- The company registered 150% revenue growth in the festive season of 2020
- The company onboarded 6000+ drivers in 2020
India: COGOS Technologies, India’s fastest growing intra-city logistics player recently announced its annual report for 2020. The company delivered more than 10 million shipments into 300 cities in 2020 and onboarded 6000+ drivers on their platform, it said. The driver partners of COGOS drove 9 million+ kilometers in 2020. The company is targeting to onboard 100K truckers and a revenue growth of 3X YoY by the end of 2021. The company’s revenue grew 2x in 2020 vis-a-vis that of 2019 and is pegged to grow 2x in 2021 from the current number.
COGOS is building a large platform for truckers and customers to serve the challenging needs of intra-city delivery. The company expanded to Western India with the entry in Maharashtra and Gujarat, along with Northern part of the country – Delhi, Haryana, and Uttar Pradesh. They also strengthened their existing presence in the southern part especially in Telangana, Andhra Pradesh, Karnataka, and Tamil Nadu; Odisha, Chattisgarh, Jharkhand, Bihar, West Bengal in East and Sikkim, Assam, Meghalaya, Arunachal Pradesh, Manipur, Tripura, Mizoram in the North-east. The company now has a presence in 21 states of India, with a network in 300+ cities and plans to focus on 100 Smart cities and 400+ cities across the country by 2021.
COGOS registered a drop of 80% in the volumes at the start of the lockdown but the business has taken a sharp uptick with the ease in lockdown crossing pre-COVID level in the 3rd quarter. They are currently serving 2X of the volumes vis-a-vis pre-COVID numbers.
The company is also strongly focusing on EV initiative and evaluating all the options to create an ecosystem and plans to deploy about 1000 vehicles in the coming 12-16 months. The company has been working heavily on reducing carbon emissions and moving to a newer process of logistics.
Commenting on their performance, Mr. Prasad Sreeram, CEO and Founder, COGOS Technologies shared, “COGOS 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. All through the first quarter of FY2020, the volumes were down to 20% 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.”
“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’ve 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. Tech platforms like COGOS are positioned to bring resource optimization, remote management, and elasticity to the industry”, he further added.