Gobolt a New Delhi based Logistics tech startup has raised an undisclosed amount of funding in its Pre Series round A from MCube8 a startup incubator, division of MCube Capital a financial advisory firm. The funds will be used in improving technology and operations.
GoBolt was founded in October 2015 by Parag Aggarwal, Sumit Sharma and Naitik Baghla. It provides solutions for movement of goods between 2 major cities or ports or from a transportation hub to final destinations, transportation solutions includes real time tracking, route or delivery planning, right vehicle selection, reduce transit time to its users and reliable documentation.
It serves pharma automobile, consumer goods makers, e-commerce, white goods manufacturers and food processing companies. Its clients include Cadbury, Philips, PepsiCo, Tupperware and Panasonic, among others.
It has both aggregated owned trucks and it claims to be doing around 1000 trips per month. It provides services in more than 35 cities with 600+ trucks on its platform.
Many truck aggregators raised funding including GoGo Truck a Chennai based mini truck aggregator raised seed funding from Madurai based angel investors. TruckMandi raised around $2 million in its Pre-series round A funding. BlackBuck raised $25 Million in its Series B round funding from Tiger Global. The Porter a Mumbai based online logistics market raised Rs 3 crore funding from Kae Capital.
Sumit Sharma CO-founder of GoBolt said
“At GoBolt, we believe that our operational expertise, focus on removing inherent inefficiencies of the system, and bringing technology which is more focused on improving operational efficiency rather than consumer facing technology, will be the key differentiation points. Logistics is among the bottom most inefficient sectors in India, and is plagued by unprofessionalism, lack of technology, dependence on brokers for movements., so there are many opportunities that we are looking forward to cash on.”