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Prosus Ventures leads $40M investment in Indian logistics startup ElasticRun

Millions of neighborhood stores that dot large and small cities, towns and villages in India and have proven tough to beat for e-commerce giants and super-chain retailers are at the center of a new play in the country.

A score of e-commerce companies, offline retail chains and fintech startups are now racing to work with these mom and pop stores as they look to tap a massive untapped opportunity.

A Pune-based startup with an idea to build a logistics network using these kirana stores said today it has won the backing of a major international investor.

Deshmukh, who previously worked at Amazon and helped the e-commerce company build its transportation network in India, said he and his other co-founders built ElasticRun because traditional logistics networks are beginning to show cracks.

“By working with the network of small stores across the country, we solve that problem while helping the store owners grow their businesses at the same time.

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