COGOS Technologies Pvt Ltd which is a
Bangalore-based logistics company has announced that it has been able to raise
$2 Million in Pre-Series A funding.
global shipping and logistics player Transworld Group and Newyork based deep
tech fund Worldquant Ventures led the round. Using these funds, the company
will be able to expand its business to the internal market and strengthen its
tech-based platform. As per the reports, the estimated size of the Indian
logistics market is recorded at $215 billion.
Prasad Sreeram, Co-founder & CEO, COGOS, the company was founded to
integrate the fragmented and unorganized logistic market. He said that this tech-based startup is happy to have global
logistic players and Deeptech VCs who believe in the company. The company is
going to continue to provide customized solutions to its partners and offer the
best experience with its technology-driven platform.
Chetan Mehta, CEO, Wami Capital, as per the statistic, the Logistics market in
India is more than $300 million and is highly fragmented and unorganized which
means there is a huge growth opportunity in Tier 3 and 4 cities here.
As per Steven
Lau, MD, Worldquant Ventures, the AI logistics platform of COGOS is going to
have a significant ESG impact as they integrate EV adoption into the delivery
Source – Press release of "Cogos"
Image Source: Press release of "Cogos"