Cogoport flexing its muscle in the nascent tech-based logistics segment

Cogoport, an online logistics marketplace, aggregates ocean and airline freight carriers for exporters and importers across a host of categories. It offers price comparisons across players, where asset owners such as Maersk, Mediterranean Shipping Company and others, can bid for a freight order in case of high demand. The startup also offers door-to-door services by way of price comparisons for trucking, custom charges and inland docking charges from the same platform. Harsh Kumar, co-founder of Cogoport, said that “Typically, when an exporter wants to ship his products from Mumbai to Dubai, he will need to get the asset owner’s details, custom clearance, docking charges etc. from different parties. The same process also takes place in the country where the delivery is to take place. Cogoport allows all of this to be done on a single platform and hence merchants can plan their shipments in advance, enabling efficiencies”.

The startup clocks INR3.15 crore per month, and is looking to expand into newer business lines as it targets a 6x growth in FY18 with a monthly revenue run rate of INR19 crore. Currently, ocean freight segment dominates the company’s revenue stream with 95% share. However, the startup plans to reduce it to 60% and strengthen its play in other segments such as airline freight services, trucking, insurance and the high-margin custom services.