GoBolt (formerly Bolt Logistics), a technology company building the first sustainable and vertically integrated supply chain network, today announces it has officially expanded into the U.S. This move to the U.S. increases its already extensive network, connects even more cities and serves exponentially more customers, positioning GoBolt to reach 12.75 million households across the U.S. with an electric vehicle.
As many logistics providers engage in outsourcing, GoBolt is unique in its vertically integrated supply chain network. As such, it's one of the only true modern logistics brands that operates as a single-point solution. GoBolt is a complete end-to-end logistics partner offering fulfillment, last-mile delivery, and reverse logistics with an electric fleet that helps to reduce carbon emissions.
"We're laser-focused on making logistics easier than the purchase itself," said Mark Ang (BCom 2017), Co-founder and Chief Executive Officer of GoBolt. "Expanding our network in the U.S. is the next logical step for GoBolt and its merchants, and we're excited to continue raising the bar in logistics with our North American-wide coverage."
GoBolt raised CAD $115 million ($92.3 million USD) in Series B financing in November of 2021. Led by Yaletown Partners with participation from Ingka Investments – one of the three core businesses of Ingka Group, the largest owner and operator of IKEA Retail. GoBolt is growing fast: the company achieved 3x revenue growth from the first quarter of 2021 to the first quarter of 2022 and has pledged to be carbon negative by the end of 2023. The U.S. launch is slated to be the first of many to come, with GoBolt eyeing future expansion into the United Kingdom, Australia and other key locations.