This might depend on which part of the world the company is in. Here in the UK, many years ago, it was fairly common to abbreviate the word Company like this. For example, a company called “Smith and Company Limited” would sometimes be abbreviated like this:
So, the example you posted may be an attempt to give the logotype a somewhat retro/old fashioned feel to it. At least it has that kind of feel to it here in the UK. I’m not sure if younger people, or people in other parts of the world would know this.
The superscript o with underline also appears in the numero sign №
Source : Link , Question Author : Community , Answer Author : Billy Kerr