Leap India, which provides services like agricultural warehousing, supply chain, and logistics solutions, has secured ₹164 crore in its fresh Series B funding round from SDG Investment fund and Neev Fund.
The company has said that it will use the new funding towards tangible future growth. In a statement, Leap India promoters said: “SDG Fund’s investment, along with round two of investment from the Neev Fund, backed by the UK Government – Department for International Development (DFID) and State Bank of India, will allow us to expand and reach a critical size, while, at the same time, team up with strong, foreign institutional investors.”
The company’s mission is to connect the grain supply chain from farm to business and to transform itself into a robust Agri-Silos and Logistics platform. It is using technology and modern storage infrastructure to build large platform of grain storage sites to help FCI and the private sector to make grain storage more efficient.
Commenting on this funding round, Deepa Hingorani, VP at Investment Fund for Developing Countries (IFU), South Asia said: “By investing in Leap, we are addressing one of India’s most pressing challenges, namely helping to improve food storage efficiency and reduce undernourishment, while having secured an attractive risk vs. return profile in the deal.”
Leap India was founded in 2013 and is offering services around project, freight and logistics management as well as IT and consultation solutions. Its operations include both domestic and multinational companies across sectors.