Delhi based Holisol logistics, a back-end logistic provider to ecommerce players has raised $1.5 Mn in its first venture capital funding led by oil and gas professional Sundeep Bhandari.
Founded in 2009 by three logistics professionals – Manish Ahuja, Naveen Rawat and Rahul S Dogar, who had exposure to the international supply chain of retailing and automotive companies in their previous jobs, Holisol expects to achieve a turnover of about INR 40 Cr for the current year.
The investment was made by Bhandari through his company Datavision.
“The investment has helped Holisol expand its business in new areas and geographical locations,” the official said.
Holisol provides backend logistic support to ecommerce companies including Fabfurnish, Jabong, Urbanladder, among others.
The firm is in discussion to raise additional capital for its growth plans.
Holisol Logistics currently manages 4.5 lakh square feet of warehousing space and processing 40,000 orders per day with a team of 75 own staff and 1,800 deployed though contractors. It has recently expanded its operations in West and South of India and for future it plans to reach out Tier 2 and Tier 3 cities.