Leeway Logistics Ltd (LLL) has secured Rs 15 crore in Series A funding from Rajasthan Venture Capital Fund (RVCF) for an undisclosed stake.
Leeway operates as a third-party logistics (3PL) player, following an asset-light business model. The funds will be used to expand its current business and acquire new customers.
Horizon Global Research, a diversified financial services company with offices in the USA and India, was the key investment banker for the deal.
Leeway Logistics was founded in 2010 by a team of professionals, led by industry veteran Sanjay Sinha, who has extensive experience across industry verticals and leading multinationals. The company focuses on end-to-end supply chain solutions and corporate people movement. Its clients include key companies like General Motors, GSK, HUL and Coca Cola.
“We are ready to enter the next growth orbit and are really excited with our association with RVCF. We believe that it will bring a lot of value to our organisation,” said Sinha, managing director of Leeway.
Girish Gupta, CEO of RVCF, will be joining Leeway’s board of directors with immediate effect. “The firm is a great investment opportunity and will deliver good returns for RVCF,” said Gupta.
RVCF has recently invested in companies like PR Packaging Ltd, Shree Eduserve Pvt Ltd and NexTenders (India) Pvt Ltd.