GoBolt Secures $75 Million in Series C Financing
December 7, 2022
Yaletown Partners was proud to work closely with one of our Portfolio Companies, GoBolt, in their recent announcement of raising more than $75 million to achieve our shared goal of investing in sustainable growth and innovation. The investment brings the total number of funds raised by GoBolt to more than $222.5 million CAD to date.
Guided by Co-Founder and CEO Mark Ang, GoBolt’s vertically integrated supply chain network offers brands a convenient single-point solution for fulfillment and last-mile deliveries. The company’s growing electric fleet is one facet of its ambitious goal to provide carbon-negative deliveries, for small parcel up to big and bulky items, by the end of 2023. GoBolt operates in markets that include Toronto, Montreal, Ottawa, Calgary, Vancouver, Los Angeles, Houston, Miami, Atlanta and New York.
“The ability to provide carbon negative, high-capacity solutions, seamlessly integrated with merchant operations is resonating with North American brands,” said our Partner Eric Bukovinsky. “The quality of its product, the scale of its network capacity, and the industry know-how to provide these solutions positions GoBolt in a unique class within the logistics space.”
Mr. Ang has ambitious goals for GoBolt’s new capital. On top of refining its logistics software and investing in warehouse automation, he wants a full 90 per cent of deliveries to be conducted by EVs by the end of next year, up from just over 20 per cent this year. We look forward to working with him and the entire team at GoBolt and celebrate more success stories like these in the near future.
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