As part of the rejig, the company has also promoted its vice president of technology, Goutham BV, to chief technology officer (CTO)
While Prasad joined COGOS as its COO and board member last year, BV joined the company in 2022
Founded in 2016 by Sreeram and Rama Mohan Katta, COGOS is a B2B City logistics platform with over 450 city network of truckers across 25 states in India. It enables enterprises to plan, execute and manage the transportation of goods
Intra-city logistics startup COGOS has elevated its director and chief operating officer (COO) Katta Prasad to cofounder as part of a reshuffling exercise.
As part of the rejig, the company has also promoted its vice president of technology, Goutham BV, to chief technology officer (CTO).
While Prasad joined COGOS as its COO and board member last year, BV joined the company in 2022.
Prior to that, Prasad served as the Head of Business Solutions Wizz Financial from May 2022 to June 2023.
He had held key positions across brands in payments, personal products and consumer goods industries and also worked at the executive level at companies like Xpress Money and Digital (Flex) among others.
He was also the founder of the Consultancy & Marketing Services Company, in Dubai, called Optimal Marketing Services, as per his LinkedIn profile.
Under Prasad’s leadership, the Full truck load (FTL) service, which books trucks for entire days through long-term contracts, has become more profitable, the company said in a statement.
At the same time, the company’s Less Than Truck Load (LTL) service too have shown growth, going from a -22% gross margin to a notable +11% gross margin
“His (Katta Prasad) visionary leadership and strategic insights have been instrumental in driving COGOS’s growth and positioning us as a frontrunner in the last-mile logistics industry. We are confident that under his continued guidance, COGOS will continue to thrive and innovate in the dynamic landscape of City Logistics,” said Prasad Sreeram, cofounder and chief executive officer at COGOS.
Prasad said, “I am deeply honoured to embark on this journey as the Co-Founder of COGOS. With our collective efforts, we aim to redefine standards and spark innovation.
Founded in 2016 by Sreeram and Rama Mohan Katta, COGOS is a B2B City logistics platform with over 450 city network of truckers across 25 states in India. It enables enterprises to plan, execute and manage the transportation of goods with its integrated advanced sensors, IoT technologies, and third-party applications integrated with the platform.
In addition, it provides electronic evidence of delivery to protect against theft and other issues while in transit.
It counts the likes of BigBasket, FedEx, Delhivery, ITC, Jumbotail, Amazon, Asian Paints, Britannia, and Flipkart among its customers, as provided on its website.
COGOS recently launched the electric vehicle Initiative which enables partners/drivers to become entrepreneurs by owning electric vehicles of their own with guaranteed income.
COGOS is backed by Indian and US-based VC funds EV2 Ventures, WorldQuant Ventures, UAE-based Logistics major Transworld, and reputed Indian angel networks, IAN and Lets Venture.
The company has so far secured over $4.24 Mn. It last raised debt funding of $1.2 Mn in 2023.
In 2022, it acquired logistics startup Porter’s FMCG modern trade business for an undisclosed amount to strengthen COGOS’ platform and enable it to meet the demand for city logistics.
India’s logistics industry has been gaining a lot of traction from investors for quite some time now.
Last month, trucking aggregator startup Letstransport raised $22 Mn (around INR 183 Cr) as a part of its Series E funding round led by its existing investor Bertelsmann India Investments.
As per Statista, the Indian logistics market was around $274 Bn in 2022 and is estimated to grow to $563 Bn by 2030, at a compound annual growth rate of 9.4 %.
