ElasticRun valuation, funding and investors

ElasticRun works in multi-channel fulfilment solutions, based in Pune, India. Founded in 2016, it has about 3,480 employees.

Series E

VALUATION · TODAY

$1.79B −7% after Series E

Range $170M – $2.40B · Grade D

TODAY

+12 MO

$1.00B

$2.00B

$3.00B

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

Seed $2.00M

Series A $7.00M

Series B $8.50M

Growth $40.0M

Series D $75.0M

Series E $330M

Valuation12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then

HEADCOUNT · TODAY3,481 employees

+2%6m growth

+8%1y growth

+12%2y growth

2,000

4,000

Data from Jan 2021

TODAY

Predicted in 1 yr $1.67B −7% vs today

Predicted next raise $293M if a round comes

Winding-down probability 9%

Last round: Series E · $330M · Feb 2022
Valuation at last round: $1.50B
Headcount: 3,481 · flat
Grade: D
Founded: 2016

How VCMC values companies →

ElasticRun valuation today

VCMC values ElasticRun at $1.8B today, with a range of $170M to $2.4B and a grade of D. The valuation starts from its last funding round, a Series E round in Feb 2022.

Valuation by date (137 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

ElasticRun: valuation by date, as the model would have shown it on each date
Date	Valuation	Range	Predicted in 1 yr	Phase	Headcount	Trend	Grade	Winding-down probability
1 Jan 2016	$7.25M	$6.30M – $16.7M	$14.5M (+100%)	after a round	–	unknown	B	0%
2 Jan 2016	$7.26M	$6.30M – $16.7M	$14.5M (+100%)	after a round	–	unknown	B	0%
1 Feb 2016	$7.69M	$6.30M – $16.7M	$14.5M (+89%)	after a round	–	unknown	B	0%
1 Mar 2016	$8.12M	$6.30M – $16.7M	$14.5M (+78%)	after a round	–	unknown	B	0%
1 Apr 2016	$8.62M	$6.30M – $16.7M	$14.5M (+68%)	after a round	–	unknown	B	0%
1 May 2016	$9.12M	$6.30M – $16.7M	$14.5M (+59%)	after a round	–	unknown	B	0%
1 Jun 2016	$9.67M	$6.30M – $16.7M	$14.5M (+50%)	after a round	–	unknown	B	0%
1 Jul 2016	$10.2M	$6.30M – $16.7M	$14.5M (+42%)	after a round	–	unknown	B	0%
1 Aug 2016	$10.9M	$6.30M – $16.7M	$14.5M (+33%)	after a round	–	unknown	B	0%
1 Sep 2016	$11.5M	$6.30M – $16.7M	$14.5M (+26%)	after a round	–	unknown	B	0%
1 Oct 2016	$12.2M	$6.30M – $16.7M	$14.5M (+19%)	after a round	–	unknown	B	0%
1 Nov 2016	$12.9M	$6.30M – $16.7M	$14.5M (+12%)	after a round	–	unknown	B	0%
1 Dec 2016	$13.7M	$6.30M – $16.7M	$14.5M (+6%)	after a round	–	unknown	B	0%
1 Jan 2017	$14.5M	$6.30M – $16.7M	$14.5M (0%)	after a round	–	unknown	B	0%
1 Feb 2017	$14.5M	$5.98M – $16.7M	$14.5M (0%)	after a round	–	unknown	B	0%
1 Mar 2017	$14.5M	$5.71M – $16.7M	$14.5M (0%)	after a round	–	unknown	B	0%
1 Apr 2017	$14.5M	$5.43M – $16.7M	$14.5M (0%)	after a round	–	unknown	B	0%
5 Apr 2017	$26.5M	$18.6M – $67.5M	$47.6M (+80%)	after a round	–	unknown	C	0%
1 May 2017	$27.6M	$18.6M – $67.5M	$47.6M (+72%)	after a round	–	unknown	C	0%
1 Jun 2017	$29.0M	$18.6M – $67.5M	$47.6M (+64%)	after a round	–	unknown	C	0%
