Bolt Logistics recognized for achievements in E-commerce Fulfillment & Logistics
TORONTO, March 15, 2022 – Bolt Logistics, a technology company building the first sustainable and vertically integrated supply chain network, was today named by CB Insights to its Retail Tech 100 ranking, which showcases the 100 most promising B2B retail tech companies in the world.
The 2022 Retail Tech 100 cohort highlights startups reimagining the retail experience across 13 categories. This year’s winning companies are working on hyper-personalized shopping, blockchain-powered commerce, autonomous delivery, virtual shopping, and more. Nineteen countries are represented this year, including India, China, Mexico, Singapore, and the Netherlands, among others.
“We are thrilled to be recognized by CB Insights for Bolt Logistics’ innovation in e-commerce fulfillment and logistics,” said Mark Ang, co-founder and CEO of Bolt Logistics. “Our team is committed to helping businesses grow and enabling positive customer experiences for our enterprise partners. Bolt’s technology and commitment toward sustainability set us apart from the pack, and being recognized by CB Insights is further validation that we’re leading a new, more environmentally conscious chapter in what is seen as a legacy industry.”
Bolt Logistics has a simplified, customer-centric, and sustainable approach to logistics. Founded in 2017, the company has grown from its initial consumer storage business to an expansive business-to-business (B2B) offering with digitally-led solutions, while also working toward its carbon-negative future. Currently, Bolt Logistics serves four key Canadian markets: Toronto, Ottawa, Montreal and Vancouver. The company secured $115M in Series B financing in November 2021 to expand into the United States in 2022.
“By almost any measure, this has been a breakout year for retail tech. We’ve seen skyrocketing funding across the industry, powering companies involved in every aspect of retail from instant grocery delivery to supply chain technology,” said Brian Lee, SVP of CB Insights’ Intelligence Unit. “In 2021 alone, these 100 companies raised $13.1B in funding, an incredibly impressive feat. As the retail landscape evolves, we’re excited to see how the companies on the Retail Tech 100 continue to revolutionize how consumers shop.”
Through an evidence-based approach, the CB Insights research team selected the Retail Tech 100 from a pool of over 7,000 companies, including applicants and nominees. Selection was based on factors including patent activity, business relations, investor profiles, news sentiment analysis, proprietary Mosaic Scores, market potential, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum. To find out more about the selection process and this year’s winners, join the CB Insights team for a webinar today at 2 p.m. ET.
Quick facts on the 2022 Retail Tech 100:
- Funding trends: In 2021, these 100 private companies raised $13.1B in equity funding across 109 deals, triple the amount they raised in 2020. So far in 2022, they have raised $2.3B across 15 deals (as of 3/8/22).
- Future market leaders: Nearly two-thirds of the companies on the list are early- or mid-stage companies. There are 20 early-stage companies (seed/angel and Series A) and 43 mid-stage firms (Series B or Series C) in this year’s cohort.
- Unicorns: 36 of the 100 companies (36%) are valued at or above $1B as of their latest funding rounds.
- Top investors: Salesforce Ventures is the most active investor in this year’s Retail Tech 100 companies, with investments in 10 companies across 19 deals since 2017. Tiger Global Management and Insight Partners, which have both invested in 9 companies on the list, are tied for second.
- Global reach: 40% of the 2022 Retail Tech 100 is based outside the US. After the US, the UK and India follow with 6 companies each. Overall, this year’s winners span 19 countries, including Singapore, Australia, China, and the Netherlands.
About CB Insights
At CB Insights, we believe the most complex strategic business questions are best answered with facts. We are a machine intelligence company that synthesizes, analyzes and visualizes millions of documents to give our clients fast, fact-based insights. Serving the majority of the Fortune 100, we give companies the power to make better decisions, take control of their own future, and capitalize on change.
About Bolt Logistics
Founded in 2017, Bolt Logistics (“Bolt”) is a technology company building the first sustainable and vertically integrated supply chain network. Bolt provides a customer-centric approach to fulfillment, including reliable warehousing, pick and pack, shipping, and last-mile delivery. By operating as an extension of every customer’s team, Bolt delivers best-in-class services every step of the way, ensuring faster, more cost-effective, and complete customer deliveries. Bolt is on track to be carbon negative by the end of 2023 and is building Canada’s largest electric vehicle fleet. For more information, visit gobolt.com.