Indian logistics tech firm GoBolt has raised $5.5 million from Aavishkaar Venture Management Services in Series A. The fund is deployed from Aavishkaar’s growth-stage fund, Aavishkaar Bharat Fund. GoBolt provides data analytics and IoT leveraged logistics support to companies.
The firm, which is focused on express cargo movement and serves leading ecommerce, FMCG and consumer durables companies through its owned and hired fleet will use the funds to grow its presence across India, enlarge its fleet size, strengthen its team, further develop its technology, and expand into allied business segments.
“We are excited about working with the team at GoBOLT, who have demonstrated an unyielding focus on improving operational efficiencies through their technology platform. Logistics is a sector that is poised for transformation and GoBOLT has demonstrated that by leveraging technology. We believe that the interplay between technology and logistics through GoBOLT has the potential to create significant scale and impact,”
Ajay Maniar, Partner, Aavishkaar Venture Management Services, said in a release.