ElasticRun- a SoftBank-backed unicorn crosses the revenue of Rs 1,000 Cr in FY21
- ByStartupStory | March 5, 2022
ElasticRun, a Kirana commerce platform, after scoring a mammoth $300 million funding round from Softbank became a unicorn at the start of last month. In the fiscal ending in March 2021. The company’s numbers tell their own story, with the firm crossing Rs 1,000 crore in operating revenue, while the rural India facing firm has stayed below the radar and avoided too much media attention.
The revenue of ElasticRun from operations jumped 2.14X from Rs 505 crore during FY20 to Rs 1,081 crore in FY21. The supply has been aggregated by the B2B e-commerce platform from over 400 FMCG brands. It provides Logistics and warehousing services across 26 states in India has been provided by this platform to rural stores in over eighty thousand villages.
As ElasticRun has spent Rs 1.1 so as to earn a single rupee of operating revenue, it got pretty close to break during the FY 2020- 2021. In FY21, its EBITDA margin improved from -16.68% in FY20 to -8.48%, while the annual losses grew by 10.2% YoY to Rs 101.04 crore. Even though the company moved 3X volume of goods, the inventory turnover ratio improved from 18.46 times in FY20 to 34.17 times during FY21.
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