Total amount raised
$26.3 Millions
Latest funding date
Location
GoBolt has successfully raised $20 million in a Series B funding round, with notable investors including Paragon Partners and Aavishkaar Capital. The company continues to innovate in the logistics sector, leveraging cutting-edge technology and an extensive service network.
Keep reading to explore the intricacies of GoBolt's fundraising journey and the investors backing this innovative platform.
What Is GoBolt?
GoBolt, founded in 2015, is a tech-logistics company based in New Delhi, India. The company specializes in Line Haul & Short Haul Trucking, leveraging technology to enhance asset utilization and streamline logistics processes.
Founded by Naitik Baghla, Parag Aggarwal, and Sumit Sharma, GoBolt aims to create value through dis-intermediation and digitization. Their innovative approach includes a hybrid asset ownership model and advanced algorithms for optimized route planning.
With a workforce ranging from 11-50 employees, GoBolt continues to build a next-generation logistics platform. Their extensive service network and technology-driven solutions cater to various industries, ensuring efficient and reliable logistics operations.
How Much Funding Has GoBolt Raised?
- Seed Round
- Amount Raised: $850K
- Date: June 2016
- Lead Investors: MCube8
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and development.
- Series A
- Amount Raised: ₹400M (approximately $5.5M)
- Date: September 2018
- Lead Investors: Aavishkaar Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely for scaling operations and expanding service offerings.
- Debt Financing
- Amount Raised: Not disclosed
- Date: November 2017
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not explicitly mentioned.
- Series B
- Amount Raised: ₹1.5B (approximately $20M)
- Date: June 2021
- Lead Investors: Paragon Partners, Aavishkaar Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale up presence across industries, geographies, business segments, and to strengthen the technology platform.
Total Amount Raised: $26.35M
Current Valuation: Not publicly disclosed
Key Investors
- Aavishkaar Venture Capital
- Details: Aavishkaar Venture Capital is a leading impact investment firm based in India. They focus on early to growth stage enterprises that create social and environmental impact.
- Investment Focus Areas: Agriculture, Financial Services, Healthcare, Clean Energy, Education
- Notable Investments: Milk Mantra, AgroStar, Nepra
- Paragon Partners
- Details: Paragon Partners is a private equity firm that invests in mid-market companies in India. They aim to support businesses with strong growth potential.
- Investment Focus Areas: Consumer Products, Financial Services, Healthcare, Industrials, Technology
- Notable Investments: Maini Precision Products, Cravatex Brands, Capacite Infraprojects
- BlackSoil
- Details: BlackSoil is a venture debt firm that provides structured debt solutions to high-growth companies in India. They focus on providing flexible financing options.
- Investment Focus Areas: Technology, Healthcare, Consumer, Financial Services
- Notable Investments: OYO Rooms, LetsTransport, Furlenco
- MCube8
- Details: MCube8 is an early-stage venture capital firm that invests in innovative startups. They focus on technology-driven companies.
- Investment Focus Areas: Technology, E-commerce, Fintech
- Notable Investments: Not publicly disclosed
What's Next for GoBolt?
GoBolt is poised to capitalize on the burgeoning logistics market in India, where logistics costs account for a significant 14% of GDP. The company plans to expand its presence across various industries and geographies, leveraging AI and ML tools to drive efficiencies. This expansion presents a substantial opportunity for growth, especially as the e-commerce sector continues to accelerate.
Future fundraising appears promising, with GoBolt already in talks to raise an additional $10 million as part of its extended Series B round. This capital will be crucial for scaling operations and investing in technology. However, the company will need to navigate challenges such as high logistics costs and competition from other tech-driven logistics firms.
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