Who is Cogoport?
Cogoport is a digital freight logistics startup backed by Accel Partners. The company two years old having been established in 2016. It works toward providing customer-focused end to end global digital freight solutions. They cover warehouse to warehouse transportation solutions for importers and exporters. In the near future, the company is working on building a pan India presence.
Accel partners invested Rs. 50 crore in Cogoport earlier this year. The amount has been invested for their development and global expansion. This deal is one of India’s biggest deals in the digital freight and logistics startup space.
What is a digital freight corridor?
The company is now working on establishing an e-corridor to enable Indian traders to connect with European markets using the Netherlands as their getaway. They are working on creating a smooth passage through the Netherlands using technology to make the entire process hassle-free.
The method of creating a digital corridor requires a signed Letter of Intent (LOI) between India and the ministry of infrastructure and water management of Netherlands. The agreement further needed to be signed with ministers of both countries and their representative’s from the city and port of Rotterdam, present.
Constant conversations about the project took place at an event in Mumbai earlier in the month. The Indo-Dutch Forum on Smart & Sustainable Port Led Development focused on the best practices to be followed while developing technologically savvy ports. The ports in question are supposed to be sustainable and eco-friendly as well.
With the investment, Cogoport is now looking to expand globally. They are planning on using their Netherlands office to serve a larger customer base by opening up the European market. This is another big step towards a hassle-free freight booking process using technology.
Simply put, the ease-of-doing-business in the Netherlands, along with its barrier-free surroundings, lax tax-structuring, speed and agility are some of the other factors that would work to their advantage.