Logistics aggregator Cogos raises funding from IAN, Emergent Ventures

Intra-city logistics aggregator Cogos Technologies Pvt. Ltd has raised $1 million (around Rs 7 crore) from the Indian Angel Network (IAN), Emergent Ventures and some high-net-worth individuals.

IAN investor Niraj Saran led the startup’s pre-Series A funding round and will join its board, the angel network said in a statement.

The startup will use the funds to enhance its technological offerings, build newer products and strengthen its team, said Prasad Sreeram, founder and CEO, Cogos Technologies.

“Our mission is to provide an end-to-end platform, powered by a strong core engine, to help truckers connect with enterprises and vice-versa,” said Sreeram, who founded Cogos Technologies in 2016 with chief operating officer Rama Mohan Katta.

Cogos says its platform is integrated with advanced sensors, internet-of-things (IoT) technology and third-party applications to facilitate the commercial transport ecosystem. Its tech-led solutions will empower trucking businesses to plan, schedule, monitor and assign shipments.

Recent developments in the logistics sector:

• In May, logistics startup Shadowfax appointed former Myntra product and tech chief as an independent director.
• Logistics management solutions provider Locus, run by Mara Labs Inc, raised around $26 million in a round of funding led by Tiger Global.
• Intra-city logistics platform Blowhorn appointed personnel to head its strategy and technology divisions.