Mumbai-based logistics startup Leap India has announced plans to raise ₹535 crore ($63 million) in its latest funding round, led by private equity firm KKR. This marks the first major investment for Leap India in 2024, with Sixth Sense, First Bridge, Madhurima International, and others participating.
Details of the fundraising
Leap India’s board approved the issuance of preference and equity shares at ₹400 each to secure the funding. KKR, contributing ₹333 crore, will hold a controlling 78.64% stake post-investment. Sixth Sense, First Bridge, and Madhurima International are set to invest ₹70 crore, ₹60 crore, and ₹50 crore respectively. The remaining funds will come from individuals and smaller investors.
Strengthening supply chain solutions
Specializing in supply chain services, Leap India provides equipment pooling, inventory management, transportation, and packaging solutions to industries like e-commerce, automotive, and consumer goods. The funding will be used for operational expansion and general corporate purposes, aiming to solidify Leap India’s position in a growing logistics market.
Valuation and growth prospects
Following this investment, Leap India’s valuation is expected to touch ₹5,060 crore ($600 million). With a 20% year-on-year revenue growth in FY23, the firm posted ₹257 crore in revenue and ₹9 crore in profit. The capital infusion will propel its efforts to cater to India’s booming logistics and e-commerce demands, fostering innovation in the sector.
Supporting India’s growth trajectory
Leap India’s expansion aligns with India’s vision of becoming a global supply chain hub. The investment will enhance operational efficiency, create jobs, and support industries dependent on seamless logistics solutions, contributing to the nation’s economic progress.
KKR Leads Leap India’s logistics growth push
As India continues to witness rapid growth in logistics and e-commerce, Leap India’s strategic fundraising underscores the sector’s potential. The KKR-led funding not only strengthens the company’s market position but also aligns with India’s broader growth narrative.
