BlackSoil Capital has invested around INR 5 Cr (about $770K) in three startups in the form of short-term working capital demand loans. The three startups include logistics startup GoBolt, marketing automation startup WebEngage, and weight management services startup Truweight.
“This is to help them in the short term. It’s kind of a small bridge round to continue their current steady growth. All these companies are inching closer to EBITA profitability and their unit economics are strong. All the three startups would be going for a bigger equity round soon,” said Ankur Bansal, cofounder, and director of BlackSoil.
BlackSoil Capital is promoted by three family offices – Shashi Kiran Shetty (promoter of AllCargo Logistics), Gala Group (promoter of Navneet Education), and Mumbai-based realty expert Virendra Gala.
Below are the brief description of the startups:
GoBolt is a Delhi-based startup which was founded in October 2015 by Parag Aggarwal, Sumit Sharma and Naitik Baghla. It provides transportation solutions such as right vehicle selection, route/delivery planning, real-time tracking, reliable documentation and control, and reduced transit time to its clients.
Founded in October 2010 by Avlesh Singh and Ankit Utreja, WebEngage allows online businesses to run promotions and offers on their websites and gather customer insights.
The startup was founded by Vishnu Saraf and Megha More. It provides weight loss counseling. Its programme provides users with customised plans that include nutrition mentoring for weight loss. The startup’s mobile app connects clients to personal dieticians for real-time counseling and provides users access to the firm’s food products, which are available across the country.