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ElasticRun, India's leading B2B eCommerce platform enabling access to millions of rural Indian kirana shops, announced the expansion of its leadership team with three key new hires. The new team-members include Pankaj Roongta who has joined as the CFO, Sashi Gumma joining as CBO – Networks , and Dheeraj Arora who has come on board as CBO – Supply. The Company recently closed Series E funding of US$330 million. ElasticRun's focus now is on further expanding its rural reach into 30+ states, enabling over a million kirana (neighbourhood retail) shops to conveniently access big consumer brands and food brands.
Commenting on the new additions to the team, Sandeep Deshmukh, ElasticRun co-founder and CEO, said, "In the last few years, ElasticRun has grown thanks to a very high speed of execution. Hustle and agility is a core part of our DNA. For the next phase of growth, we are looking to build a formidable team led by seasoned business leaders who exemplify the innovation mindset along with robust scaling experience. We are a fast-growing 'Network of Possibilities' and these leaders will help us create distinctive capabilities and build a future-fit organization. We are delighted to welcome Pankaj, Sashi and Dheeraj to ElasticRun and look forward to unlocking the market opportunity and achieving milestones together."
India has over 12 million kirana shops across the country of which 10 million are in rural markets. ElasticRun is democratising physical and digital access to Indian consumers by helping businesses reach traditionally unserved consumers through neighbourhood retail stores across the deepest rural pockets of India. These rural stores remain underserved by consumer brands due to the high-cost structures of traditional distribution networks, rural kirana store's long distances from the cities and small order sizes.
Commenting on the new additions to the team, Sandeep Deshmukh, ElasticRun co-founder and CEO, said, "In the last few years, ElasticRun has grown thanks to a very high speed of execution. Hustle and agility is a core part of our DNA. For the next phase of growth, we are looking to build a formidable team led by seasoned business leaders who exemplify the innovation mindset along with robust scaling experience. We are a fast-growing 'Network of Possibilities' and these leaders will help us create distinctive capabilities and build a future-fit organization. We are delighted to welcome Pankaj, Sashi and Dheeraj to ElasticRun and look forward to unlocking the market opportunity and achieving milestones together."
India has over 12 million kirana shops across the country of which 10 million are in rural markets. ElasticRun is democratising physical and digital access to Indian consumers by helping businesses reach traditionally unserved consumers through neighbourhood retail stores across the deepest rural pockets of India. These rural stores remain underserved by consumer brands due to the high-cost structures of traditional distribution networks, rural kirana store's long distances from the cities and small order sizes.