ElasticRun Secures $8 million from Venture Partners & Kalaari Capital
Ntex Transportation Services that runs logistics startup ElasticRun has secured funds amounting to $8 million (Rs 60 crore) in a fresh funding round. The round was co-led by existing backers Venture Partners and Kalaari Capital.
With this funding round, the estimated post-money valuation of the Pune-based startup has reached around $60-65 million (Rs 442-479 crore).
The company was founded in 2016 by co-founders Saurabh Nigam and Shitiz Bansal. Prior to this, the startup had raised $7 million (Rs 45.5 crore then) as part of a Series A round from Kalaari Capital and Norwest Venture Partners in April last year.
ElasticRun uses technology for transportation and supply chain operations and runs an asset-light, variable-capacity logistics network. The startup caters to clients in e-com...