GoBOLT is a tech-enabled E2E logistics firm based out of Gurgaon, India. The organization has always emphasized reducing transportation logistics costs with the use of innovative technology solutions. Here is a brief from a recent interaction between team IT-Voice and Sumit Sharma, Co-Founder of GoBOLT:
Prateek: Kindly brief us about the company, its specialization, and the services that your company offers.
Sumit Sharma: GoBOLT is a trained logistics company that aims to increase the efficiency and speed of supply chains. Our unique hybrid operating model and in-house technology stack have enabled us to demonstrate cost advantage and flexibility to the e-commerce and non-profit commerce industries and win business across the sector. We have grown primarily on our capital-efficient asset hybrid business model, our own technology stack to deliver high performance, operational excellence, and our ability to serve a variety of business segments. Achieving 6x sales growth over the past three years is an important milestone for us. And many factors have contributed to this important growth. At GoBolt, we believe in unleashing the full potential of technology to provide seamless service to our customers. Our learning solutions will help you run your business quickly, smoothly, and efficiently. GoBOLT relies on a strong proprietary technology stack developed through careful market analysis and combines the expertise of a variety of leading supply chain experts. This will help digitize supply chains for nonprofit industries, provide a view of every node in the supply chain, and help identify hotbeds of inefficiency throughout the supply chain.
Prateek: How can logistics operations prove efficient in logistics management?
Sumit Sharma: Logistics management is basically applying the logistics concept to residues or secondary raw materials and waste. By handling logistics management tasks, companies can actively contribute to solving ecological problems and demonstrate the role that logistics plays in the area of environmental protection. A well-managed logistics program in logistics management can result in significant cost savings in procurement, disposal, inventory holding, and transportation.
Reverse logistics also play a vital role in waste management. Reverse logistics is a process where companies can become more environmentally well organized by recycling, reusing, and reducing the number of materials used. A more comprehensive view of reverse logistics includes the reduction of materials in the forward system in such a way that fewer materials flow back. In reverse logistics, reuse of materials is possible and recycling is facilitated. With increased industrialization and globalization, reverse logistics is expected to gain popularity and momentum in the coming years, especially in developing countries like India, which will not only lead to economic gains but also protect the environment.
Prateek: What is the role of technology in the growth of the logistics industry?
Sumit Sharma: India is at the peak of the digital revolution and the logistics sector is actively engaged in digital transformation. With the advent of technology and e-commerce, India’s logistics sector has seen unprecedented growth over the past few years. For the past five years, technology has been a combination of hardware and software technology. Previously, hardware technology solutions introduced IoT in logistics. BS 6 trucks entered the market with ECU control that transmits real-time truck data to aid in maintenance and management. Traffic safety technology in the cab aims to reduce road accidents. On the other hand, software solutions in the logistics sector have undergone tremendous changes. GoBOLT has entered the market with path optimization algorithms, automated enterprise management systems, warehouse management solutions, and complete visibility into the entire supply chain. We anticipate that from the Internet of Things, artificial intelligence, and machine learning to big data analytics and automation, businesses are using these modern technologies in their operations to optimize and evolve their supply chain models and drive a rapidly evolving market pressure.
Prateek: What will be the future trends or innovative ideas dominating the logistics industry in the coming years?
Sumit Sharma: The digital customer base is growing, but poorly planned infrastructure facilities cannot compliment it. Our country is trapped between rising demand for logistics services and a fragmented market for logistics services. However, since 2021, India has taken huge steps and experiments to introduce digital technology to the country. Logistics in countries need to be slimmer, which can only be achieved through cloud computing. Service providers can work together by sharing a network with the fleet via cloud computing. The influx of FDI is only increasing, forcing the logistics sector to invest more in new technologies. Timeless, pioneering, and highly innovative technologies such as machine learning, data analytics, and deep learning are now being implemented. However, the Indian economy has unexplored potential for value creation. For the logistics and supply chain management industry to benefit from the future, stakeholders need to work more collaboratively and intensively. Everyone needs to be involved, including infrastructure providers, operators, technology companies, and of course logistics service providers.
Prateek: What are your growth plans for the next 12 months?
Sumit Sharma: GoBOLT has raised $20 million in Series B from Paragon Partners and current investor Aavishkaar Capital. We are using this capital to expand our presence in new territories and improve our distribution network across India. We also invest heavily in technology and strive to innovate our SaaS offerings. At the same time, we will also focus on improving our express pass-through solutions. We would like to double our income of Rs 22 Rs 25 crores per month over the next 1218 months. In addition, we are committed to sustaining profitable growth, focusing on our vision of transforming our supply chain to represent our supply chain, aiming to achieve revenue of CZK 1,500 in fiscal year 25.