October 5, 2018:
On Wednesday, Impact fund advisory, Aavishkaar announced an investment of Rs.40 Crores from its Aavishkaar Bharat Fund towards the Series-A round of Equity Investment raised by ‘GoBOLT’, the company said in a press statement’.
The raised funds will be primarily used to strengthen its team, expand its presence across India, increase its fleet size, further develop its technology platform and also foray into allied business segments.
Incorporated in 2015, GoBOLT is a Camions Logistics Solutions Pvt. Ltd., a technology-enabled surface transportation company.
The company focuses on disinter-mediation & increased vehicle utilization by leveraging technology.
Speaking on the funding, Parag Aggarwal, CEO, GoBOLT said: “We founded GoBOLT with a vision to transform the sector through technology-enabled operational excellence. With the advent of GSTand increased regulatory focus, the logistics industry is moving towards efficient transit times and GoBOLT being an express logistics company, is well positioned and prepared to lead this change.
We believe our model of using technology to integrate our drivers and vendor partners is transformational and enables their skill enhancement and financial & social inclusion. We are extremely excited to partner with Aavishkaar who shares our vision of driving transformation by creating value for all stakeholders”
Vertices Partners advised Aavishkaar and the team was led by Managing Partner Vinayak Burman.
J. Sagar Associates acted for GoBOLT and the team included Partner Pallavi Puri.
Source:The Economic Times