Mumbai—based logistics start-up Kale Logistics has raised new funds at a valuation of Rs 600 crore led by Inflexor Ventures along with 20 other individual investors. Apart from Inflexor Ventures, Narendra Kale and Vipul Jain have invested Rs 2.5 crore each, whereas Rakesh Puri and Manju Puri jointly invested Rs 1 crore in the company. The remaining amount has been invested by other 16 investors.
According to the filings with the Registrar of Companies, Kale Logistics’ board has passed a special resolution to issue 9,81,474 Series A3 compulsorily convertible participatory preference shares (CCPS) at an issue price of Rs 135 per share to raise Rs 13.25 crore or $1.7 million.
As per a report by Entrackr, this is the second funding round of the company in the last two years. In June 2020, the company raised $5 million in a Series A funding round led by Inflexor Ventures. Following this, the company’s valuation jumped two-fold. In the new funding round the company has been valued at Rs 600 crore or $75 million.
After the funding round, Jain holds a 32.93 per cent stake in the start-up, followed by Kale, who now holds a 20.79 per cent stake. Meanwhile, Inflexor Ventures holds 12.47 per cent equity in the company.