Technology investor Prosus firmed up its investment in Indian start-up ElasticRun as it helped raise $75m in new funding for the logistics company.
Kiranas are small, neighbourhood retail stores in India that are said to be the cornerstone of commerce in the country. Ashutosh Sharma, head of investments for India at Prosus Ventures, said: “We are delighted to see the progress ElasticRun has made since we made our first investment 18 months ago.”ElasticRun co-founder and CEO Sandeep Deshmukh said 2020 had seen one of the biggest growth spikes in its store network and e-commerce business.
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