- Acquisition of Fixed Enterprise Business of a VC backed Logistics company
Bangalore, India: IAN and EV2 backed COGOS Technologies, the fastest-growing intra-city logistics player in the country is further solidifying its leadership in India. Using a very scientific enterprise acquisition methodology, the company has acquired a Division of a Peer logistic player adding instant access to Maharashtra, Gujarat, Delhi, Tamil Nadu, along with strengthening of Karnataka and Telangana.
To make the deal successful, COGOS adapted a first of its kind scientific methodology for acquisition and mergers called Human Capital Valuation for the 160 employees of the acquired business unit. COGOS partnered with a human data science technology company Yeta Solutions to design a psychometric tool to map culture & competence. The company selected and absorbed 100+ people based on this assessment.
Speaking on this, Prasad Sreeram, Founder & CEO, Cogos Technologies said, “Currently, there is no consolidated pan-India player for city logistics covering Tier 1, 2 and 3 and metro cities. With this acquisition, we want to bridge this gap and aim for our overarching goal of being the preferred pan India player for city logistics. This inorganic growth coupled with our unique SaaS-meets-IoT approach has led to us becoming the de-facto player for marquee customers such as Flipkart, Amazon, SuprDaily, Udaan, Grofers, Delhivery, and Bigbasket for city logistics. We are positive about this new development and have parked funds for further M&As in the future.”
Founded in 2016, COGOS is an AI-led logistics platform that claims to offer tools that solve the challenges for most intra-city supply chain businesses that are run on trucks or smaller tempos. With integrated advanced sensors, IoT technology, and third-party applications, COGOS helps truckers plan, execute and control the movement and storage of goods, with a clear view of the fleet in real-time. It has a network in 21 states and 300+ Cities with 10,000 trucks in the platform, clocking 150K trips. Some of their marquee clients include Flipkart, Coca-cola, Amazon, Mahindra logistics, Udaan, Bigbasket, ITC, Delhivery etc.