Agri-Logistics Firm Leap India Raises INR 164 Cr To Make Grain Storage More Efficient

Agri-Logistics Firm Leap India Raises INR 164 Cr To Make Grain Storage More Efficient

SUMMARY

The firm will use the fresh funds to connect the grain supply chain from farm to business

Danish SDG investment fund and Neev fund led the Series B funding

The platform also plans to build a large platform of grain storage sites to bring in more efficiency

Agri-logistics firm Leap India has raised INR 164 Cr in Series B funding from Danish SDG Investment Fund and Neev Fund. The Coimbatore-based agricultural warehousing and logistics platform will utilise the funding towards tangible future growth and to transform itself into a robust company that connects the grain supply chain from farm to business.

It also aims to build a large platform of grain storage sites that can help the Food Corporation of India and other private sector players to make warehousing more efficient with the use of technology and modern storage infrastructure.

“SDG Fund’s investment, along with round two of investment from the Neev Fund will allow us to expand and reach a critical size, while, at the same time, team up with strong, foreign institutional investors,” Leap India promoters were quoted as saying by ET.

The Danish SDG Investment Fund is a fund managed by the Investment Fund for Developing Countries (IFU). “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,” Deepa Hingorani, South Asia VP reportedly said.

While various initiatives have been taken by agri-tech startups and the government towards agricultural production, post-harvest loss of grains is still a big concern. According to Leap India, food grain worth in excess of INR 75K Cr is damaged annually due to poor storage conditions.

“The commonly used storage method at the state level currently is cover and plinth (CAP) storage, which is economical but loss of grains in this method is inevitable as it has very little control on the microclimate and is not an efficient deterrent to pests and spoilage due to moisture,” the company says, as it aims to modernise traditional storage systems.

“We welcome the Danish SDG Investment Fund as a partner and co-investor in Leap India. This fructifies our fidelity to the Sustainable Development Goals of poverty alleviation by doubling farmer income through food security in India,” Manav Bansal, CIO, Neev Fund said.

In April 2018, Leap India raised $10 Mn in equity funding from Neev Fund, a co-investment platform backed by UK’s Department for International Development and the State Bank of India.

Step up your startup journey with BHASKAR! From resources to networking, BHASKAR connects Indian innovators with everything they need to succeed. Join today to access a platform built for innovation, growth, and community.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
UNLOCK 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
UNLOCK 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Agri-Logistics Firm Leap India Raises INR 164 Cr To Make Grain Storage More Efficient-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Agri-Logistics Firm Leap India Raises INR 164 Cr To Make Grain Storage More Efficient-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Agri-Logistics Firm Leap India Raises INR 164 Cr To Make Grain Storage More Efficient-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Agri-Logistics Firm Leap India Raises INR 164 Cr To Make Grain Storage More Efficient-Inc42 Media
Agri-Logistics Firm Leap India Raises INR 164 Cr To Make Grain Storage More Efficient-Inc42 Media
You’re in Good company