1 Jul 2017	$30.5M	$18.6M – $67.5M	$47.6M (+56%)	after a round	–	unknown	C	0%
1 Aug 2017	$32.0M	$18.6M – $67.5M	$47.6M (+49%)	after a round	–	unknown	C	0%
1 Sep 2017	$33.7M	$18.6M – $67.5M	$47.6M (+41%)	after a round	–	unknown	C	0%
1 Oct 2017	$35.3M	$18.6M – $67.5M	$47.6M (+35%)	after a round	–	unknown	C	0%
1 Nov 2017	$37.1M	$18.6M – $67.5M	$47.6M (+28%)	after a round	–	unknown	C	0%
1 Dec 2017	$39.0M	$18.6M – $67.5M	$47.6M (+22%)	after a round	–	unknown	C	0%
1 Jan 2018	$50.8M	$35.8M – $108M	$76.2M (+50%)	after a round	–	unknown	B	0%
2 Jan 2018	$50.8M	$35.8M – $108M	$76.2M (+50%)	after a round	–	unknown	B	0%
1 Feb 2018	$52.6M	$35.8M – $108M	$76.2M (+45%)	after a round	–	unknown	B	0%
1 Mar 2018	$54.2M	$35.8M – $108M	$76.2M (+40%)	after a round	–	unknown	B	0%
1 Apr 2018	$56.1M	$35.8M – $108M	$76.2M (+36%)	after a round	–	unknown	B	0%
1 May 2018	$58.0M	$35.8M – $108M	$76.2M (+31%)	after a round	–	unknown	B	0%
1 Jun 2018	$60.0M	$35.8M – $108M	$76.2M (+27%)	after a round	–	unknown	B	0%
1 Jul 2018	$62.1M	$35.8M – $108M	$76.2M (+23%)	after a round	–	unknown	B	0%
1 Aug 2018	$64.2M	$35.8M – $108M	$76.2M (+19%)	after a round	–	unknown	B	0%
1 Sep 2018	$66.5M	$35.8M – $108M	$76.2M (+15%)	after a round	–	unknown	B	0%
1 Oct 2018	$68.8M	$35.8M – $108M	$76.2M (+11%)	after a round	–	unknown	B	0%
1 Nov 2018	$71.2M	$35.8M – $108M	$76.2M (+7%)	after a round	–	unknown	B	0%
1 Dec 2018	$73.6M	$35.8M – $108M	$76.2M (+4%)	after a round	–	unknown	B	0%
1 Jan 2019	$76.1M	$35.8M – $108M	$76.2M (0%)	after a round	–	unknown	B	0%
1 Feb 2019	$76.2M	$34.2M – $108M	$76.2M (0%)	after a round	–	unknown	B	0%
1 Mar 2019	$76.2M	$32.9M – $108M	$76.2M (0%)	after a round	–	unknown	B	0%
1 Apr 2019	$76.2M	$31.5M – $108M	$76.2M (0%)	after a round	–	unknown	C	0%
1 May 2019	$76.2M	$30.2M – $108M	$76.2M (0%)	after a round	–	unknown	C	0%
1 Jun 2019	$76.2M	$28.9M – $108M	$76.2M (0%)	after a round	–	unknown	C	0%
1 Jul 2019	$76.2M	$27.7M – $108M	$76.2M (0%)	after a round	–	unknown	C	0%
1 Aug 2019	$76.2M	$26.5M – $108M	$76.2M (0%)	after a round	–	unknown	C	0%
1 Sep 2019	$76.2M	$25.3M – $108M	$76.2M (0%)	after a round	–	unknown	C	0%
1 Oct 2019	$76.2M	$24.3M – $108M	$76.2M (0%)	after a round	–	unknown	C	0%
31 Oct 2019	$278M	$196M – $433M	$305M (+10%)	after a round	–	unknown	B	0%
1 Nov 2019	$278M	$196M – $433M	$305M (+10%)	after a round	–	unknown	B	0%
1 Dec 2019	$280M	$196M – $433M	$305M (+9%)	after a round	–	unknown	B	0%
1 Jan 2020	$282M	$196M – $433M	$305M (+8%)	after a round	–	unknown	B	0%
1 Feb 2020	$284M	$196M – $433M	$305M (+7%)	after a round	–	unknown	B	0%
1 Mar 2020	$287M	$196M – $433M	$305M (+7%)	after a round	–	unknown	B	0%
1 Apr 2020	$289M	$196M – $433M	$305M (+6%)	after a round	–	unknown	B	0%
1 May 2020	$291M	$196M – $433M	$305M (+5%)	after a round	–	unknown	B	0%
1 Jun 2020	$294M	$196M – $433M	$305M (+4%)	after a round	–	unknown	B	0%
1 Jul 2020	$296M	$196M – $433M	$305M (+3%)	after a round	–	unknown	B	0%
