‘ Leap India ‘ plans to raise $15 mn via debt

Company closed $17 mn through series B funding

LEAP India, a Mumbai-based supply chain solutions startup founded in the year 2013 has recently announced its plans of raising $15mn via debt in the next two months, according to company statement.

Earlier, the company has raised funding from Mayfield, Marico's Rishabh Mariwala, who manages Sharp Ventures, the family office of Marico founder and chairperson Harsh Mariwala, India Nivesh Growth Fund, Sixth Sense and TCI Ventures.

LEAP (Leading Enterprise in Advance Pooling) currently supplies around one million pallets made of wood imported from Russia and 20,000 containers to over 200 fast moving consumer goods and automobile companies on daily rental basis. Typically, the contract for rentals is for three- five years.

"In the year 2016, we had raised around $17 mn through Series B funding from existing as well as new investors. We are now expecting to raise around $15mn through debt to meet our capital expenditure plans, we are also targeting a significant market share in an asset pooling space” said Sunu Mathew, Founder & MD, LEAP India.

LEAP India has 14 manufacturing centres and 22 warehouses across the country and is also planning to expand the capacity by the year 2020 with three million wooden pallets and would raise the amount from equity and debt to make the pallets.

Currently the company is working with leading corporates in beverages, auto, FMCG and other players like Coco Cola, Mondelez, Amul etc.

LEAP India was founded in the year 2013 with a vision of bringing novelties to the country, it’s a supply chain Solutions Company highly focused on innovations and operational efficiencies by pooling equipment thereby will save capex for corporates which have been using their own palates for a long time.

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