Logistics solutions provider Holisol raises $2.8 mn from BlackSoil Capital

Delhi-based supply chain solutions provider Holisol Logistics raised $2.8 million in an asset financing round from BlackSoil Capital. 

The company will use the capital raised for business expansion and technology innovation, it said in a statement. It previously raised capital from CLSA and Sundeep Bhandari, CEO of Datavision.

“We aim to provide solutions that fit our customers’ business requirements, rather than offering standard products which require the customer to fit in. Holisol has therefore created a value proposition of design-implement-manage to offer clients an experience of working with what feels like their own extended team,” founder Rahul S Dogar said.

Founded in 2009 by Dogar, Manish Ahuja and Naveen Rawat, Holisol claims to manage around one million square feet of warehouse space across 27 fulfilment centres in India. It works with original equipment manufacturers, retailers, brands and marketplaces, managing warehousing and fulfilment centres and counts International Tractors, Oriflame, Amway and Herbalife among its clients. 

“Holisol has a unique business model with an intense focus on creating strategies that address specific supply chain issues of customers,” Ankur Bansal, whole time director at BlackSoil Capital, said.  The Mumbai-based NBFC is promoted by the family offices of Shashi Kiran Shetty, promoter of AllCargo Logistics, the promoters of Navneet Education, Gala Group and realty expert Virendra Gala. 

“The last few quarters have witnessed a lot of volatility in the NBFC space, as liquidity has not been easily available for the broader market but the companies/NBFCs which have robust underwriting platforms have been able to turn this into an opportunity for growth,” Bansal said. The NBFC has backed close to 35 venture debt deals.

The technology-enabled logistics sector has seen multiple deals this year. In February, logistics technology provider FourKites raised $50 million from US based investors including August Capital, Bain Capital Ventures, Hyde Park Ventures. In May, Canada Pension Plan Investment Board acquired an 8% stake in SoftBank backed logistics company Delhivery for $115 million. In May, logistics technology company Locus raised $26 million from tiger Global.