1 Aug 2020	$298M	$196M – $433M	$305M (+2%)	after a round	–	unknown	B	0%
1 Sep 2020	$301M	$196M – $433M	$305M (+2%)	after a round	–	unknown	B	0%
1 Oct 2020	$303M	$196M – $433M	$305M (+1%)	after a round	–	unknown	B	0%
1 Nov 2020	$305M	$195M – $433M	$305M (0%)	after a round	–	unknown	B	0%
1 Dec 2020	$305M	$185M – $433M	$305M (0%)	after a round	–	unknown	B	0%
1 Jan 2021	$305M	$176M – $433M	$305M (0%)	after a round	760	unknown	B	0%
1 Feb 2021	$305M	$167M – $433M	$305M (0%)	after a round	760	unknown	B	0%
1 Mar 2021	$305M	$160M – $433M	$305M (0%)	after a round	760	unknown	B	0%
1 Apr 2021	$305M	$152M – $433M	$305M (0%)	after a round	760	flat	B	0%
29 Apr 2021	$400M	$348M – $598M	$520M (+30%)	after a round	760	flat	A	0%
1 May 2021	$401M	$348M – $598M	$520M (+30%)	after a round	760	flat	A	0%
1 Jun 2021	$410M	$348M – $598M	$520M (+27%)	after a round	760	flat	A	0%
1 Jul 2021	$419M	$348M – $598M	$520M (+24%)	after a round	760	flat	A	0%
1 Aug 2021	$428M	$348M – $598M	$520M (+21%)	after a round	760	flat	A	0%
1 Sep 2021	$438M	$348M – $598M	$520M (+19%)	after a round	760	flat	A	0%
1 Oct 2021	$447M	$348M – $598M	$520M (+16%)	after a round	760	flat	A	0%
1 Nov 2021	$458M	$348M – $598M	$520M (+14%)	after a round	760	flat	A	0%
1 Dec 2021	$467M	$348M – $598M	$520M (+11%)	after a round	760	flat	A	0%
1 Jan 2022	$478M	$348M – $598M	$520M (+9%)	after a round	760	flat	A	0%
1 Feb 2022	$554M	$348M – $705M	$613M (+11%)	after a round	1,600	growing	B	0%
18 Feb 2022	$1.5B	$1.3B – $2.2B	$2.0B (+30%)	after a round	1,600	growing	A	0%
1 Mar 2022	$1.5B	$1.3B – $2.2B	$2.0B (+29%)	after a round	1,600	growing	A	0%
1 Apr 2022	$1.5B	$1.3B – $2.2B	$2.0B (+26%)	after a round	1,600	growing	A	0%
1 May 2022	$1.6B	$1.3B – $2.2B	$2.0B (+23%)	after a round	1,600	growing	A	0%
1 Jun 2022	$1.6B	$1.3B – $2.2B	$2.0B (+21%)	after a round	1,600	growing	A	0%
1 Jul 2022	$1.7B	$1.3B – $2.2B	$2.0B (+18%)	after a round	1,600	growing	A	0%
1 Aug 2022	$1.7B	$1.3B – $2.2B	$2.0B (+15%)	after a round	1,600	growing	A	0%
1 Sep 2022	$1.7B	$1.3B – $2.2B	$2.0B (+13%)	after a round	1,600	growing	A	0%
1 Oct 2022	$1.8B	$1.3B – $2.2B	$2.0B (+11%)	after a round	1,600	growing	A	0%
1 Nov 2022	$1.8B	$1.3B – $2.2B	$2.0B (+8%)	after a round	1,600	unknown	A	0%
1 Dec 2022	$1.8B	$1.3B – $2.2B	$2.0B (+6%)	after a round	1,600	unknown	A	0%
1 Jan 2023	$2.1B	$1.3B – $2.6B	$2.3B (+5%)	after a round	3,100	growing	B	0%
1 Feb 2023	$2.2B	$1.3B – $2.6B	$2.3B (+2%)	after a round	3,100	growing	B	0%
1 Mar 2023	$2.3B	$1.3B – $2.6B	$2.3B (0%)	after a round	3,100	growing	B	0%
1 Apr 2023	$2.3B	$1.3B – $2.6B	$2.3B (0%)	after a round	3,100	growing	B	0%
1 May 2023	$2.3B	$1.4B – $2.6B	$2.3B (0%)	after a round	3,100	growing	B	0%
1 Jun 2023	$2.3B	$1.4B – $2.6B	$2.3B (0%)	after a round	3,100	growing	B	0%
1 Jul 2023	$2.3B	$1.4B – $2.6B	$2.3B (0%)	after a round	3,100	growing	B	0%
1 Aug 2023	$2.3B	$1.4B – $2.6B	$2.3B (0%)	after a round	3,100	growing	A	0%
