iKargos.com Doubles Revenue to Rs100 Crore, Defies Funding Winter with Profitable Growth

PNN

New Delhi [India], June 6: Amidst a challenging funding climate for startups, iKargos.com, a largely bootstrapped digital logistics platform, has achieved a significant milestone, doubling its revenue from Rs50 crore last fiscal to Rs100 crore this year. Founded in 2020 by Rekha Atri, iKargos.com set out to digitize international logistics. Today, it stands as a comprehensive cross-border supply chain platform, streamlining global shipping with transparency and cost-effectiveness.

"Logistics is notoriously complex, often involving over 20 entities just to move a single shipment," says Rekha Atri. "For frequent importers and exporters, managing multiple shipments can be overwhelming. Our platform consolidates everything into one user-friendly dashboard, allowing customers to oversee their entire supply chain online. As the only fully integrated provider offering all services in-house, we deliver a seamless, end-to-end experience."

Sustained, Profitable Growth

iKargos.com's growth story is remarkable, not only has it matched the pace of well-funded startups, but it has done so profitably. The company has grown at an impressive 300% annually for five consecutive years, breaking even in its second year and maintaining profitability ever since. After an initial seed round from GAIL, iKargos.com has operated without further external funding, relying on operational excellence and technology-driven solutions.

Co-founder Prashant Dwivedi, an IIM Calcutta alumnus and logistics PhD scholar, is optimistic about the future. "These numbers are just the beginning. In a globalized world, logistics is the backbone of every business, whether it's Amazon or Zomato, their edge is swift delivery. As price differences shrink, logistics becomes the key differentiator. Take Apple's air-shipping of iPhones to the US to avoid tariffs, such moves save millions. That's the power of logistics."

He adds, "The global logistics industry was valued at $10.5 trillion in 2024 and is projected to reach $15.8 trillion by 2030. As businesses move online, logistics enables seamless delivery and drives growth. Giants like Amazon and Walmart are investing heavily in logistics, and the sector is poised for phenomenal expansion."

This year, iKargos.com introduced Strategic Sourcing as a new service line, tapping into its deep expertise in the EXIM market. "We're seeing strong traction in this vertical and believe it holds immense potential," Prashant notes.

Riding the Wave of Government Reforms

India's logistics sector is undergoing transformation, spurred by government initiatives like the National Logistics Policy (NLP), launched by Prime Minister Narendra Modi in September 2022. The NLP aims to reduce logistics costs from 13-14% to global standards, enhancing the competitiveness of Indian products domestically and internationally. The policy targets a reduction in logistics costs to 8% of GDP by 2030.

The Indian logistics market is projected to reach $215 billion in the next two years, up from $160 billion, with a CAGR of 10.5% through 2025 (ICRA). The sector employs over 22 million people, a number expected to grow by 5% annually with ongoing skill development initiatives. iKargos.com is well-positioned to benefit from this policy push and the sector's robust growth trajectory.

Expanding Market Presence

With offices at all major Indian ports, 18+ domestic locations, and an international base in the UAE, iKargos.com boasts a vast network. Its agent partnerships enable delivery to 158 countries, including the USA, Europe, Asia, and Africa. The company serves over 500 clients, ranging from industry leaders to emerging businesses - and handles more than 3,000 commodities, from food and electronics to apparel and packaging. Even established international logistics firms are partnering with iKargos.com to leverage its seamless digital infrastructure.

Comprehensive Service Portfolio

iKargos.com offers a full suite of services: Strategic Sourcing, Air and Sea Freight, Customs Clearance, HS Code Search, Certification, Product Compliance, Warehousing, Inland Transportation, First and Last Mile Delivery, Cargo Insurance, Online Tracking, Supply Chain Consulting, Reporting & Analytics, and Survey & Inspection. This all-in-one approach allows clients to manage their entire cross-border logistics process effortlessly.

Investor Confidence

Serial entrepreneur and early investor Praveen Sinha expresses strong confidence in the company's trajectory: "When I backed iKargos.com, I believed in the founders and the industry's potential. Prashant is a visionary with deep domain expertise. I wouldn't be surprised if iKargos.com becomes a unicorn in the coming years."

About iKargos.com

Founded in 2020, iKargos.com is a next-generation LogTech company revolutionizing cross-border logistics with technology, transparency, and a customer-first approach. With a growing global footprint and a robust, integrated service model, iKargos.com is redefining how businesses manage international supply chains.

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