COGOS Technologies, India’s fastest growing intra-city logistics player, delivered more than 10 million shipments into 300 cities in 2020. It also onboarded more than 6,000 drivers on its platform. The driver partners of COGOS drover 9 million+ kilometres in 2020.12.23
The company is targeting to onboard 100K truckers and a revenue growth 3X YoY by 2021 end. Its revenue grew 2x in 2020 vis-a-vis that of 2019, and is pegged to grow 2x in 2021 from the current number.
Prasad Sreeram, CEO and Founder of COGOS Technologies, said they, like all other companies, had to go through COVID turbulence. “However, we bounced back swiftly and have not only reached the pre-COVID levels, but instead doubled the business in 2020,” he shared. “All through the first quarter of FY2020, the volumes were down to 20 per cent across the segments with few of the segments at zero, the second quarter the volumes started to pick and we crossed the pre-COVID levels by the third quarter.”
Sreeram believes 2021 will be the year of digital evolution in logistics as the consumers and enterprises will be looking at tech for innovative solutions for reliability and profitability. “We have seen an increase in online adaption and options available for consumers from Milk to Automotive. The curtain between brick & mortar and e-commerce have faded and this, has hinted on an urgent need to build or adopt online delivery solutions,” he observed. “Tech platforms like COGOS are positioned to bring resource optimization, remote management, and elasticity to the industry.”
The company is building a large platform for truckers and customers to serve the challenging needs of intra-city delivery. It expanded to Western India with the entry in Maharashtra and Gujarat, along with Northern part of the country – Delhi, Haryana, and Uttar Pradesh. With presence in 21 states of India and network in 300+ cities, COGOS plans to focus on 100 smart cities and 400+ cities across the country by 2021. The company is also strongly focusing on EV initiative and evaluating all the options to create an ecosystem, and as such, plans to deploy about 1,000 vehicles in the coming 12 to 16 months. It has been working heavily on reducing carbon emissions and moving to a newer process of logistics.