Friday, April 7, 2017

Logistics startup ElasticRun raises raises $7 million from various investores

Pune based Ntex Transportation Services Pvt Ltd that runs ElasticRun has raised $7 million (Rs 45.5 crore) as part of a Series A round from Kalaari Capital Advisors Pvt Ltd and Norwest Venture Partners. The company will use the proceeds to upgrade its tech infrastructure, on-board talent and expand operations.

Also read: Whatfix raised $3.6 mn from Stellaris and others

ElasticRun cofounder and CEO Sandeep Deshmukh said, Indian logistics is considered a high capex and low-tech industry. The challenges and technology requirements are highly customised and contextual to our market. We have the right mix of transportation technology and a seasoned operations team to deliver innovative products for this space.

ElasticRun helps its customers reduce logistics spend by eliminating wastage in transportation capacity and run zero-capex logistics functions. The company caters to clients in the e- commerce, pharmaceutical, food and automotive sectors.


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