American venture capital firm Sequoia Capital is in talks with Pune-based logistics and distribution startup, ElasticRun, for a possible investment.
According to reports, Sequoia Capital is one of the front-runners to invest in ElasticRun, with number of strategic investors, some of which are believed to be from China.
“The company has received massive inbound interest from potential investors. At this point, ElasticRun is well-capitalized, and given their asset-light model and strong clientele list, the balance sheet is in a healthy position, and they aren’t in the market to raise fresh funds,” said one of the sources related to the development.
ElasticRun was founded by Sandeep Deshmukh, formerly a senior executive at Amazon India, and Saurabh Nigam and Shitiz Bansal, who were both with EdgeVerve, the product and platform unit of Infosys.
Presently, the company has a number of reputed clients including some of the country’s biggest ecommerce companies such as Amazon and Flipkart, as well as a number of blue-chip fast moving consumer goods, food and pharmaceutical companies.
However, the exact figures of the investment will only be available after the ongoing discussion.