SStartup Funding

CargoX receives US$60M investment

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In a story brought to our attention by Axios, Brazilian freight trucking platform CargoX has raised US$60M in a round led by Blackstone Group and Hudson Structured Capital Management. CargoX founder, Federico Vega, made headlines earlier this year when the “Uber for Trucking” reached US$200M yearly revenue.

CargoX tries to make the trucking industry more efficient by connecting truck drivers with people who need their services so trucks never run empty. CargoX has previously received investment from Goldman Sachs, Qualcomm Ventures, Soros, and Uber founder Oscar Salazar. CargoX will likely come into direct competition with Uber as it expands out of the Brazilian market.

Read more in the original article for Axios or in Freight Waves.

Listen to Federico Vega on Crossing Borders.

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Sophia is the co-founder of LatamList. Currently, she is CEO at Friends of Wallacea & Venture Partner at Magma Partners. Sophia is passionate about harnessing the power of technology to empower communities to conserve and sustainably manage their land. She has followed this passion down several avenues, from entrepreneurship to investment and large-scale conservation management, including projects that span Africa, Latin America, and the South Pacific.

2 comments
  1. Pingback: Latin American startups have raised US$853M+ in the past 6 weeks. That’s more than all of 2016. – LatAm List
  2. Pingback: Las startups en Latinoamérica han levantado US$853M+ en las últimas 6 semanas, más del total del año 2016. – LatAm List
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