Logistics

Camions Logistics raises $20 mn via Series B round

Our Bureau Mumbai | Updated on June 28, 2021

Camions Logistics Solutions Private Ltd (GoBOLT), a technology-led logistics company, has raised $20 million through its Series B round from Paragon Partners Growth Fund II and existing investor Aavishkaar Capital.

The round also includes small secondary components and debt lines from private banks. Sumeet Nindrajog, Co-Founder and Senior Partner from Paragon Partners, will join the company’s board.

Sumeet Nindrajog, Co-Founder and Senior Partner, Paragon Partners, said: “GoBOLT is Paragon’s first investment in the logistics sector across the two funds and is in line with our investment strategy of partnering with high-calibre entrepreneurs with compelling business models and assisting them in scaling up operations”.

“With the introduction of GST and increasing modernisation of the highway network, the industry is experiencing a structural shift with strong tailwinds. Furthermore, Covid-19 has provided a fillip to the e-commerce industry and agile tech-led profitable players such as GoBOLT stand well placed to cater to the strong industry growth,” he added.

The transaction advisors included Haitong as the investment bankers, Alvarez & Marsal on commercial and financial diligence, PriceWaterHouseCoopers on ESG diligence, while Shardul Amarchand Mangaldas, Khaitan & Company and Vertices Partners were the legal advisors.

Published on June 28, 2021

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