[Funding alert] Logistics startup Holisol raises $3M in debt from Northern Arc
E2E tech-enabled supply chain logistics companyhas announced that it has raised $3 million in debt round from Northern Arc Capital, a leading digital debt platform.
This is the fifth round of fundraising for Holisol. The first angel round happened in 2013 when the company raised $1.5 million from Sundeep Bhandari-promoted 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.
According to the company, Holisol has been consistently witnessing a surge in demand from its customers for its digitised fulfilment services.
The new round of fundraising will help fulfil this demand and accelerate its growth further, stated the company.
Speaking 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”.
Founded in 2009 by former APL Logistics employees Manish Ahuja, Naveen Rawat, and Rahul S Dogar, Holisol offers tech-enabled end-to-end supply chain logistics platform for clients from fashion, lifestyle, and ecommerce, among others.
Holisol's multi channel fulfilment centre [Image Credit: Holisol]
Its solutions include multi-channel fulfilment for B2B and B2C retail, integrated packaging, and logistics. It also offers returnable packaging solutions for auto components, agriculture, and the heavy engineering industry.
At present, Holisol works with popular brands such as Puma, Oriflame, Avon, Mango, Nykaa, Urbanclap, Kama Ayurveda, Ashok Leyland, and Mahindra, among others.
Commenting on the transaction, Bama Balakrishnan, COO, Northern Arc, added, “Northern Arc is committed to supporting mid-market companies in India through customised 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.