1 Sep 2023	$2.3B	$1.1B – $2.6B	$2.3B (0%)	after a round	3,100	unknown	B	0%
1 Oct 2023	$2.3B	$1.0B – $2.6B	$2.3B (0%)	after a round	3,300	flat	B	0%
1 Nov 2023	$2.3B	$993M – $2.6B	$2.3B (0%)	after a round	3,300	flat	B	0%
1 Dec 2023	$2.3B	$962M – $2.6B	$2.3B (0%)	after a round	3,300	flat	B	0%
1 Jan 2024	$2.3B	$931M – $2.6B	$2.3B (0%)	after a round	3,300	flat	B	0%
1 Feb 2024	$2.3B	$901M – $2.6B	$2.3B (0%)	after a round	3,300	flat	B	0%
1 Mar 2024	$2.3B	$811M – $2.6B	$2.2B (0%)	after a round	3,100	flat	B	0%
1 Apr 2024	$2.3B	$771M – $2.6B	$2.2B (-1%)	after a round	3,100	flat	C	0%
1 May 2024	$2.3B	$734M – $2.6B	$2.2B (-2%)	after a round	3,100	flat	C	0%
1 Jun 2024	$2.3B	$697M – $2.6B	$2.2B (-3%)	after a round	3,100	flat	C	0%
1 Jul 2024	$2.2B	$664M – $2.6B	$2.1B (-5%)	after a round	3,100	flat	C	4%
1 Aug 2024	$1.8B	$631M – $2.5B	$1.5B (-16%)	after a round	3,100	flat	C	32%
1 Sep 2024	$1.8B	$599M – $2.5B	$1.5B (-17%)	after a round	3,100	flat	C	32%
1 Oct 2024	$1.8B	$571M – $2.6B	$1.5B (-18%)	after a round	3,100	flat	C	32%
1 Nov 2024	$1.6B	$538M – $2.5B	$1.2B (-22%)	after a round	3,000	flat	C	44%
1 Dec 2024	$1.6B	$512M – $2.5B	$1.2B (-23%)	after a round	3,000	flat	C	44%
1 Jan 2025	$1.6B	$487M – $2.6B	$1.2B (-23%)	after a round	3,000	flat	C	44%
1 Feb 2025	$1.5B	$463M – $2.6B	$1.2B (-24%)	after a round	3,000	flat	C	44%
1 Mar 2025	$1.5B	$442M – $2.6B	$1.1B (-23%)	after a round	3,000	flat	C	44%
1 Apr 2025	$1.4B	$420M – $2.6B	$1.1B (-23%)	after a round	3,000	flat	C	44%
1 May 2025	$1.4B	$400M – $2.5B	$1.1B (-22%)	after a round	3,000	flat	C	40%
1 Jun 2025	$1.5B	$380M – $2.5B	$1.2B (-21%)	after a round	3,000	flat	C	37%
1 Jul 2025	$1.5B	$362M – $2.5B	$1.2B (-21%)	after a round	3,000	flat	C	34%
1 Aug 2025	$1.5B	$348M – $2.5B	$1.2B (-20%)	after a round	3,162	flat	C	31%
1 Sep 2025	$1.6B	$332M – $2.5B	$1.3B (-18%)	after a round	3,209	flat	D	29%
1 Oct 2025	$1.6B	$316M – $2.5B	$1.3B (-18%)	after a round	3,209	flat	D	27%
1 Nov 2025	$1.6B	$301M – $2.5B	$1.3B (-16%)	after a round	3,281	flat	D	25%
1 Dec 2025	$1.6B	$287M – $2.5B	$1.4B (-16%)	after a round	3,281	flat	D	23%
1 Jan 2026	$1.6B	$273M – $2.5B	$1.4B (-15%)	after a round	3,281	flat	D	21%
1 Feb 2026	$1.7B	$259M – $2.5B	$1.4B (-13%)	after a round	3,281	flat	D	19%
1 Mar 2026	$1.7B	$248M – $2.5B	$1.5B (-11%)	after a round	3,281	flat	D	18%
1 Apr 2026	$1.7B	$380M – $2.5B	$1.6B (-9%)	after a round	3,403	up	C	16%
1 May 2026	$1.7B	$369M – $2.5B	$1.6B (-8%)	after a round	3,439	up	C	15%
1 Jun 2026	$1.7B	$215M – $2.4B	$1.6B (-9%)	after a round	3,439	flat	D	14%
1 Jul 2026	$1.7B	$205M – $2.4B	$1.6B (-8%)	after a round	3,452	flat	D	13%
1 Aug 2026	$1.7B	$195M – $2.4B	$1.6B (-8%)	after a round	3,452	flat	D	12%
1 Sep 2026	$1.8B	$185M – $2.4B	$1.6B (-7%)	after a round	3,476	flat	D	11%
1 Oct 2026	$1.8B	$176M – $2.4B	$1.7B (-7%)	after a round	3,481	flat	D	10%
24 Oct 2026	$1.8B	$170M – $2.4B	$1.7B (-7%)	after a round	3,481	flat	D	9%

