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Prosus leads $40 mn funding in virtual logistics network ElasticRun

ElasticRun enables small store owners to leverage quiet times of the day to do local last mile deliveries

money, investment, private equity, PE, banks

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Ranju Sarkar
ElasticRun, a virtual logistics network that is changing consumer products delivery, announced on Wednesday the closing of $40 million fundraise led by Prosus Ventures (formerly Naspers Ventures), with participation from existing investors Avataar Ventures and Kalaari Capital. This investment positions ElasticRun to expand its network coverage to new geographies and expand in additional categories, the company said in a statement. Avendus Capital was the financial advisor to ElasticRun on this deal.

Headquartered in Pune, ElasticRun’s services are already available in over 200 Indian cities and are built on its network of small convenience stores. ElasticRun enables small store owners to leverage
Topics : Naspers

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First Published: Oct 30 2019 | 2:00 PM IST

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