E2E supply chain logistics company Holisol Logistics has raised $3 million in debt round from Northern Arc Capital, a leading digital debt platform.
This is the company’s fifth round of funding. The first angel round took place in 2013 when the company raised $1.5 million from Data Vision Systems.
In 2015, the startup raised $10 million from CLSA Capital Partners, and in 2017, CLSA did a follow-on round of $10 million followed by $2.74 million debt from BlackSoil in 2019.
The company claims that it has been consistently observing a rise in demand from its customers for its digitized fulfillment services. The freshly infused capital will help fulfill this demand and boost its growth further, stated the company.
Commenting on the debt fundraise, Rahul S Dogar, Managing Director and Co-founder, Holisol Logistics, said, “We are highly enthused of our partnership with Northern Arc on our journey to get closer to our mission of setting up 100 FCs and 800 HFCs to create a seamlessly connected logistics super grid by 2025 and enable customer success through our platform”.
Established in 2009 by former APL Logistics employees Manish Ahuja, Naveen Rawat, and Rahul S Dogar, Holisol provides a tech-enabled end-to-end supply chain logistics platform for customers from fashion, lifestyle, and e-commerce, among others.
Its solutions cover multi-channel fulfillment for B2B and B2C retail, combined packaging, and logistics. It also offers returnable packaging solutions for auto components, agriculture, and the heavy engineering industry.
Currently, Holisol works with famous brands such as Puma, Oriflame, Avon, Mango, Nykaa, Urbanclap, Kama Ayurveda, Ashok Leyland, and Mahindra, among others.
Speaking about the deal, Bama Balakrishnan, COO, Northern Arc, added, “Northern Arc is committed to supporting mid-market companies in India through customized debt solutions suiting their business requirements. Logistics as a sector has shown tremendous resilience despite significant disruptions on account of COVID-19 and is one of our focus sectors for the Mid Market business.”
“Holisol Logistics acts as an enabler for significant operational efficiencies in the supply chain for various industries and we are delighted to partner with them in their mission to create a tech-led platform for multi-dimensional supply chain solutions,” he added.
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