India-based GoBOLT, a technology-led logistics startup focussed on providing End-to-End (E2E) logistics solutions announced on 28 June 2021 that it has raised US$ 20 million in a Series B round.
Investors: Paragon Partners Growth Fund II and existing investor Aavishkaar Capital. The round also includes secondary components as well as debt lines from private banks. Sumeet Nindrajog, Co-founder and Senior Partner from Paragon Partners will join the Board of Directors.
About GoBOLT
Founded in 2015 by Naitik Baghla, Parag Aggarwal and Sumit Sharma, GoBolt is a tech-logistics company operating in Line Haul & Short Haul Trucking. It is creating value through dis-intermediation, increased asset utilization and extensive use of technology. GoBolt aims to transform the Indian logistics industry into an express supply chain, enabled through the use of innovative technology solutions. It claims to have achieved a 6x revenue growth over the past three years.
Solutions:
1. Route Dynamics
2. Partner Management
3. Warehouse Management System
4. Planning and order management
5. Tracking
6. Trip Management
What the CEO has to say: “We are excited to on-board Paragon Partners as investors and would like to thank Aavishkaar Capital for their continued support. Indian subcontinent is grappling with inefficiencies in the supply chain with logistics cost estimated to be around 14 percent of GDP, substantially higher than the US and Europe. Whilst our offering of express E2E logistics and SaaS based technology solutions are transformational, we will continue to invest in technology and leverage Artificial Intelligence and Machine Learning tools to drive further efficiencies across the industry.” — Parag Aggarwal, CEO of GoBolt.
What the investors have to say: “GoBOLT is Paragon’s first investment in the logistics sector across the two funds and is in line with our investment strategy of partnering with high-calibre entrepreneurs with compelling business models and assisting them in scaling up operations. With the introduction of GST and increasing modernisation of the highway network, the industry is experiencing a structural shift with strong tailwinds.” — Sumeet Nindrajog, Co-founder and Senior Partner at Paragon Partners.
“The GoBOLT leadership has been exceptional in their execution, with a laser sharp focus on profitable growth. We believe the future opportunity in Indian tech-led logistics space is extremely exciting and the GoBOLT team is well placed to capture this opportunity. With this fundraise GoBOLT is well positioned to continue its rapid growth trajectory whilst delivering significant impact to the larger logistics ecosystem of customers, vendor partners and drivers.” added Ajay Maniar, Partner, Aavishkaar Capital.
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