Leap raises $34 million in secondary funding

Pallet pooling firm Leap has raised $34 million in a secondary round from investors led by Schroder Adveq and IIFL fund, giving early backers Mayfield Fund, IndiaNivesh and Six Sense Ventures a partial exit.

The company had raised $25 million from Morgan Stanley in a primary round in February.

Mayfield, the company’s first institutional investor, led its seed round in December 2014, after which Leap raised its Series A round from Sixth Sense and IndiaNivesh.