Cargofirst
Logi-Tech: Data-driven and AI-based quality assurance inspection service company.
Reports and Documents
₹3.50 Cr
Total Round Size
CCPS
Mode
₹ 5 Lacs or USD equivalent.
Minimum Ticket Size
₹25 Cr (Pre-money)
Previous Rounds Details
Currently boot-strapped. Raising the first round from investors.
About the Opportunity
Company Overview
Cargofirst is a data-driven and AI-based quality assurance inspection service company that focuses on the import and export of agri-related commodities. Their mission is to eliminate misrepresented product quality in global agri-trade by providing transparent and reliable inspection services.They offer physical inspections, sampling, and testing based on ISO standards. Their AI-powered scanner delivers quality assessments with 90% accuracy, enabling digital visibility and real-time tracking of cargo.Since its inception, Cargofirst has inspected over 2 lakh tons of goods valued at $77 million and achieved $167,000 in revenue for FY 2023-24.The company aims for sales revenue of INR 5.5 Cr and scalability to INR 10 Cr for FY 2024-25. Their global presence includes Vietnam, Singapore, China, India, and Africa.
Business Model
Cargofirst operates a B2B model targeting exporters and importers in the agri sector. Their revenue model is based on order contracts with a cycle of 15-20 days. They also provide marketplace and agri market analysis for global traders.
Team
● Vinay H: Co-founder, Director & CEO with over 5 years in the agri sector, focusing on sales and execution.
● Rohit S: Co-founder, CFO & CSO with over 6 years in finance and business strategy, contributing to marketing and tech, and enhancing customer acquisition and revenue.
● Madhu GN: Has over 2 decades of experience in technology investment and business strategy across industries.
● Sriram Sundaravadanan (SAN Angels), specializing in finance and corporate growth strategies.
Current Business / Market Opportunities / Traction
The total available market for rice and maize is valued at $165 billion, with the overall agri commodities market at $2 trillion. The serviceable market is $7.4 billion, with an obtainable market of $120 million.Cargofirst has a pipeline of orders amounting to 37,500 MT per month, valued at $13.1 million, and aims for $84,000 in monthly revenue. They operate in over 7 countries and plan to expand their market share, currently holding 1.5% of Vietnam’s rice market.With a customer retention rate of 95%, Cargofirst has significant traction in both Indian and global markets. They have collaborated with Agrifields, Cargill and Adani, among others, and maintain a gross margin of 55%.
Summary
Total Round Size: INR 3.5 CrMinimum Ticket Size: INR 5LValuation: INR 25 Cr (pre-money)Mode (CCPS / Equity): CCPS