Dealflow | October 10, 2018

Aavishkaar backs Indian logistics tech firm GoBolt

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, October 9 – Mumbai-based GoBolt makes software to help India’s growing on-demand logistics sector operate more efficiently. The company runs its own delivery fleet, and also contracts with other small fleet owners.

Impact investor and advisory firm Aavishkaar made a $5.5 million investment in GoBolt from its Aavishkaar Bharat Fund. The growth-stage fund, which has surpassed a $95 million first close towards a $200 million goal, invests business serving underserved parts of India.

Aavishkaar’s Ajay Maniar cited GoBolt’s potential impact on livelihoods, including its ability to “integrate and up-skill small fleet operators” and enable drivers to work more regular hours, as part of its basis for the investment.