ElasticRun, a Pune-based commerce platform, achieves unicorn status with a $300 million funding round led by SoftBank, enhancing its operations to serve rural Kirana stores in India.

Target Information

ElasticRun, a Pune-based commerce platform, has recently achieved unicorn status by securing $300 million in funding led by the SoftBank Vision Fund 2. This significant investment values the startup at $1.5 billion. ElasticRun specializes in facilitating connections between large brands and Kirana stores—local neighborhood shops that provide daily essentials, particularly in rural India. By leveraging an extensive delivery network, the platform enables these small retailers to access inventory and working capital from established brands while expanding their market presence.

Founded six years ago, ElasticRun is dedicated to empowering Kirana stores by offering them opportunities to increase their revenue streams through collaborations with multinational companies. Notable partners include Amazon, Coca Cola, Kellogg's, Procter & Gamble, and Reliance Retail, all involved in enhancing the supply chain and market reach for these stores. With a network that connects over 10 million Kirana outlets to e-commerce capabilities, ElasticRun plays a pivotal role in bridging the gap between rural markets and fast-moving consumer goods (FMCG) companies.

Industry Overview in India

The Indian retail landscape is characterized by a vast number of small, unorganized retailers, including approximately 12 million Kirana stores, making up a significant portion of the country's retail sector. This market is ripe for disruption, as both