New Delhi: Kirana Commerce Platform Elasticrun, which helps businesses achieve a deeper part of Indian countryside, is on the verge of raising $ 300 million in the funding round led by Softbank, which will respect the company with more than $ 1 billion.
While Softbank will invest around $ 200 million, Goldman Sachs and existing prosus investors will also participate in the round, say three people know this problem.
“This company is very interesting in the current and growing pandemic scenario,” said a source.
“They have succeeded in adding newer services over time.” Startup headquartered Pune was valued at around $ 400 million in April last year, when they raised $ 75 million from Avataar Ventures and the prosus with participation from Kalavari Capital.
Elasticrun, founded by Sandeep Deshmukh, Shisiz Bansal and Saurabh Nigam in 2016, acted as an extension arm of the distribution of the FMCG company.
The company said that from a total of 12 million Kirana stores throughout India, the traditional distribution network reached two million.
Startup Tech Logistics, which has more than 100 brands and works with companies such as ITC, Hul, P & G, Marico and Dabur, using data from Kirana’s network network to predict demand and help companies in their efforts to expand their reach to expand the market Less service directly.
Elastrun collected $ 2 million in seedlings in 2016 from Mitra Kalavari Capital and Norwest Venture.