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Ex-Amazonian's stealth startup gets $2 mn seed funding to disrupt logistics

It is building next generation transportation technology that will power ecommerce, distribution industry of India, reports Tech in Asia

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Startup

Sumit Chakraberty 

Leading VC firms Kalaari Capital and Norwest Venture Partners have quietly made a US$2 million seed investment in a startup in stealth mode, according to Termsheet, an online platform for angel investing. The deal was done in May, but not publicized so far.

The startup named ElasticRun, founded in April 2015, appears to be building an Uber for logistics and delivery. Its website says “something awesome is coming soon… stay tuned.” Its Facebook page lets the cat out of the bag. “ElasticRun is building next generation transportation technology that will ...

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First Published: Sun, November 13 2016. 15:43 IST
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