An on­line mar­ket place for lo­gis­tics!

Web-based busi­ness plat­forms is the talk of the town. Start-ups like Go­comet are en­ter­ing into the mar­ket with fresh idea and ap­proach to make lo­gis­tics sim­pler, or atleast that is what they aim at!

Maritime Gateway - - Contents - by Sisir Pradhan

Start-ups like Go­comet are en­ter­ing into the mar­ket with fresh idea and ap­proach to make lo­gis­tics sim­pler, or atleast that is what they aim at!.

The mag­netism of In­dia’s on­line mar­ket­place is so much that even czar of brick and mor­tar stores Kishore Biyani who was some years ago an ar­dent critic of on­line sell­ing has soft­ened his stand on the po­ten­tial. There is rarely any sec­tor which has not been touched by web-based plat­form, and it was just a mat­ter of time till the fever got to the lo­gis­tics sec­tor. The lat­est en­trant is Go­comet, founded in 2016 by four en­gi­neers from Iit-delhi. The com­pany grabbed the head­lines for rais­ing mul­ti­ple rounds of fund­ing from PES even at time when fresh fund­ing have dried up.

The com­pany claims to be first-ofits-kind mar­ket­place for in­ter­na­tional freight ser­vices, of­fer­ing a plat­form for in­ter­na­tional B2B freight ser­vice providers and clients, to man­age ev­ery­thing from book­ing con­tain­ers to track- ing and Cus­tom clear­ances, all from a sin­gle dash­board. It also takes the re­spon­si­bil­ity to man­age all pa­per­work to en­sure seam­less end-to-end cargo de­liv­ery in­ter­na­tion­ally. It has no hid­den charges and a tech-en­abled sys­tem to move, track and man­age cargo.

What new it has!

High­light­ing its key dif­fer­en­tia­tor

Gau­tam Prem Jain, Di­rec­tor and Co­founder, Go­comet says the com­pany works on solv­ing two ma­jor dif­fi­cul­ties for exim, that are com­pet­i­tive price, and tech­nol­ogy to lever­age. It has got more than 200 freight for­warders on board to choose from by ship­pers, pro­vid­ing a com­par­i­son based com­pet­i­tive rate.

One of the rea­sons why lo­gis­tics sec­tor de­spite be­ing opened for 100 per cent FDI has very lim­ited en­try from out­siders is be­cause of the com­plex­ity of the supply chain model, and per­sonal and pro­fes­sional re­la­tions play a key role in seal­ing a deal. How­ever, Jain claims that the mar­ket re­ac­tion has been very pos­i­tive, and a ma­jor rea­son was the plat­form helps freight for­warders in get­ting new busi­ness, apart from an ar­ray of ser­vices with vary­ing costs to its clients. Mul­ti­ple ship­ping lines are also listed on the web­site priced as per the rates of the for­warders pro­vid­ing them, and ship­pers can view them in real time, and can ne­go­ti­ate fur­ther and cre­ate auc­tions, and once sat­is­fied, the ship­ment can be booked di­rectly.

Time & cost ben­e­fit

The plat­form claims to help ship­pers save costs by em­pow­er­ing them to ne­go­ti­ate dy­nam­i­cally with a larger pool of for­warders. More­over, it saves time by cre­at­ing RFQS, com­par­ing quo­ta­tions, and book­ing ship­ments. Au­to­matic ne­go­ti­a­tion comes into ef­fect due to re­verse auc­tion, which re­duces effort. The client also gets a wider range of ser­vices to choose from, in terms of de­ten­tion free times, tran­sit times, and bet­ter rout­ing op­tions.

Part­ner­ship model

The ser­vice providers sub­mit their quo­ta­tions and ser­vice lev­els on the Web plat­form which can be re­viewed by ship­pers. After Go­comet en­ables a trans­ac­tion, the ser­vice providers take up the op­er­a­tional re­spon­si­bil­ity of the ship­ments. The on­line plat­form fa­cil­i­tates ba­sic ser­vice level agree­ments be­tween ship­pers and ser­vice providers, in a way that both of their in­ter­ests are pro­tected. “Most of the ser­vice providers on our plat­form are the ones re­ferred to us by our large cus­tomers. The list of ex­ist­ing cus­tomers of a lo­gis­tics ser­vice provider along with their re­li­a­bil­ity is ex­tremely im­por­tant fac­tor for choos­ing a part­ner,” ex­plains Jain.

In­vest­ment

The com­pany has ag­gre­gated an in­vest­ment of $300,000 from In­dia Quo­tient, An­gel in­vestor Ra­jul Garg, the founders of Black­buck, and oth­ers. The com­pany pri­mar­ily op­er­ates in the China-in­dia-gulf route, and the ge­o­graph­i­cal tar­get base is Ma­ha­rash­tra and Gu­jarat. The com­pany al­though claims to have the ca­pa­bil­ity to han­dle all types of prod­ucts, but its strength lie in deal­ing with plas­tics, engi­neer­ing goods and phar­ma­ceu­ti­cal prod­ucts, and it aims to ex­pand to other types of prod­ucts in these sec­tors in or­der to scale up.

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