Logistics technology platform Kale Logistics has raised a new round led by Inflexor Ventures and other existing investors. This would be the second funding round for the Mumbai-based company over the past two years.
The board at Kale Logistics 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, company’s regulatory filings with the Registrar of Companies (RoC) show.
Inflexor Ventures has spearheaded the round with Narendra Kale and Vipul Jain by infusing Rs 2.5 crore each. Further, Rakesh Puri and Manju Puri jointly invested Rs 1 crore in the company. The remaining sum came from sixteen other individuals.
As per Fintrackr’s estimates, the company has been valued at Rs 600 crore or $75 million (post-money) and achieved nearly 2X jump in its valuation as compared to its last round. In June 2020, Kale Logistics raised $5 million in a Series A round led by Inflexor Ventures.
Kale Logistics provides software for the logistics and airports industry and claims to reduce complexities involved in the cargo logistics processing at airports, seaports and customs checkpoints through its tech solutions.
Post-allotment of this round, co-founder Vipul Jain holds 32.93% stake followed by Narendra Kale who now holds 20.79%. Its major backer Inflexor Ventures commands 12.47% equity in the company.