GoBolt, logistics start-up raises $20 million as funding
According to news reports, GoBolt has raised $20 million in its Series B round, led by Paragon Partners Growth Fund II. GoBolt is an end-to-end logistic provider offering line haul express solutions to the ecommerce and non-ecommerce industry.
Moreover, as per reports, the company is looking forward to raise another $10 million as part of its extended Series B round and is in talks with other investors. GoBolt was founded in 2015 by Aggarwal, Naitik Baghla and Sumit Sharma, the company has seen revenues grow to Rs 200 crore for the financial year ended March 31.
The company plan to make use of the capital to expand its reach to new geographies, invest in technology as well as enhance its operation.
According to market research reports, e-commerce industry is projected to grow at a CAGR of over 30% and logistics solutions providers such as Delhivery, Ecom Express, Shadowfax, Rivigo, GoBolt and Kale Logistics are witnessing tremendous growth during the ongoing pandemic.
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