ElasticRun is an aggregated variable capacity transportation network built using idle transportation and logistics capacities from large number of dispersed entrepreneurs.
ElasticRun is addressing key challenges faced by the Indian transportation industry around high demand variability and high fixed setup costs.
ElasticRun was founded in 2014 by Sandeep Deshmukh, Shitiz Bansal, and Saurabh Nigam. The company is headquartered in Pune, Maharashtra, India.
ElasticRun acts as an extended arm of FMCG companies’ direct distribution networks in the rural area to provide a set of net new customers to the FMCG companies. It has been helping eCommerce companies reach the customers in far flung areas through its network of rural Kirana stores.
ElasticRun brings banks and financial institutions closer to a new set of underserviced SME customers from its rural Kirana network. ElasticRun has been harnessing the data generated from its platform to help its customers sharpen their marketing plans.
ElasticRun today operates in more than 300 cities in nearly all Indian states. The startup works with over 125,000 neighborhood stores, and plans to expand to reach 1 million in 18 to 24 months.
ElasticRun is backed by Prosus Ventures, Avataar Ventures, Kalaari Capital and others. The company raised $75M in Series D round on Apr 29, 2021. This brings ElasticRun's total funding to $132.1M to date. The latest round valued the company at $400M post-money.