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Accel Partners-backed Cogoport to set up digital freight corridor in Netherlands

Cogoport recently raised Rs 50 crore (approx) for its product development and global expansion. It was one of the first major deals in India.

, ET Bureau|
Last Updated: May 23, 2018, 07.58 PM IST
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Digital freight logistic startup Cogoport recently raised Rs 50 crore (approx) for its product development and global expansion. It was one of the first major deals in India.
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Ahmedabad: Accel Partners backed Cogoport, a digital freight logistic start-up, to establish digital freight corridor of the world to enable Indian traders to connect to the European market using Netherlands as gateway. Cogoport signed a letter of intent (LOI) with the minister of infrastructure and water management of Netherlands.

The agreement was signed on Wednesday and in the presence of ministers of both countries as well as representatives from the city and port of Rotterdam. The project was previously discussed at a Mumbai event called the Indo-Dutch Forum on Smart & Sustainable Port Led Development. The event centred around best practices in developing ports to be technologically savvy as well as sustainable and eco-friendly at the same time.

Recently, Cogoport, raised approximately Rs 50 crore from Accel Partners for its product development and global expansion. It was one of the first major deals in India’s nascent digital freight logistic startup space.

As per the Cogoport, it now set to expand globally through their office in The Netherlands and will look to serve a larger set of customers in the European market as well. This would be another milestone in Cogoport’s bid to make the freight booking process hassle free by leveraging technology.

The startup sees tremendous value in entering the Netherlands and setting up a base in the maritime capital of Europe- Rotterdam. The ease-of-doing-business in the Netherlands coupled with its barrier-free environment, friendly tax-structuring, speed and agility are some of the other factors behind this view.

Cogoport also perceives great synergy between its vision and Netherlands’ initiatives with the country being heavily dependent on logistics and rapidly embracing digital technologies. Moreover, The Netherlands’ government is known to be highly receptive of technology and startups.

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