ElasticRun, a Pune, India-based B2B eCommerce platform for rural India, raised $330M in funding.
The round was led by SoftBank Vision Fund 2 and Goldman Sachs Asset Management with participation from Chimera and Innoven along with long-term investor Prosus Ventures.
The company intends to use the funds to expand its rural reach into 30+ states, enabling over a million kirana (neighbourhood retail) shops to access big consumer brands and food brands through its e-commerce platform, and grow its services nationally like credit facilities for retailers to enhance the value and experience offered by the kirana stores to their customers.
Founded by Sandeep Deshmukh, Shitiz Bansal and Saurabh Nigam in 2016, ElasticRun is a B2B eCommerce Platform, enabling businesses to reach small Kirana stores in the deep rural parts of India. The company 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. ElasticRun also helps eCommerce companies reach customers in far-flung areas through its network of rural Kirana stores.
The platform provides more than 300 brands with actionable insights by unlocking data about rural commerce.
FinSMEs
21/02/2022