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The fundraise happened through the course of the current financial year with Tamil Nadu Emerging Sector Seed Fund and SNAM Group of Companies as lead investors.
This comes as the Tata Group company looks to accelerate its presence in the truck and freight ecosystem. ‘Freight Tiger is a digital platform that provides end-to-end logistics value chain solutions for cargo movement in the country.
In his role at COGOS, Katta will be responsible for the oversight of various key departments, including business development, operations, legal, MIS and business process improvement, among others, the company said in a statement.
Companies ranging from Shopify to Walmart have launched their own ecommerce platforms to compete with industry leader Amazon.com. Sellers who use those marketplaces get access to more customers, but often are saddled with more work since each platform has its own set of rules.
Brokerages have turned positive on the logistics startup and that may be the reason that the stake sale seems to have been bought into, preventing a fall in the counter