Logistic sector enjoys huge popularity among the investment community. This was once again vindicated on Tuesday after Leap India raised Rs 200 crore debt from Piramal Capital & House Finance. The company also informed that it is simultaneously holding discussions with several investors to raise additional Rs 250 crore.
The total period of loan consists of 7 years with a moratorium period of two years.
Logistic Startup Leap India raises Rs 200 crore from Piramal Capital & House Finance.
Leap India seeks to revolutionize supply chain operation by providing pallets and large foldable containers to companies. Both pallets and large foldable containers are used in large cargo container ships. Company claims that their products help in efficient storage and also in reducing company’s cost of logistic operation.
Founded in 2013 by Mr. Sunu Mathew, Leap India has already started making good revenue. The company posted a annual revenue of Rs 78 crore in the last financial year. It aims to increase this to Rs 155 crore in the present financial year.
The company so far has raised Rs 182 crore through multiple funding rounds. Some of its investors include Mayfield, India Nivesh and Samena Capital.
Meanwhile, as mention above logistic sector enjoys a pretty good reputation among the investment community. The fast growing Indian economy and the emergence of e-commerce industry along with other favorable factors have fuelled huge demand for logistic sector.
This has certainly propelled investors to open up their coffers for logistic startups. Although today there not may be a single unicorn from the logistic industry, this does not discount in any way that the future of the entire logistic industry is pretty bright.
Apart from Leap India, Some of the other logistic startups that are touted to become dominant players are Locus, ElasticRun, 4tigo, LogiNext and Shadowfax. All these startups are well funded and some of them already enjoy good brand reputation in the logistic industry.
