ElasticRun, a Pune based start-up, has raised a fund of 40M $ from Prosus Ventures, formerly Naspers Ventures Avataar Ventures and Kalaari Capital have been taking an active interest in investment in this logistics start-up.
This start-up analyzed the logistics market and its needs. It researched a lot and identified the problems faced by the people in logistics and discovered a local solution for such issues in a more elegant way.
This start-up is benefitting various small store owners, increasing their revenues by utilizing some time for last-mile activities.
Now, having a national reach and instant access to the highly distributed network is saving a lot of time and helping many customers across the nation. The whole transportation network is built using idle transportation and logistics and from a large number of entrepreneurs. Eventually, it is doing a great job when it comes to logistics based work.
These funds will eventually help the start-up improving its network, said by Company’s officials. Accommodation of various new product lines using the tech platform expansion, evolution of data analytics, and machine learning are some other areas on which the company is planning to work. This Pune-based start-up has a great vision of expanding its existing network at other prominent locations and to strengthen the network at present.
ElasticRun was founded in the year 2016 by Sandeep Deshmukh, Saurabh Nigam, and Shitiz Bansal. The innovative start-up has had a successful run and expanded operations to 200+ cities across India so far.
All of them are very experienced in transportation technology and have good analytical thinking about the logistics know-how and thus their expertise is getting popular in the form of this start-up which is flourishing day by day.
As far as Nesper Ventures is concerned, it has an excellent record of investing in various companies. Some of them are Meesho, Dott, Byjus, iFood, Movile, Honor, Sololearn, Similarweb, Codeacademy, and Udemy.
Moreover, it has covered a wide range of niches ranging from eCommerce to education, logistics to the blockchain, etc. Thus, this investor has a vital role in the expansion and progress of ElasticRun and solving many days to day problems in this domain.