COGOS acquires logistics startup Porter’s FMCG arm; plans to expand to 300 cities
- ByStartupStory | July 27, 2022
COGOS Technologies, located in Bengaluru, has acquired logistics startup Porter’s FMCG modern trade and commerce for an undisclosed sum. According to the company, the purchase would improve COGOS’ platform and allow it to satisfy the need for municipal logistics. Porter’s purchased subsidiary’s personnel, client base, and distributors will be transferred to COGOS as part of the transaction.
According to a COGOS representative, the purchase would enable COGOS to broaden its FMCG logistics business to additional locations. It already has a foothold in Tier-2 and Tier-3 cities, where it assists rapid commerce layers in delivering on-time deliveries. According to the announcement, Porter has sold its FMCG contemporary trade business to synchronize with its business goals and reinforce its focus on on-demand services and technology enhancement.
“Using this investment, we hope to organize and optimize the sector’s supply chain with our cutting-edge digital platform & advanced delivery system,” stated Prasad Sreeram, co-founder & CEO of COGOS. COGOS, which was founded in 2016, plans to expand its inventory to 50K cars to satisfy current demand. It will manage FMCG vertical activities in Delhi, Mumbai, Bengaluru, Pune, Chennai, Kolkata, and major cities following this purchase.
COGOS will also broaden its FMCG activities to over 300 places where it currently has a presence. “During the COVID epidemic, we established a variety of businesses, including contemporary trading.” We chose to focus on our core competency and formed a partnership with COGOS Technologies to ensure the continuity of the contemporary trade company. “We are certain that the firm can rise to new heights with COGOS’ strengths & expertise in this market,” remarked Pankaj Shroff, CFO of Porter.
Porter, founded in 2014 by Pranav Goel, Uttam Digga, and Vikas Chaudhary, is believed to have served more than 80 lakh clients across 15 Indian cities. Porter claims to have developed several verticals, along with an on-demand market for LCVs and motorcycles, Porter for Enterprise, and Packers & Movers. It is presently attempting to broaden its customer base by developing innovative approaches for these industry sectors. It also intends to grow to 35 Tier 2 and Tier 3 cities in India by 2023.
Follow Startup Story
Related Posts
