Express Computer
Home  »  News  »  COGOS raises US$ 2 million in Pre-Series A funding

COGOS raises US$ 2 million in Pre-Series A funding

0 158

COGOS Technologies Pvt. Ltd, the Bangalore based enterprise logistics company, has announced that it has raised a total of  US$ two million in Pre-Series A funding. The round was led by Dubai based Global Shipping and Logistics player Transworld Group and New York based deep tech fund Worldquant Ventures and more. Ritesh S. Ramakrishnan of Transworld Group will be joining the COGOS board.

With this fundraising, COGOS plans to expand its business to the internal market and further  strengthen and develop its technology platform. Cogos aims to further upgrade its model and expand the business both in India and overseas – providing customised tech solutions to its partners. The logistic startup envisions itself as a city logistic leader and sets golden standards for the industry.

As per research reports, the estimated size of the Indian logistics market is pegged at US$ 215 billion and is growing at a CAGR of 10.5 per cent , contributing majorly to the growing GDP of the country. With rural India opening to the concept of e-commerce, it will be crucial for the logistic business players to address upcoming challenges and ensure building an infrastructure for the business that can expand even to the remote areas.

Further elaborating on the funding, Prasad Sreeram, Co – founder and CEO, COGOS said, “ COGOS was founded to integrate the fragmented and the unorganized logistic market. We are very happy to have global logistic players and Deeptech VCs believing in the potential of COGOS Platform. Going forward, we will continue to provide customised solutions to our partners and push ourselves to further provide the best experience to  the clients with our technology driven platform.”

Chetan Mehta, CEO, Wami Capital – Single Family Office of Transworld Group said, “We are very bullish on the India growth story which is led by both consumption and innovation. Logistics in India is a US$ 300+ bn market and is highly fragmented and unorganised. We see a huge growth opportunity in the Indian logistics’ space especially in the Tier 3 and 4 cities which are underserved today. Technology is changing the way logistics services are being consumed and we are very excited to partner with Cogos to provide technology enabled logistics services to clients and build a scalable and sustainable global business.”

Steven Lau, MD, Worldquant Ventures commnented, “We see COGOS evolving as a major player in the first, mid and last mile delivery for enterprises in India.  Their AI logistics platform will also have significant ESG impact as they integrate EV adoption into the delivery process.  We are very excited to be involved early and help them grow into a Global platform.”

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.

LIVE Webinar

Digitize your HR practice with extensions to success factors

Join us for a virtual meeting on how organizations can use these extensions to not just provide a better experience to its’ employees, but also to significantly improve the efficiency of the HR processes
REGISTER NOW 

Stay updated with News, Trending Stories & Conferences with Express Computer
Follow us on Linkedin
India's Leading e-Governance Summit is here!!! Attend and Know more.
Register Now!
close-image
Attend Webinar & Enhance Your Organisation's Digital Experience.
Register Now
close-image
Enable A Truly Seamless & Secure Workplace.
Register Now
close-image
Attend Inida's Largest BFSI Technology Conclave!
Register Now
close-image
Know how to protect your company in digital era.
Register Now
close-image
Protect Your Critical Assets From Well-Organized Hackers
Register Now
close-image
Find Solutions to Maintain Productivity
Register Now
close-image
Live Webinar : Improve customer experience with Voice Bots
Register Now
close-image
Live Event: Technology Day- Kerala, E- Governance Champions Awards
Register Now
close-image
Virtual Conference : Learn to Automate complex Business Processes
Register Now
close-image