LEAP India Pvt Ltd, which provides supply chain management services, has raised around $3 million in a bridge round led by global venture capital firm Mayfield, an existing investor, with participation from a few individual investors.

In December 2014, the company received around $4.1 million from the Silicon Valley-based Mayfield. Founded in July 2013 by Sunu Mathew, LEAP (Leading Enterprise in Advanced Pooling) India has been floated by a group of professionals with multi functional experience. It varies from strategic management, business & operations management lumber sourcing, distribution business, channel marketing, sales and supply chain. The firm is engaged in returnable packaging and pooling of equipment like wooden pallets, plastic containers, boxes and metal wire mesh. It caters to all sectors which use these products to store or transfer goods from one location to another.

“The company is in talks to raise around $40 million more,” as per DealsStreetAsia report. It will raise $20 million through equity in a couple of weeks and the remaining $20 million will be raised from various banks in tranches whenever needed, he added. The newly raised funding will be used to buy assets like pallets for FMCG business, foldable large containers (FLCs) and others.

In April 2016, Mayfield has invested $3 million series A round in Bangalore-based consumer food firm Licious for technology enhancement, marketing and consumer acquisitions. Its other investments in India include Bharat Matrimony, resto bar chain Beer Cafe, daily deals site Dealsandyou among others. In May, the VC firm announced that it has raised $525 million across two new funds ‘Mayfield XV’ and ‘Mayfield Select’. With this, Mayfield will target later-stage investments.

Image Source: ShutterStock

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