HSBC estimates B2B ecommerce unicorn Elastic Run valuation at $800 million

HSBC has significantly lowered its valuation estimate for SoftBank and Prosus-backed B2B ecommerce firm Elastic Run to $800 million, pulling it below the $1-billion ‘unicorn’ mark.

The company was last valued at $1.5 billion in 2022 following a $300-million funding round.

In a research note dated May 21, HSBC also lowered its valuation estimate for etailer Meesho by 14% to $2.5 billion, and that of agritech Dehaat by 11% to $400 million. However, Meesho is in the middle of a $600-million funding round, including primary and secondary share sale, of which $295 million has closed. It is expected to close the round at a valuation of up to $4 billion, ET had reported.