InstaOffice Introduces Cogoport & Its Success Story
InstaOffice is proud to introduce Cogoport! Launched in May 2016, Mumbai-based Cogoport is an online international freight exchange that offers price discovery and booking on its online platform, establishing a cost-effective match between importers and exporters. It has created a tech-enabled platform connecting importers and exporters to freight and ocean carriers.
Cogoport raised its early-stage funding from Accel Partners, this being one of the largest funding rounds among startups in the logistics industry.
Cogoport co-founder Harsh Kumar says that this is a multi-trillion dollar industry with a huge potential. The industry has all the opportunities to help the startup thrive. Also, with the magnitude of the market at present, co-existing with other players is no struggle.
An absence of the right tech in the internal logistics industry to this day, calls for more innovation and tech-based solutions to meet the scope of the industry to the optimum and harness its true potential.
The Cogoport Team
The team at Cogoport is an excellent blend of industry leaders with a finance and technology background, combined with the invaluable experience of its founders.
The Cogoport Team
Purnendu Shekhar (Founder & CEO) is a veteran in the logistics industry with an experience of more than 22 years, who introduced Kunal Rathod (AP Moller Maersk), Nishant Dalmia (Housing.com and Amazon), and Harsh Kumar (ex-investment banker) as co-founders for the startup.
The Cogoport Business Model
Cogoport has eliminated the requirement of a third party by introducing the price discovery model in its business. It provides additional features like live tracking, and shipment and delivery process analytics to the customers.
The core value of the business at Cogoport is providing an enhanced business experience to its clients. Their online platform allows price comparison of custom, trucking, and inland docking. The product has been designed to simplify the process of buying freight on a global scale, by providing absolute transparency to its customers and allowing them to make an informed decision, for a seamless service.
The Cogoport Journey So Far
With the initiation of its operations in February 2017, Cogoport has experienced a steep growth curve. With more than 49,000 port paid abroad, the startup has received over 12,000 inquiries from more than 3,000 clients, on its online portal. The company handles around 3000 containers in a month, against a monthly revenue of $2 million.
More enterprises, big and small, are turning to Cogoport to leverage the technology for movement of their goods.
Cogoport is truly on the path to meet the potential of the logistics industry on a global level.
The Cogoport Future
Cogoport’s future plan entails development of new products and a customer-centric growth of the business through global expansion and improving its footprint in the domestic market. As of today, they are serving their Indian customer base along with having offices in Hong Kong and Netherlands.
