News on Medial

B2B unicorn ElastricRun's losses climbs 72% to Rs 618.82 crore in FY23

IndianStartupNews · 1y

Pune-based B2B e-commerce solutions provider ElasticRun reported a significant increase in net losses for FY23, reaching Rs 618.82 crore, a 72.57% rise from the previous year. Despite this, the company saw a 24.71% growth in revenue from operations, reaching Rs 4,754.86 crore. ElasticRun primarily generates revenue by selling products procured from FMCG brands and also provides logistics and warehousing services. The company plans to expand into private-label FMCG products to increase margins and leverage the projected growth of the Indian B2B e-commerce industry, which is expected to reach $125 billion by 2027.