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.
Dubai-based 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.
According to 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.
According to 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 process.
Source – Press release of "Cogos"
Image Source: Press release of "Cogos"
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