Comments
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.