Aavishkaar invests Rs 40 crore in logistics company GoBOLT

Impact fund advisory firm Aavishkaarhas invested Rs 40 crore in GoBOLT, a technology-enabled surface transportation company that is run by Camions Logistics Solutions Pvt. Ltd. The company said that the funds from the Series-A round of equity investment will be primarily used to strengthen its team, expand its presence across India, increase its fleet size, develop its technology platform and also foray into allied business segments.

Despite the large size of India’s road transportation industry at 8% of GDP, it is plagued with significant inefficiencies like high levels of fragmentation, empty backhauls, low vehicle utilization, and excessive intermediation, integration of technology with logistics provides an opportunity to address the legacy issues, the company said in a statement. It aims to provide a far superior customer experience in terms of timely placement of vehicles, reduced transit times and greater visibility and control on the cargo.

Speaking about the funding, ParagAggarwal, CEO, GoBOLT said, “We founded GoBOLT with a vision to transform the sector through technology-enabled operational excellence. With the advent of GST and 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 and social inclusion.”

Ajay Maniar, Partner, Aavishkaar Venture Management Services, said, “Logistics is a sector that is poised for transformation and GoBOLT has demonstrated that by leveraging technology they are able to integrate and up-skill small fleet operators to deliver high levels of vehicles utilization, enable drivers to return home at regular and pre-defined frequency and provide consistent and superior service to the customer. We believe that the interplay between technology and logistics through GoBOLT has the potential to create significant scale and impact.”

GoBOLT, incorporated in 2015, focuses on disintermediation and increased vehicle utilization by leveraging technology. The company focuses on express cargo movement and caters to leading E-Commerce, FMCG and FMCD companies through its fleet of owned and hired vehicles. Its technology platform enables it to drive operational efficiencies through improved route planning, documentation, tracking and control, etc. resulting in reduced transit time and improved service levels for its clients.