ElasticRun - Company Profile

Founded in 2016, ElasticRun is a B2B eCommerce platform focused on the needs of rural India. The company is headquartered in Pune. ElasticRun allows brands to expand their reach to rural markets, where traditional distribution networks are challenging to maintain. With the use of tech, ElasticRun has developed its own crowdsourced logistics network. This is used to help e-commerce companies and brands to connect with their customers living in far flung rural areas.

ElasticRun tech platform generates significant transaction data. It is especially useful for financial institutions in terms of onboarding rural stores as their SME customers. Such data also benefits brands by allowing them to improve their marketing strategies for rural areas. With its rural Kirana network, ElasticRun manages trade, finance and data related to consumption worth around $600 billion. The company's technology platform is preferred for its zero capex and variable cost.

ElasticRun - History

The idea for ElasticRun came to the founders when they noticed the lack of fulfilment ecosystem in rural areas. While urban centers were seamlessly connected, the last-mile delivery was largely nonexistent in rural areas. This prevented brands from effectively positioning their goods and services in rural areas. As a significant percentage of the population lives in rural areas, building a fulfillment ecosystem would have unlocked a market worth hundreds of billions. That is exactly what ElasticRun was created to achieve.

With its tech-driven approach, ElasticRun has benefitted the entire distribution network. It includes brands, village stores and rural consumers. ElasticRun has more than 10 million stores on its platform. It has presence in more than 80,000 villages, spread across 26 states. More than 400 brands utilize ElasticRun. It includes FMCG companies, finance, food, general merchandise, pharma and ecommerce companies. Top brands utilizing ElasticRun include HUL, Nestle, Tata Consumer Products, Coca-Cola, PepsiCo, Colgate, ITC, Godrej, Britannia and Johnson & Johnson.

ElasticRun Funding

ElasticRun has received funding worth $434.8 million. Some of the key investors include Softbank, Prosus, Goldman Sachs, Kalaari Capital, Avataar Ventures, Chimera Capital, Schroder Adveq and Norwest Venture Partners.

ElasticRun Acquisitions

No recent acquisitions have been made by ElasticRun. The company has chosen organic growth and tech innovation to expand its network.

ElasticRun - About the Founders

ElasticRun was founded by Sandeep Deshmukh, Shitiz Bansal and Saurabh Nigam. Sandeep Deshmukh currently serves as the CEO at ElasticRun. He had earlier worked with companies such as Amazon India, Infosys, Apple and DHL Worldwide Express. Sandeep has completed his MBA from IIM, Ahmedabad.

Co-founder Shitiz Bansal currently serves as the CTO at ElasticRun. He had earlier worked with EdgeVerve, Infosys and DHL. Shitiz is an alumnus of IIT, BHU. Co-founder Saurabh Nigam works as the COO at ElasticRun. He was earlier with EdgeVerve, Infosys, Procter & Gamble and DHL Supply Chain. Saurabh has a Bachelor of Engineering degree from Delhi College of Engineering.

ElasticRun - Company Profile ElasticRun - Company Profile Reviewed by Newzpot on June 09, 2024 Rating: 5
Powered by Blogger.