Tiger Global-backed global trade platform Cogoport intends to add over 1,000 people in the next year through its recently introduced Post-Graduate Certificate Program in Global Logistics and Freight Management, developed in partnership with IIM Amritsar. Presently, Cogoport has a team of 1,000 employees.
Hrishikesh Kulkarni, the newly appointed Chief Operating Officer of the company, explained that their 300-hour certification program will facilitate the addition of approximately 200–300 people in the next six to eight months, with a potential for another 1,000 people in the following year, contingent on macroeconomic indicators.
It has set up Cogocademy, an initiative taken with the aim of training and upskilling talents in the fields of international logistics and global supply chains. The program will offer students an opportunity to receive preferential consideration when applying for positions at the company and across the industry.
According to the World Trade Organization (WTO), the global merchandise trade volume is expected to increase to 3.2 per cent in 2024, after emerging from the COVID pandemic and the Ukraine War. The exports and imports in the Asian market are expected to be 4.7 per cent and 5.2 per cent. In India, the monthly exports and imports are around $50 billion.
In addition, the company is currently focused on talent acquisition and upskilling. They are also planning to expand into new markets, including Southeast Asia, in the next quarter. “In the next quarter, we are deciding to expand to new markets, including Southeast Asia,” said Kulkarni.
Founded in 2016, Cogoport is a platform for importers, exporters, and freight forwarders and has a global presence spanning India, the Netherlands, Thailand, Vietnam, and Indonesia. In 2022, Tiger Global Management invested $50 million in a Series B funding round.
Revenue outlook
The company reported a topline of ₹1,200 crore last year, and given the slowdown in global free trade due to macroeconomic headwinds, “our plan to grow faster than what we did in the previous years’ took a hit. But we expect that after this financial year, we’ll see some positive trends, and we have already started seeing improvement in the USA market,” he noted.
Further, for the last three years, it has claimed to be EBITDA-positive. “As we move forward, we aim to maintain profitability and are investing more in ourselves. So, while this year is slightly difficult, we have set ourselves up and expect to be PBT-positive.