Another logistic tech startup got funded this week. The ElasticRun startup funded by Norwest Venture Partners and Kalaari Capital of Rupees 60Cr. After completing the funding round the valuation of the startup raised $60-65 million (₹440-480Cr).
The startup is based out in Pune started in the year 2015 by Sandeep Deshmukh, Saurabh Nigam, and Shitiz Bansal. The founders are from the various prestigious universities and worked for some top companies. The ElasticRun logistics firm operated by, Ntex Transportation Services. It is having the vast network between the cities, to provide the lightweight and variable capacity.
The startup is eliminating the wastage to reduce the cost of transportation for helping the customers to choose the ElasticRun. It precisely works for the customers based on their demand.
The startup last time raised $7 million in the year 2017. In this month only, another logistics tech startup for B2B transportation usage GoBolt raised the Rupees 40Cr in series a funding. Currently, in the market, many companies are looking to invest in the startup companies in various sectors.