Cogos raises $1.2 mn in debt funding from Vivriti Capital
Leading tech-logistics firm Cogos in India has secured $1.2 million in debt financing from fintech NBFC Vivriti Capital. Due to the fact that COGOS' operations are now widespread throughout the nation, the company will use the provided credit line as it moves towards an aggressive expansion. The Vivriti Capital debt financing will be utilised to increase the company's national reach and fund employee hiring.
"City-logistics is expanding gradually, and demand, particularly from non-tier 1 cities, is expected to soar. We can fully meet this demand if we make an immediate cash investment. We appreciate Vivriti Capitals' help in approving this loan line for us. In particular, we are determined to use it in tier 2 and tier 3 cities as part of our ambitious expansion plan "said COGOS co-founder and CEO Prasad Sreeram.
Reputable Indian and American venture capital funds, WorldQuant Ventures, the UAE-based logistics giant Transworld, the Indian Angel Network (IAN), EV2 Ventures, and Lets Venture all support COGOS. Porter's FMCG Modern Trade business was just acquired by COGOS. They aggressively expanded their network, which led to continuous growth. According to an official release from the company, it is also the first asset-light B2B City logistics platform in India with over 350 city networks of truckers across India that are on-boarded by fully self-serve Digital Onboarding as part of their proprietary tech platform.
"Our engagement with COGOS and support of their crucial expansion into Tier II and III cities makes us delighted. Due to the significant market opportunity in the mid-sized sector and our ongoing efforts to narrow the financial gap between these companies and the available resources, this cooperation brings Vivriti one step closer to realising its objectives. Due to Vivriti's solid technological and risk assessment basis, we have been able to supply hassle-free flow of debt financing with maximum flexibility and quick turnaround time "Vivriti Capital's chief business officer, Gautam Jain, said.
A fintech NBFC called Vivriti Capital claims to have established a highly successful brand with over 800 clients spanning more than 40 sectors and 26 states, as well as a $900 million portfolio to help hundreds of mid-market businesses in India get the necessary debt financing.
"City-logistics is expanding gradually, and demand, particularly from non-tier 1 cities, is expected to soar. We can fully meet this demand if we make an immediate cash investment. We appreciate Vivriti Capitals' help in approving this loan line for us. In particular, we are determined to use it in tier 2 and tier 3 cities as part of our ambitious expansion plan "said COGOS co-founder and CEO Prasad Sreeram.
Reputable Indian and American venture capital funds, WorldQuant Ventures, the UAE-based logistics giant Transworld, the Indian Angel Network (IAN), EV2 Ventures, and Lets Venture all support COGOS. Porter's FMCG Modern Trade business was just acquired by COGOS. They aggressively expanded their network, which led to continuous growth. According to an official release from the company, it is also the first asset-light B2B City logistics platform in India with over 350 city networks of truckers across India that are on-boarded by fully self-serve Digital Onboarding as part of their proprietary tech platform.
"Our engagement with COGOS and support of their crucial expansion into Tier II and III cities makes us delighted. Due to the significant market opportunity in the mid-sized sector and our ongoing efforts to narrow the financial gap between these companies and the available resources, this cooperation brings Vivriti one step closer to realising its objectives. Due to Vivriti's solid technological and risk assessment basis, we have been able to supply hassle-free flow of debt financing with maximum flexibility and quick turnaround time "Vivriti Capital's chief business officer, Gautam Jain, said.
A fintech NBFC called Vivriti Capital claims to have established a highly successful brand with over 800 clients spanning more than 40 sectors and 26 states, as well as a $900 million portfolio to help hundreds of mid-market businesses in India get the necessary debt financing.
