The assets management company Blacksoil increases its assets as it invests $771k (around Rs. 5 crore) in three startups. The startups, in which the company has invested, varies in their functions and are showing excellent performance in their respective fields.
Blacksoil has invested in WebEngage, GoBolt and True Weight. WebEngage is an online marketing innovation startup while Gobolt is a logistics startup. The third company, True Weight, is a weight management services startup.
The investment in these startups is made through Blacksoil Capital Private Limited, the financial division of the company. With this, the company aims to help the three startups in their smooth and seamless growth.
Ankur Bansal, co-founder and director, BlackSoil, said:
This [the investment] is to help them in the short term. It’s kind of a small bridge round to continue their current steady growth. All these companies are inching closer to EBITA profitability and their unit economics are strong. All the three startups would be going for a bigger equity round soon.
BlackSoil Capital is promoted by three family offices—Shashi Kiran Shetty, promoter of AllCargo Logistics; Gala Group, promoter of Navneet Education Ltd; and Mumbai-based realty expert Virendra Gala.
WebEngage was founded in October 2011 by Avlesh Singh and Ankit Utreja. It allows consumers’ businesses to drive conversions via multi-channel user engagement and retention workflows on websites, mobile app, email, text messages, and browser push.
GoBolt was founded in October 2015 by Parag Aggarwal, Sumit Sharma and Naitik Baghla. It provides transportation solutions such as right vehicle selection, route/delivery planning, real-time tracking, reliable documentation and control, and reduced transit time to its clients.
True Weight, founded by Vishnu Saraf and Megha More, provides weight loss counselling. Its programme provide users with customised plans that includes nutrition mentoring for weight loss.