Key facts about ElasticRun

Founded: 2016
Headquarters: Pune, India
Employees: about 3,480 +8% in a year
Total raised: $463M
Funding rounds: 6
Last round: Series E Feb 2022

ElasticRun was founded in 2016 by Sandeep Deshmukh, Saurabh Nigam and Shitiz Bansal.

ElasticRun funding history

ElasticRun has 6 funding rounds on record, from Jan 2016 to Feb 2022, $463M in total. The latest disclosed valuation is $1.50B post-money (Series E, Feb 2022).

Series E 17 Feb 2022
Led by SoftBank Vision Fund, Goldman Sachs Asset Management, Goldman Sachs; with Chimera Investment, InnoVen Capital, Prosus Ventures.
Sources: newindianexpress.com, moneycontrol.com, techfundingnews.com and 1 more
$330M
$1.50B post-money
Series D 28 Apr 2021
Led by Avataar Venture Partners, Prosus Ventures; with Kalaari Capital.
Sources: techcrunch.com
$75M
$400M post-money
Growth Equity 30 Oct 2019
Led by Prosus Ventures; with Avataar Venture Partners, Kalaari Capital.
Sources: itln.in, india.entrepreneur.com
$40M
Series B 1 Jan 2018
Investors not disclosed.
Sources: yourstory.com
$8.5M
Series A 4 Apr 2017
Led by Kalaari Capital, Norwest.
Sources: sg.news.yahoo.com, the-captable.com, yourstory.com
$7.0M
Seed 1 Jan 2016
With Kalaari Capital, Norwest.
Sources: bwdisrupt.com
$2.0M
$7.3M post-money

ElasticRun investors

9 investors have backed ElasticRun; Kalaari Capital, Prosus Ventures and Avataar Venture Partners and 4 more led at least one round.

