD 400 million last April, when it raised USD 75 million from Avataar Ventures and Prosus with participation from Kalaari Capital. ElasticRun, founded by Sandeep Deshmukh, Shitiz Bansal and Saurabh Nigam in 2016, acts as an extended arm of FMCG companies' distribution reach.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
