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Accel Partners invests Rs 40 cr in online logistics start-up Cogoport

Press Trust of India  |  New Delhi 

firm Partners has invested about Rs 40 crore in firm , according to sources.

Cogoport, in a statement, said it has secured Series A funding round from Partners but did not disclose the amount it has raised.

"The fund will enable to invest in developing new products and fuel business growth by expanding globally and increase its footprint in domestic market," the statement said.

is an currently offering price discovery and booking using a

Incorporated in May 2016, Cogoport provides end-to-end global for importers and exporters. The business model is built around principles of aggregation and marketplace.

Over the last year, we have been able to validate our firm belief that technology can transform the erstwhile frameworks of freight industry which are opaque by design and inefficiency in the system," Cogoport founder and said.

Accel's Shekhar Kirani said: "The timing is right for disruptors in global logistics and freight category, as the market is massive and growing."

Accel, a leading firm, has invested in companies like BookMyShow, Flipkart, Housing-PropTiger, Myntra, Ola, and

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, April 17 2018. 11:20 IST