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ElasticRun raises USD 40 million led by Prosus Ventures

Wednesday, 30 Oct 2019
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ElasticRun, a virtual logistics network, announced the closing of a USD 40 million fundraise led by Prosus Ventures, with participation from the  existing investor Avataar Ventures and Kalaari Capital.

The investment round will help the company expand its logistics network.

The company’s services are already available in over 200 Indian cities and built on its network of small convenience stores. It looks forward to extend this network to a million stores in near future.

The company will use the new funds to further build its technology platform to accommodate new product lines, expand the platform to additional categories and evolve its analytics and machine learning platforms to handle national scale.

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