E-com logistics services firm Holisol raises $10M from CLSA
New Delhi-based supply chain and logistics solutions provider Holisol Logistics has raised $10 million from CLSA Capital Partners' ARIA IV fund, according to a statement.
The company, which offers logistics solutions to retail and automotive companies, will use the funds for setting up more fulfilment centres as well as expanding its last-mile delivery network and supply chain optimisation solutions portfolio.
Founded in 2009 by Rahul Dogar, Naveen Rawat and Manish Ahuja, Holisol offers logistics solutions which include design, implementation and operations. In addition, the company provides last-mile delivery services. It manages 600,000 sq ft of fulfilment centres across 14 locations. Holisol's customers include Jabong, FabFurnish.com, OfficeYes.com and FreeCultr.
Last year, Holisol raised $1.5 million from Datavision Systems Pvt Ltd, a software development and data processing firm.
"We are glad to have CLSA as a shareholder. The previous round of investment by Datavision helped us implement solutions and this round will help us accelerate growth," said Rahul Dogar. "We will use the funds to scale up business, reach out to more markets and have larger customer base," he said.
Holisol, which reported Rs 1 crore revenue in its first year of operations, earned Rs 45 crore in revenues last fiscal. "The company expects to achieve 250 per cent year-over-year revenue growth till 2020," Dogar said.
ICICI Securities acted as the financial advisor to the company for the transaction while Desai & Diwanji acted as the legal advisor.