Prosus Ventures lead, 3 rounds
Norwest lead, 2 rounds
Goldman Sachs lead
Goldman Sachs Asset Management lead
SoftBank Vision Fund lead
Chimera Investment

What ElasticRun does

ElasticRun works in warehousing & storage, with 11 recorded offerings and customers in e-commerce, consumer goods, retail and pharmaceuticals.

NTEx Transportation Services Pvt Ltd., known as ElasticRun, is an Indian private company that operates a technology-driven logistics and distribution network. The company provides multi-channel fulfilment solutions, including inventory management, order processing, and delivery services across various channels and locations. ElasticRun also offers AI-powered supply chain management platforms for forecasting, optimization, and analytics, and manages a crowdsourced logistics network that supports direct-to-consumer and e-commerce businesses in rural and remote areas. Additionally, the company operates the Kirana Commerce Network, which facilitates rural distribution services and enables access to a network of stores and customers. ElasticRun serves clients in sectors such as e-commerce, fast-moving consumer goods, pharmaceuticals, quick commerce, retail, and consumer goods, and is involved in initiatives related to digital literacy and sustainability.

Description from Veridion's company data.

Products and services

Multi-Channel Fulfilment Solutions
Rapid Commerce Fulfilment Services
Multi-Speed Fulfilment Services
AI-Powered Supply Chain SaaS Solutions
Inventory and Order Management Services
Real-Time Supply Chain Analytics Services
Rural Distribution and Commerce Access Services
Crowdsourced Logistics Network Management
Dark Store Network Management
Advanced Routing Technology Solutions
Transaction Data Analytics Services

Markets

E-commerce
Consumer Goods
Retail
Pharmaceuticals
FMCG

Technology

AI-Powered Supply Chain Optimization
Real-Time Analytics for Supply Chain Management
Advanced Routing Algorithms for Logistics Optimization

Business model

Business-to-Business
Business-to-Consumer
Software-as-a-Service
Enterprise

Industry codes (NAICS)

493110 General Warehousing and Storage 70% match
513210 Software Publishers 30% match

Questions about ElasticRun

What is ElasticRun worth?

Valuation $1.8B (range $170M to $2.4B), as of 24 Oct 2026. The last disclosed valuation was $1.50B (Series E, Feb 2022).

Has ElasticRun raised money?

ElasticRun has 6 funding rounds on record, from Jan 2016 to Feb 2022, $463M in total. The latest disclosed valuation is $1.50B post-money (Series E, Feb 2022).

Who has invested in ElasticRun?

Kalaari Capital, Prosus Ventures, Avataar Venture Partners, Norwest, Goldman Sachs and Goldman Sachs Asset Management, and 3 more. Lead investors include Kalaari Capital, Prosus Ventures, Avataar Venture Partners and Norwest.

How many people work at ElasticRun?

About 3,480, up 8% over the last year. Headcount grew from 760 in Jan 2021 to 3,481 in Sep 2026.

What does ElasticRun do?

ElasticRun works in warehousing & storage, with 11 recorded offerings and customers in e-commerce, consumer goods, retail and pharmaceuticals. Its main offerings are multi-channel fulfilment solutions, rapid commerce fulfilment services and multi-speed fulfilment services.

When was ElasticRun founded, and where is it based?

ElasticRun was founded in 2016 and is based in Pune, India. It has about 3,480 employees, up 8% over the last year.

How we value companies Report an issue

ElasticRun valuation, funding and investors

ElasticRun valuation today

Key facts about ElasticRun

ElasticRun funding history

Series E 17 Feb 2022

Series D 28 Apr 2021

Growth Equity 30 Oct 2019

Series B 1 Jan 2018

Series A 4 Apr 2017

Seed 1 Jan 2016