GOLOG (GO LOGISTIC)
The First Intelligent Cold Chain Logistic
Within less than a year’s time of the Covid-19 pandemic, the logistics and courier services industry has experienced accelerated growth at a rate that has taken the industry by surprise. With this growth and expansion of this market segment, we see more and more entries into the market, competing for a slice of the pie using close to identical business models. It is GoLog’s mission to both disrupt and revolutionize this industry with what we know to be a game-changer: an intelligent cold chain logistic platform.
GoLog provides a cold chain logistic platform that streamlines the traditional approach to the cold chain supply chain. We apply a series of digital algorithms unique to our brand that enables us to calculate the delivery time of every product from pickup time, delivery duration, mileage and most importantly product freshness, allowing us to raise the efficiency of our supply chain to levels never before seen.
Our services integrate three key aspects that effectively allow us to serve in both B2B and B2C fronts: Technology, Technique and Infrastructure. Our Technology allows us to collect and leverage inventory big data such as pricing, categorization, packaging, volume and goods delivery lifespan. These data are then applied at our Technique stage where algorithms work to optimize delivery down to vehicle type, drops per route and equipment type. All of this is then neatly packaged into our infrastructure that allows drivers, vendors and customers to track, pickup and deliver at their own freedom.
Our services has been tried and tested through the pandemic as we experience a two-fold growth in revenue in the month of March 2020 with steady growth in following months. We are now still the only brand in the market that is first to achieve the following:
- A B2B2C model in the Cold Chain Logistics Platform, allowing us to reinvent this market and create a new segment of customers who will receive directly from their suppliers, cutting out the middle person.
- The ability to support any form of vehicle types in delivery, enabling us to effectively and efficiently deliver at any scale, speed or volume.
- We do not own any delivery vehicles or fleets of our own, effectively reducing our cost and increasing out shareholder’s returns.
These qualities are what make our cold chain logistics platform one that is miles ahead of our competitors in performance and invest-ability.
The traditional cold chain logistic model has always been plagued by the same set of problems from both the service provider and the user’s end. Business owners who utilizes any cold chain delivery services often pay a premium to ensure stocks arrive at their premises, this results in a higher cost in delivering product which lowers their own margins. Other problems include middleman incurring additional costs and issues with small volume stocks costing more than high volume ones. Last but not least, there is no guarantee that their product will even arrive fresh.
Service providers are not without their challenges as well. Most suffer from the pains of not having proper distribution hubs that streamline their system by enabling fleets to pickup and deliver from a singular checkpoint. Most operators also have the immense cost of maintaining their own fleet, which in turn increases the cost of their services. One of the biggest challenge faced by operators currently is the issue of efficiency where it is far too common for a single truck that is barely filled to be delivering, resulting in the issue known as Less-Than-Truckload shipment, one of the biggest plagues of current operators.
Our service is based on a tried and tested algorithm that allows us to solve all these problems and more. Our algorithm and service model enables us to tackle the existing problems of the traditional cold chain business model and advance the current state of the industry.
Delivery Hubs and Warehouses.
GoLog operates its own warehouses which allows goods and data to be centralized before being delivered. This stage is crucial to our service as it allows us to log in the data of every product that comes through our system and enables us to deliver the best in service time, while expanding the efficiency of our service through leveraging big data.
Using our program, we are able to maximize the delivery capacity of each truck that serves using our system. Our algorithms will pre-map routes for every load, taking into account the delivery time and product freshness upon arrival. This allows every truck to take on maximum capacity and deliver with maximum efficiency via pre-planned routes to multiple drop-offs.
GoLog Cold Hubs
By partnering with hotels or with premises with storage facilities, we are able to ensure product delivery and fresh by setting up GoLog Cold Hubs. In the case where customers are not able to receive their delivery, products will the delivered to these Cold Hub partners where clients can then pickup at a later time. This process is also reversible where deliveries can be dropped by vendors at cold hubs and will be received by GoLog fleet members to be delivered.
Assured Product Freshness
Our algorithm takes into the account the type of food product that is being delivered and enables us to optimize delivery time and distance to ensure that the product is at peak freshness upon delivery.
Our secret sauce to success that sets us apart from the others currently in the industry is our unique algorithm and use of big data. Our algorithm allows our services to be optimized and made more efficient than any other currently in the cold chain logistics market. Similarly, the use of big data in our database will continuously improve our efficiency as a cold chain platform when we onboard more products and customers. The very same algorithm and optimization also allows us to ensure our cold chain platform provides the best in service when it comes to product freshness.
Our solutions are offered in both B2B and B2C models. We serve businesses which require frozen, chilled or fresh foods delivered to their premises such as restaurants, grocers and markets who receive their goods either from farms, fisheries or straight from the port. In the B2C model, businesses such as e-commerce platforms and online-retailers utilize our fleets to deliver their goods to end-users.
Our revenue streams are three-fold as per the following categories:
- On demand deliveries
- A same-day delivery system where we charge by the kilometer in distance of delivery
- Next day deliveries
- Delivery over a single day where we charge by weight of goods delivered.
- Distributor deliveries
- Long-term engagement relationships where bulk deliveries are made on a B2B scale. This engagement streams revenue on a monthly retainer basis.
