B2B logistics and e-commerce startup ElasticRun has bagged $300 million from Japanese investment giant SoftBank's Vision Fund 2 at a valuation of $1.4 billion, according to regulatory filings sourced from Tofler.

The deal makes ElasticRun 2022's seventh Indian unicorn and also marks SoftBank's first Indian investment this year. Softbank’s investment in other B2B Indian startups includes logistics firm Delhivery and commerce and lending firm OfBusiness.

Goldman Sachs and existing investor Prosus Ventures also participated in ElasticRun's Series E funding round. While SoftBank, has invested nearly $180 million, Prosus Ventures invested about $54.79 million and Goldman Sachs invested $30.14 million $4.64 million in the company.

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The new round pushes the firm's all-time raise to over $430 million. It was valued at $400 million in April last year when Prosus led a $75 million round. ElasticRun raised $2 million in a seed round in 2016 from Kalaari Capital and Norwest Venture Partners.

As per the regulatory filing, the startup plans to use the funds for the expansion and growth of its operations. The company is likely to raise more funds as its Series E offer is open for subscription till March 21 this year, the filing showed.

Started in 2016 by former Amazon executives Sandeep Deshmukh, Shitiz Bansal, and Saurabh Nigam, ElasticRun uses its platform to help Kirana stores secure inventory and working capital from big brands as well as collaborate with e-commerce firms. As per its website, the company's clientele includes the likes of Amazon, Tata Consumer Products, Coca-Cola, PepsiCo, and Reliance Retail.

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(Edited by : Jomy Jos Pullokaran)