LEAP India to raise $15 mn

LEAP India (Leading Enterprise in Advance Pooling), a Mumbai-based supply chain solutions company, plans to raise $15 million via debt in the next two months.

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

LEAP currently supplies around one million pallets made of wood imported from Russia and 20,000 containers to 200 fast-moving consumer goods (FMCG) and automobile companies on a daily rental basis. The company is working with leading corporates such as Coca-Cola, Mondelez, Amul etc. 

In 2016, the company had raised around $17 million through Series B funding from the existing as well as new investors. 

Sunu Mathew, founder and MD of LEAP India, said, “We are targeting a significant market share in an asset pooling space.” 

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

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel