E-com logistics services firm Holisol raises $1.5M in funding
Delhi-based Holisol Logistics Pvt Ltd, a provider of back-end logistics services to e-commerce companies, has received $1.5 million in venture funding from Sundeep Bhandari, director and CEO of Datavision, a software development and data processing company, a top executive of the firm told Techcircle.in. Holisol will use the funds to expand its business to new areas and geographical locations.
"Currently, majority of our customers and warehousing & distributions set-ups are located in Delhi and Gurgaon. Now, we want to expand to other parts of India, including Mumbai, Bangalore and Kolkata," said Naveen Rawat, co-founder of Holisol.
The firm was founded in 2009 by a group of the trio of Rawat, Manish Ahuja and Anoop Raizada. Rawat comes with more than 15 years experience in the logistics industry, while Ahuja has more than nine years experience in supply chain and logistics industry. Their partner Dogar also comes with 15 years of experience in logistics and supply chain. All of them had earlier worked at APL Logistics.
Holisol provides logistics solutions to traditional retailer and e-commerce businesses. Its solutions include consulting and design for e-commerce, distribution modelling, transport packaging and logistics optimisations, among others. It also provides warehousing material handling systems, operations process design, inventory management, pick-up, customer delivery, distribution management, customer & supplier order management, international freight management and ERP implementation support.
Currently, Holison has more than 10 customers that include e-com companies such as Fab Furnish, FreeCultr, Urban Ladder, Pepperfry, Jabong and OfficeYes.
Holisol currently manages 4.5 lakh square feet of warehousing space. The firm claims that it is processing 40,000 orders per day. With 75 people on board, the firm expects a turnover of Rs 40 crore in the current financial year.
Holisol is mainly competing with Delhivery, which is currently in talks with Renuka Ramnath-led private equity firm Multiples Alternate Asset Management to raise Rs 160 crore ($26.1 million).
Early this year e-commerce logistics startup chhotu.in, backed by One97 Communications founder Vijay Shekhar Sharma, shut down its operations as it failed to raise further funding.
(Edited by Joby Puthuparampil Johnson)