# NTEx Transportation Services Pvt

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ntex-transportation-services-pvt

- Industry: Logistics & Distribution
- Headquarters: Pune, India
- Website: www.elastic.run
- Total disclosed funding: $431M
- Latest round: Series E (Feb 15, 2022)
- Investors on record: 9

## About

Founded in 2016 and based in Pune, India, NTEx Transportation Services Pvt Ltd trading under the name ElasticRun operates as a provider of logistics and distribution platform that enables users to run transportation and supply chain systems through asset-light mode to reach small deep rural parts of India. The company was founded by Sandeep Deshmukh (CEO), Shitiz Bansal, and Saurabh Nigam. In April 2021, ElasticRun raised INR 5613.55 million in Series D funding co-led by returning investors Avataar Venture Partners and Prosus Ventures, with participation from another returning investor Kalaari Capital. The Series D round of funding values the company at INR 33660.85 million post-money. Additionally, In February 2022, ElasticRun raised INR 22597.84 million in Series E funding co-led by new investors SB Investment Advisers and Goldman Sachs Merchant Banking Division, with participation from another new investor Chimera Capital and returning investors Prosus and InnoVen Capital. 

ElasticRun acts as an extended arm of FMCG companies’ direct distribution networks by offering a B2B eCommerce platform that enables access to rural Indian kirana shops in rural parts of India.  

The company intends to use the Series D funding to expand into rural areas in over 30 Indian states. ElasticRun also plans to use the proceeds to expand its services nationally like credit facilities for retailers to enhance the value and experience offered by the kirana stores to their customers.

## Funding rounds

- Series E, Feb 15, 2022, $300M — Goldman Sachs Asset Management, InnoVen Capital, Prosus Ventures, SB Investment Advisers, Chimera Capital
- Series D, Apr 29, 2021, $76M — Kalaari Capital, Prosus Ventures, Avataar Venture Partners, Schroder Adveq Management
- Series C, Oct 23, 2019, $39M — Kalaari Capital, Prosus Ventures, Avataar Venture Partners
- Series B, Aug 8, 2018, $8.4M — Norwest Venture Partners, Kalaari Capital
- Series A, Mar 31, 2017, $5.2M — Norwest Venture Partners, Kalaari Capital
- Seed, May 18, 2016, $2M — Norwest Venture Partners, Kalaari Capital

## Investors

- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Seed, Series A, Series B
- Kalaari Capital (https://capitalatlas.ai/funds/kalaari-capital) — Seed, Series A, Series B, Series C, Series D
- Prosus Ventures (https://capitalatlas.ai/funds/prosus-ventures) — Series C, Series D, Series E
- Avataar Venture Partners (https://capitalatlas.ai/funds/avataar-venture-partners) — Series C, Series D
- Schroder Adveq Management — Series D
- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series E
- InnoVen Capital — Series E
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series E
- Chimera Capital (https://capitalatlas.ai/funds/chimera-capital) — Series E