Leap India, Mumbai based supply chain solution providing startup has raised INR 88.6 Crores (US$ 13 Million) in series B round of funding. The funding round saw participation from IndiaNivesh Growth Fund, TCI Ventures, Sixth Sense, Rishabh Mariwala (Sharp Ventures) and Harsh Mariwala. The development was first reported by ET.
Leap India, founded by Sunu Mathew in 2013 is an online rental marketplace which provides pallets and containers on rent to enable faster supplies of goods across categories. It deals in returnable packaging equipment such as wooden boxes, pallets, plastic containers and metal wires which help store or transport products from one place to another.
Leap India counts biggies such as Tata Motors, LG, Abott, Carlsberg, All Cargo and Bluedart among its customers.
Talking about Leap India and the latest funding, Vikram Godse of MF Advisors stated that with the proper implementation of GST, the warehouse industry will become even bigger. Leasing of pallets to increase efficiency without physically increasing warehouse sizes seems difficult and solution providers such as Leap India are making it possible.
The raised funds will be used to strengthen the team across segments and getting more assets to cater to a bigger consumer base.