Leap India raises Rs. 104 Cr in debt funding
- ByStartupStory | November 10, 2021
Leap India Food and Logistics Private Limited recently raised a round of debt financing from UK-based CDC Group (CDC). The company plans to use the fresh injection in building silos in low-income states, as per a company statement.
Leap India founder Anurag Malempati stated, “At Leap, our aim is to build a large platform of grain storage sites, which can help FCI (Food Corporation of India) and the private sector make grain storage more efficient with the use of technology and modern storage infrastructure. We support and work towards achieving the second goal of the IFC Sustainable Development Goals which focuses on ending hunger, achieving food security, and improving nutrition and promoting sustainable agriculture by 2030.”
Leap India was founded with a two-pronged goal of connecting the grain supply chain from farm to business, and transforming into a robust agri-silos and logistics platform.
Commenting on the investment, MD and Head of Asia at CDC Srini Nagarajan stated, “CDC is pleased to be investing in Leap India, and partnered on a joint ambition to help address food security challenges, which are intensified by climate change. As a DFI, we understand the integral role that the Food & Agriculture sector plays in ensuring good health, wellbeing, and long-term development across society.” He further added, “As such, our investment is aimed at bolstering Leap India’s handling and storage capacity, helping to reduce food loss, and ensuring that the nutritional needs of the low-income households are met.”
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