The aim of the study is to conceptualize the technology-aided mathematical modelling process in the frame of cognitive modelling perspective. The grounded theory approach was adopted in the study. The research was conducted with seven groups consisting of nineteen prospective mathematics teachers. The data were collected from the video records of the participants' solutions related to the three mathematical modelling problems, their written solution papers, the GeoGebra solution files and the researchers' observation notes. The technology-aided mathematical modelling process included the eight components, the seven stages and the forty-seven sub stages. The components were complex real world situation, real world problem situation, model of real world problem situation, sub-mathematical models, mathematical model(s), mathematical solution, real world solution, and a brief solution report. Additionally, the seven stages were problem analysis, constructing the systematic structure, mathematization, meta-mathematization, mathematical analysis, interpreting/evaluating, and validating model. It is considered that a comprehensive and different point of view regarding the cognitive activities in the technology-aided mathematical modelling process was introduced.