Leap India Food Logistics raises $23m in Series B funding

Agricultural paddy

Agricultural warehousing and logistics firm Leap India Food Logistics (LIFL) Wednesday announced it has raised about $23 million (Rs 164 crore) in Series-B funding from the Danish SDG Investment fund and Neev Fund.

Danish SDG Investment fund is a fund managed by Investment Fund for Developing Countries (IFU) while Neev Fund is backed by the UK government – Department for International Development (DFID).

Leap India will utilise these funds towards tangible future growth, it said in a statement.

“SDG Fund’s investment, along with round two of investment from the Neev Fund, backed by the UK Government – Department for International Development (DFID) and State Bank of India, 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 said.

They added, LIFL intends to build a large platform of grain storage sites, which can help Food Corporation of India (FCI) and the private sector to make grain storage more efficient with the use of technology and modern storage infrastructure.

“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,” IFU South Asia VP Deepa Hingorani said.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.