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Introduction

Mumbai-based logistics startup Leap India is raising ₹535 crore (approximately $63 million) in its first funding round this year. The round is led by private equity giant KKR, with contributions from Sixth Sense Ventures, FirstBridge India, Madhurima International, Niveshaay Sambhav Fund, and individual investors like Rakesh Shah and Madhu Sudhir Jain.

Key Investment Details

• Amount Raised: ₹535 crore (approximately $63 million)
• Lead Investor: KKR (₹333 crore)

• Other Investors:
  • Sixth Sense Ventures: ₹70 crore
  • FirstBridge India: ₹60 crore
  • Madhurima International: ₹50 crore
  • Niveshaay Sambhav Fund and Individual Investors: Remaining amount

Regulatory filings show the issuance of 1,16,25,000 preference shares and 17,50,000 equity shares at ₹400 per share.

Utilization of Funds

The newly raised capital will be utilized for:

1. Enhancing business operations.
2. Meeting general corporate requirements.

Valuation and Stake Distribution

• Post-Funding Valuation: ₹5,060 crore (approximately $600 million).
• Stakeholding Post-Investment:
  • KKR: 78.64%
  • Sixth Sense: 1.38%
  • FirstBridge India: 1.19%
  • Madhurima International: 0.99%

Leap India’s Expertise

Leap India specializes in supply chain solutions and offers services like:

• Equipment pooling
• Packaging
• Inventory management
• Transportation
• Repair and maintenance

The company caters to industries such as e-commerce, automotive, consumer durables, and beverages.

Recent Growth and Performance

• FY23 Revenue: ₹257 crore (20% YoY growth).
• FY23 Profit: ₹9 crore.

Historical Investments

Last year, KKR acquired a majority stake in Leap India through a mix of primary and secondary investments. Earlier investors like TVS Capital, North Heaven, Mayfield, and Morgan Stanley exited during this phase.

In 2021, Morgan Stanley invested $25 million in Leap India.