Proceeds from the asset financing round will be used by the decade-old Holisol towards strengthening and capacity-building, eliminating existing liabilities, and business expansion efforts, according to a prepared statement released by the company.
“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,” Rahul Dogar, founder of Holisol, said in the statement.
Mumbai-based BlackSoil Capital, which provides debt and structured financing, was founded in 2010, and is backed primarily by three family offices – Shashi Kiran Shetty, promoters of AllCargo Logistics, Gala Group, promoters of Navneet Education, and Mumbai-based realty expert Virendra Gala, according to the press release.
“Holisol has a unique business model with an intense focus on creating strategies that address specific supply-chain issues of customers. Also, the company is EBIDTA positive and its unit economics are strong,” Ankur Bansal, whole-time director, BlackSoil Capital Private Limited, said.
Launched in 2009 by Dogar, Manish Ahuja and Naveen Rawat, Holisol works with OEMs, manufacturers, retailers, brands, and marketplaces. Its portfolio of solutions include providing inbound and outbound supply chain, fulfilment, consulting, and technology services.
According to the official statement, the company, which competes with the likes of DHL, Future Supply Chain, TVS Logistics, and CHEP India, currently operates 27 fulfilment centres, spread across an estimated 1 million square feet.
In 2015, Holisol had closed a $10 million round of funding, led by private equity firm CLSA Capital Partners, which, at the time, was used to to set up more fulfilment centres, expand its last-mile delivery network and ramp up its portfolio of supply chain optimisation solutions.
Prior to that, it had raised Rs 10 crore from petroleum industry veteran Sundeep Bhandari, director and chief executive of software development and data processing company Datavision.
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