Gobolt, a New Delhi-based startup which provides transportation solution in the B2B segment, has raised undisclosed amount in Pre-Series A round, led by MCube8, a division of financial advisory firm MCube Capital.
With the new funding, the company will be able to ramp up its operations and and further improve its technology.
GoBolt was launched in October 2015 by Parag Aggarwal, Sumit Sharma and Naitik Baghla. It provides solutions for on-demand movement of goods between two major cities or ports or from a transportation hub to a final destination in the area.
It also provides data services such as Fleet Management System, Control Tower Services, GPS Tracking, and Data analytics. It serves categories such as automobile, ecommerce, food processing companies, etc. and its clients include PepsiCo and Tupperware, Philips, Cadbury, Panasonic, amongst others.
The company, which has self-owned as well as market aggregated trucks, claims to be doing 1000-plus trips a month. It has more than 600 trucks on its platform and provides its services across more than 35 cities.
Sumit Sharma, co-founder of the company, said,
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. Across the industry, there is pressure to reduce the costs, thus it is very difficult to bring efficiencies lowering the costs at the same time.
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.
In last few years, logistics and transportation space have got crowded with various startups coming up, such as TruckSuvidha, BlackBuck, GOGo truck, The porter, etc. These companies have also attracted decent amount of funding from investors.