B2B start-up turns India’s fastest-growing medical procurement company with a ten-fold increase in revenues, aggressive hiring, and scaling up plans
KOCHI: KOGLAND, a leading e-marketplace startup which connects healthcare providers and suppliers digitally with simplified procurement of bulk medical supplies across India, increased its financial earnings more than ten times in a year alone. The medical marketplace company promotes alliances with top and cutting-edge medical technology partners to curate an assortment of high-quality medical accessories and advanced medical equipment across a wide range of selections, prices, and convenience. The online platform is a one-stop surgical store for dental clinics, small-medium hospitals, clinics, and other healthcare providers.
“When the country was reeling under the unprecedented Covid-19 pandemic, the KOGLAND marketplace went digital in a massive way to ensure safe and timely procurement of medical supplies through contactless deliveries. The team bestowed round-the-clock service with prompt shipments and went the extra mile to help hospitals and clinics avoid stockout and fight the crisis. This helped the B 2 B startup to generate revenue above ten times is a short span of time,” said Varghese Samuel, CEO and Managing Director of KOGLAND Commerce Pvt Ltd.
The company was launched in 2015 in Kochi Infopark as a sister concern of Fingent Technologies, a leading New York-based IT company. The online marketplace helps hospitals and medical care facilities to overcome the challenges faced by them in meeting procurement, price volatility, availability, product selection, and its logistics. KOGLAND, with it’s easy to use online platform enables a hassle-free shopping experience for customers country wide.
KOGLAND also encourages vendors to list their products on the marketplace for free, fostering a better online presence for their brands and products, thus pushing sales across the entire country rather than being confined to a small geographical area. With the rising growth in business, KOGLAND upgraded the platform capabilities with enhanced features to provide an elevated user experience and streamlined inventory-sales management to support an infinite number of customers and vendors.
“Although medical technology has grown leaps and bounds in providing medical treatments, supply chain and procurement is still in the nascent stage, very chaotic and time-consuming with numerous parties in between. Also, spurious, and counterfeit products abound in the market. KOGLAND seeks to eliminate this problem by doing away with middlemen, old traditional processes and unwanted meetings, pioneering a new way of buying for the B2B healthcare market.” – Samuel said.
Today, the start-up procurement company has collaborated with more than 50 vendors to facilitate a diverse range of sophisticated medical products. On getting authorized accounts, medical practitioners, medical equipment dealers, distributors, pharmacies, surgeons, clinicians, doctors, technicians, and nurses can purchase any medical equipment, devices, consumables, or accessories from the KOGLAND online store via multiple payment options. Additionally, they can convert their purchases into interest fee EMIs without any hassle after the online purchase.
“The KOGLAND team has built an exceptional business strategy that is at the forefront of B2B healthcare marketplaces and is poised for continued & rapid expansion with the tremendous shift in the purchase patterns of the healthcare sector” says Abraham Isaac, Vice President- Sales and Marketing, KOGLAND.
KOGLAND plans to span its employee count across verticals – technology, sales, marketing, and strategy. KOGLAND’s swift marketplace expertise has been a key ingredient in making it to the B2B success chart, including a quick ramp-up to serve medical professionals during the COVID-19 crisis.
Maintaining quality, trust, and building people are the core pillars and the key to attracting and retaining more customers for this start-up.
With healthcare companies flocking to B2B online marketplaces, KOGLAND plans to compound investments in technology, infrastructure, partnerships, and team. The near-term goal for the growing B2B procurement company is to focus on acquiring more potential customers and trafficking online conversions.
KOGLAND’s vision is to not just modernize the healthcare sector but also pave the way for a brighter future where healthcare is democratized for all.
(Economy India)