Our target market is predominantly businesses who require goods delivered fresh, frozen or chilled. With the agricultural industry being one of the prime markets with over half a million farmers within Malaysia alone, adding up to an industry that is worth 28 billion ringgit and growing. Fisheries are also one of our primary targets where quality control is key. Food production and manufacturers are also a prime target for us, a market worth 10 billion ringgit with an average of 6% annual growth.
Currently in the market, 45% of these targets of ours outsource their logistic problems to traditional logistic solutions with the other 55% relying on their own fleets. This is an industry that at this point has yet to experience a digital revolution and we are looking to disrupt it with a game-changing solution.
Since our forming in 2017, our revenue has experienced consistent year on year growth. Beginning with a humble eight thousand odd in revenue in 2017 and in 2018 just shy of eighty thousand, we then made a leap in revenue in 2019 where we achieved close to half a million in revenue.
At the start of 2020, we began at a low but steady fifty thousand in revenue but in the course of the pandemic our service demands have increased drastically and have raised our monthly revenues to above a hundred fifty thousand per month, achieving our 1.9 million revenue in 2020.
Our forecast tells us that we will be able to achieve in 2021, 11 million in revenue due to the completion of our Technology, Technique and Infrastructure system. Followed by a three-fold increase in 2022, reeling in revenue worth 30 million ringgit.
Key competitors in the cold chain logistic market are Bungkus It, Delifresh, LALAMOVE, Zoom, ZEPTO and many more. Most if not all of our competitors are still considered pioneers in this industry and have a firm hold on the market. However, we must highlight once again that this industry is one that is a hundred percent void of a complete digital solution incorporating big data and algorithm. Our solution will change the way deliveries are made from the smaller B2C scale to the bulk scale of the B2B clients.
Over the past few years of operations, we have identified key-players in the industry and have since included them into our team of strategic partners and logistical partners. Fully fishery, Ezylife, Kami Food and Dulai Fruits & Durian Hill are four of our key business strategic partners with key members of Kami Food and Dulai Fruits & Durian Hill execs being also our shareholders and business advisors.
The following are also our business partners who have been vital in helping us secure a leading edge in our playing field.
- Fruits king
- Mr farmer
- Just Lorry
- SK cold chain storage
- Forever fresh cold technologies
- Avision cold trans
- Success frozen
- Gerimis baiduri
- Yamato transport
- Easy parcel
Founder / Group CEO
Malaysia Top 20 Young Entrepreneur 2019
Co-Founder / CTO
Microsoft Hackathon Champion 2015
Advisor / Shareholder
Director of Kami Food & Durian Hill
Advisor / Shareholder
Managing Director of Dulai Fruit & Durian Hill
Our brand has received extensive coverage and recognition as a revolutionary industry driver that is primed to change a crippled industry hindered by a lack of tech. We have been featured by local entrepreneur platform BEAMSTART who has referenced us as the answer to a billion-dollar problem in the logistic industry. Other mainstream media that has also featured and recognized our efforts are The Edge Market Place, Bernama, The Star and Vulcan Post.
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Investors can now own shares in this logistics firm that's growing over 5X each year
Asia's cold-chain logistics industry is expected to become a $162 billion industry by 2026, and Malaysian technology firm GoLog is at the forefront of it.
The firm, which expects to draw in over RM11 million in turnover this year, has just launched an equity crowdfunding (ECF) campaign to fundraise for accelerated growth.
Through the ECF campaign, GoLog will be able to officially raise funds from the public, allowing anyone to become shareholders in the company.
About GoLog's equity crowdfunding campaign.
GoLog is transforming the cold-chain logistics industry
Unlike traditional logistics, cold-chain logistics caters to deliveries that are temperature sensitive — where products need to be kept in low temperature environments and delivered quickly to avoid damage.
In the past, the industry has been plagued by many problems — damaged goods, high costs, long waiting times, human errors, interrupted services, and plenty more.
To solve these challenges, GoLog provides a comprehensive solution powered by artificial intelligence and machine learning that automatically matches sellers with logistics service providers — ultimately ensuring products are delivered fresh, fast, and at lower costs than other services in the market.
This has not only been a game-changer in the industry, but boosting GoLog's revenues from a mere RM50k/year back in 2018 to over RM1.9 million in 2020.
Some of the GoLog team members.
GoLog plans to go public within the next 3 years
With new funds from the ECF campaign, GoLog aims to strengthen their delivery fleets and set up cold-chain hubs across the country, all while investing heavily in technology allowing them to accommodate a higher volume of customers.
The goal is to ultimately become an end-to-end cold-chain logistics service provider that is highly efficient, affordable, and accessible to anyone.
In 2021, GoLog expects to grow revenues by over 10x as the market recovers from the global pandemic, and eventually raise a Series A round by year end.
According to GoLog founder, Ivan Chin, the company aims to go public within the next 3 years, and already has the participation of several strategic investors from large corporations.
GoLog founder, Ivan Chin.
GoLog's Equity Crowdfunding Campaign goes live soon
GoLog is currently raising up to RM4 million (~USD $1 million) via a regulated equity crowdfunding platform, with the campaign expected to go live in March 2021.
"With the advent of technology, we believe the cold-chain logistics space is a multi-billion dollar market that is ripe for disruption. GoLog is at the forefront of this space, and looks towards becoming a major player in the coming years. With this ECF campaign, we'd love to welcome more strategic partners to be part of our journey, making it both an impactful and rewarding one", mentioned Ivan Chin, CEO of GoLog
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