Digital freight logistics startup Cogoport has set its sights on the European landscape as it looks to expand operations into Netherlands. Currently serving India through Gujarat, Saurashtra and Mumbai, the move will see Cogoport enable cross continent operations as also serve European markets internally.
The expansion comes shortly after the firm raised about Rs 50 crore from Accel Partners, reported last month.
Founded in 2016, Cogoport, a digital freight logistic startup, provides highly customer-focused end-to-end global digital freight solutions for importers and exporters covering warehouse to warehouse transportation solution. The business model is built around principles of aggregation and marketplace.
This also comes shortly after Cogoport signed a memorandum of understanding (MoU) with the Federation of Indian Export Organisation (FIEO) to collaborate and cooperate for the deployment of high performance technology and offer fundamental cargo management service to enable a collaborative framework amongst members operating in logistics space.
“The tie-up with FIEO will help create an environment of education on exporting to various companies and network with trade hubs,” said Purnendu Shekhar, Founder and CEO of Cogoport. The tie-up will also help Cogoport in achieving its growth target of 20,000 customers by 2018-end from the 3,150 it has currently. Cogoport works with large corporations in the manufacturing, pharma and auto sectors.
Cogoport is also working on a consensus algorithm to launch a freight index, similar to commodity indices listed on stock exchanges. The index will showcase costs across travel modes and geographies for corporates to enable better decision making on logistics transfers.