ElasticRun, reported consolidated losses of Rs 618.82 crore for FY23, marking a 72% increase from the previous fiscal year.
ElasticRun’s revenue from operations for the same period increased by nearly 25%, reaching Rs 4,754.86 crore.
ElasticRun is backed by prominent investors like SoftBank, Prosus Ventures, and Goldman Sachs.
The B2B platform serves rural India by offering distribution and delivery services for Fast Moving Consumer Goods (FMCG) to corner store merchants and kiranas, operating in over 1 lakh villages across India.
The company was valued at $1.5 billion as of February 2022 and competes with platforms such as Udaan, DealShare, and larger players like JioMart, backed by Reliance.