Bolt Logistics rebrands to GoBolt, expands supply chain network to US
E-commerce fulfillment and delivery provider Bolt Logistics has changed its name to GoBolt as the company officially expands into the United States (US). GoBolt represents Bolt Logistics’ second rebrand, initially launching in 2017 as Second Closet to focus on providing consumer storage options. It then adopted the name Bolt Logistics in 2021, marking the company’s shift from B2C to a B2B focus.
Prior to its expansion, GoBolt has already expressed plans to tap into new markets from south of the border. When the company secured £115 million CAD in November as Bolt, it revealed to BetaKit its intent to make inroads to California and Texas in the first quarter of this year. At that time, GoBolt had around a dozen facilities across Toronto, Vancouver, Ottawa, and Montreal, shipping thousands of packages a day.
“We’re going because our clients are like, ‘please come to the US because we have a lot of business.’ So, we were opening up in the US with a ton of clients already,” said serial entrepreneur Michael Hyatt, who has been an investor with GoBolt since day one. As it sets its foot onto American markets, GoBolt is also eyeing growth plans beyond North America. The company said its US launch is slated to be the “first of many to come,” citing the United Kingdom and Australia as potential future locations.
Led by co-founders Mark Ang (CEO) and Heindrik Bernabe (CTO), GoBolt provides a tech-enabled supply chain network that includes warehousing, pick and pack, shipping, and last-mile delivery. The startup’s offerings have attracted the likes of Ikea, Chanel, and other major retailers. GoBolt claims that it has achieved 3x revenue growth from the first quarter of 2021 to the first quarter of 2022.
RELATED: Ikea expands EV partnership with Bolt following Series B investment GoBolt says what sets it apart in the fulfillment industry, known for its heavy environmental impact, is the company’s sustainable approach to logistics. With the goal to be carbon negative by 2023, Bolt touts itself as the first sustainable and vertically integrated supply chain network in its fleet of electric vehicles that helps to reduce carbon emissions.
Earlier this year, Ikea partnered with GoBolt to deploy 30 electric vehicles across Canada. In January, GoBolt said that it has 10 operational EV trucks in its fleet, with the other 20 still being manufactured. The initial group of vehicles has offset 170,000 kg of carbon emissions per year, with Bolt intending to increase the number to over 1.2 million kg by 2023.
Image courtesy Bolt.
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