Leap India Food and Logistics Private Limited Tuesday announced that it has raised debt financing of about $14 million from CDC Group, the UK’s development finance institution.
Leap India will utilise these funds towards building silos in low-income states, it said in a statement.
Leap India founder Anurag Malempati said, “CDC’s debt investment along with the previously raised equity investments from IFU (a Danish Sovereign Wealth Fund) and Neev Fund (managed by SBICap Ventures and backed by the government of UK through FCDO) will allow us to expand and reach a critical size, while, at the same time, team up with strong, foreign institutional investors.”
Leap India was founded in 2017 by Rajeev Karthikeyan, Anurag Malempati and Nikhila Karthikeyan and is headquartered in Coimbatore, Tamil Nadu. It is engaged in the development of food storage silo terminals and logistics infrastructure for the private sector and the Food Corporation of India (FCI).
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India announced from November 7-9, 2021.
