COGOS Raises $1.2 Million Debt Funding From Vivriti Capital The fund raised will be used to expand the national footprint and for the hiring purposes

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Pexels

COGOS, India's leading tech-logistics startup, has raised $1.2 million debt financing from Vivriti Capital, a fintech NBFC. The credit line issued will be utilised by COGOS as they head towards an aggressive expansion, since their operations are now active across the country. The debt funding raised from Vivriti Capital will be used to expand its national footprint and for hiring purposes.

"City-logistics is growing steadily and we are set to witness some high rise in demand, specifically from non-tier 1 cities. Immediate capital investment will help us combat this demand with complete efficiency. We are glad to have the support of Vivriti Capitals in issuing this credit line for us. We are determined to utilise it in our aggressive expansion plan, specifically in tier 2 and tier 3 cities," said Prasad Sreeram, CEO and co-founder of COGOS

COGOS is backed by reputed India and US-based VC funds, WorldQuant Ventures, UAE-based Logistics major Transworld as well as Indian Angel Network (IAN), EV2 Ventures and Lets Venture. COGOS very recently acquired the FMCG Modern trade business of Porter. They have aggressively increased their network, resulting in steady expansion. It is also the India's first asset-light B2B City logistics platform with over 350 city network of truckers across India, on-boarded by fully self-serve Digital Onboarding as part of their Proprietary Tech Platform, according to an official statement by the company.

"We are happy to engage with COGOS and support their essential expansion into Tier II and III cities. This partnership moves Vivriti one step closer to achieving its goals since we see a big market opportunity in the mid-sized sector and are always striving to close the funding gap between these businesses and the resources that are available. We at Vivriti have been able to deliver hassle-free flow of debt finance with maximum flexibility and short turnaround time because of the company's strong technological and risk assessment foundation," said Gautam Jain, chief business officer at Vivriti Capital.

Vivriti Capital is a fintech NBFC that aims to bring necessary debt finance to hundreds of mid-market enterprises across India and has claimed to built a highly successful franchise, with a $900 million of portfolio, as well as over 800 clients across more than 40 sectors and 26 states.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.
Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

News and Trends

India has the Potential to Host over 620 New Large GCCs by 2030: ANSR

The BFSI sector dominates GCCs in India, followed by Manufacturing and Retail/CPG. There is also a strong focus on digital technologies, with 85 per cent of GCCs engaged in digital commerce initiatives.

News and Trends

Ecozen Secures Over USD 23 Mn Debt Funding to Expand Climate-Smart Solutions

This round of investment will be directed toward scaling Ecozen's flagship solutions, including Ecotron, Ecofrost, and advanced motor control systems.

News and Trends

D2C Skincare Brand Foxtale Raised USD 30 Mn Series C Funding

Last year, the Mumbai-based brand raised USD 18 million (around INR 150 crore) in its Series B funding round, led by Panthera Growth Partners from Singapore.

News and Trends

Union Budget 2025: Will FM Finally Offer Tax Relief to India's Crypto Ecosystem?

Among the demands and suggestions posed by the ecosystem players, the reduction of tax on virtual digital assets (VDA) and Tax Deducted at Source (TDS) remain a prime concern. The previous interim budget and union budget failed to provide any relief for domestic crypto investors.