Skip to content
  • About Us
  • Advertise
  • Contact Us
  • DMCA
  • Privacy Policy
  • Follow on Google News
The Medium News

The Medium News

  • Home
  • India
    • National
    • Regional News
  • Business
  • Education
  • LifeStyle
    • Fashion & Beauty
    • Food
    • Health & Fitness
    • Travel
  • Tech
    • Apps News
    • Gadgets
  • Automobiles
  • Sports
  • Entertainment
  • More
    • Agriculture
    • astrology
    • Environment
    • Finance/Money
    • Religion
    • Science
    • Social Work
    • Wow Personality
  • Toggle search form

iKargos.com expands its service offerings with new acquisition

Posted on September 28, 2022 By The Medium News No Comments on iKargos.com expands its service offerings with new acquisition

iKargos.com has been growing phenomenally post its initial fund raise. The company was started 2 years ago in May 2020 by Rekha Atri, with the vision of digitizing international logistics. iKargos.com is a full-stack cross-border digital supply chain platform that simplifies international logistics for the end customer by providing a transparent and cost-effective supply chain.

Rekha explains, “Logistics has always been a tedious and manual process. There are multiple stakeholders involved in moving a shipment internationally. One has to coordinate with various Shippers, Shipping lines, Customs Brokers, CFSs, Transporters etc. to get a single shipment across international borders. For most regular importers and exporters, there are multiple shipments going on at the same time. It is quite a nightmare.  We decided to integrate the entire process and give the customer one single dashboard.” She continues, “Our customers can manage their entire supply chain by simply logging online to our website. We are also the only integrated player in the industry to offer all related services under one roof. Since everything related to the shipments is done in-house, we are able to offer our customers a seamless experience.”

Services offered by iKargos.com:

  • Air and Sea Freight
  • HS code Search
  • Certification
  • Product Compliance
  • Custom Clearance
  • Warehousing
  • Inland Transportation
  • First and Last mile service
  • Cargo Insurance
  • Online Tracking of Cargo
  • Supply Chain Consulting
  • Reports and Analytics
  • Survey and Inspection

Acquisition

iKargos has recently acquired majority stake in Navbharat Consolidation Pvt. Ltd. a forwarder and Customs broker. Speaking about the acquisition Rekha mentions, “Navbharat is a strategic acquisition that helps us leap ahead in the business by many years. Navbharat is an established and reputed brand in the country. With this acquisition the owner of Navbharat, Mr. Prashant Dwivedi, joins iKargos as a Co-founder. He has extensive experience in the logistics industry and is a well-known expert. He is a Computer Engineer, MBA (IIM Calcutta) and a Lawyer. The industry expertise and connects that Prashant  brings with him are invaluable. Further, iKargos is also able to expand to 12 locations in one go, thanks to the country-wide presence that Navbharat has.”

Growth

The growth in the business has been meteoric. Rekha is gung-ho about the future. “We are moving at 5x revenues as compared to last year. With Navbharat by our side, we will speed up even further. The market is huge and we can go on at this pace for a few decades. The logistics growth story is just beginning.”

International Expansion

iKargos has expanded to UAE by setting up its subsidiary iKargos Logistics FZE. The subsidiary will help setup the UAE-India tradelane for iKargos. Recently, the two countries have signed a Comprehensive Economic Partnership Agreement (CEPA) that allows duty concessions to numerous products on both sides.

Overall, India will benefit from preferential market access provided by the UAE on over 97% of its tariff lines which account for 99% of Indian exports to the UAE in value terms particularly from labour-intensive sectors such as Gems and Jewellery, Textiles, leather, footwear, sports goods, plastics, furniture, agricultural and wood products, engineering products, pharmaceuticals, medical devices, and Automobiles. As regards trade in services, Indian service providers will have enhanced access to around 111 sub-sectors from the 11 broad service sectors.

CEPA is expected to increase the total value of bilateral trade in goods to over US$100 billion and trade in services to over US$ 15 billion within five years.

Investors Feedback

Early backer Praveen Sinha is bullish on iKargos. He states, “I was one of the earliest investors in iKargos. They have already come a long way in just over 2 years. The passion and vision of the management is contagious. Navbharat and iKargos joining hands makes this a perfect combination of stability and aggression. I am sure iKargos will reap excellent rewards for its investors and customers.

Business Tags:digital supply chain platform, iKargos.com, initial fund raise, international logistics, Rekha Atri

Post navigation

Previous Post: 5 emerging leaders in the fintech and lending space in India
Next Post: 2nd Annual Convocation of SRM University Delhi-NCR Sonepat Conducted at JLNS Auditorium

More Related Articles

Jainex Stationery India: Changing the stationery market with affordably excellent products Business
How innovation will drive growth and create new opportunities in the Indian economy Business
PharmaLytica 2023 Returns to Hyderabad: Connecting, Innovating and Ideating for the Future of the Pharma Industry Business
RLG Systems India Announces Launch of Eco-friendly Play Area Constructed from Tyres in association with Noida Authority Business
In a journey of healing and meditation, Anant Oorja Safar bags the ‘Most Promising Spiritual Organization Award’ Business
Refer and Earn with FairPlay: Enjoy a 15% Referral Bonus Business

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest News

  • Chandresh Ajay Pandey’s Eklavya EdTech: Empowering Education with Innovation
  • Pure Derma Skincare Brand: Revolutionizing the Industry with Chandresh Ajay Pandey and Akash Gatla
  • Stay Ahead of the Game with FairPlay’s Real-Time Updates and Live Betting Options
  • The Remarkable Journey of Pawan Joshi: A Visionary Social Worker from Sikar, Rajasthan
  • The 7 inspiring visionaries who inspired the world ft INKZOID FOUNDATION

Categories

  • Agriculture
  • Apps News
  • astrology
  • Automobiles
  • Business
  • Education
  • Entertainment
  • Environment
  • Fashion & Beauty
  • Finance/Money
  • Food
  • Gadgets
  • Health & Fitness
  • LifeStyle
  • National
  • Photography
  • Politics
  • Press Release
  • Regional News
  • Religion
  • Science
  • Social Work
  • Sports
  • Tech
  • Travel
  • Uncategorized
  • World
  • Wow Personality

Recent Posts

  • World Peace is Need of the Hour: Said – Dr. RajaRao Pagidipalli & Prof. Dr VJE Caroline in World Peace Summit 2023
  • Indian Sikh Doctor Honoured by Asian American & Pacific Islander Legislative Caucus
  • Delhi Times Fashion Week: Blingy Runway Dazzles Fashion World
  • Jainex Stationery India: Changing the stationery market with affordably excellent products
  • Chandresh Ajay Pandey’s Eklavya EdTech: Empowering Education with Innovation

Ace Entrepreneur actor artificial intelligence author Bangalore Bengaluru Blockchain technology blogger business Content Creator COVID-19 Cryptocurrency Delhi digital marketing Dr. Jitendra Matlani Dr. Sandeep Marwah DST Dubai education entrepreneur Fairplay Gujarat Gurugram health Hyderabad IIT Delhi Indian Institute of Science Indian Institute of Technology influencer Influencerquipo K Raheja Corp Homes model Mumbai music Music Industry NFT photography Pune real estate Singer Social Activist Social media sports Surat TTK Prestige

Copyright © 2023 The Medium News.

Powered by PressBook Blog WordPress theme