Leap India Food and Logistics Private Limited has garnered INR 104 crore. The company has concluded a round of debt funding from the CDC Group (CDC), the UK's development finance institution and Impact Investor.

Leap India will utilise these funds to build silos in low-income areas, as part of a two-pronged aim to connect the grain supply chain from farm to business and to turn itself into a powerful agri-silos and logistics platform, the firm said in a statement.

In terms of the new development, Founder of Leap India, Anurag Malempati said, "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".

Srini Nagarajan, Managing Director and Head of Asia at CDC, said, "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. 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".