LatAm List – Cargo X, a Brazilian Logtech, announced a $5.6M (R$30M) fund to support the delivery of essential goods during the COVID-19 pandemic, such as food, hygiene products, medicine, and cleaning products.
“We believe that this fund could help to contribute the most necessary contributions to the population at this time while maintaining the support to the drivers during the crisis. We will do everything possible to support society and not leave the markets and pharmacies struggling,” said Federico Vega, CEO of Cargo X.
With the new fund, Cargo X will pay the carriers and drivers, thus keeping the market functioning. 70% of wages will be paid at the time the truck is loaded, and the final 30% will be paid when the operation is completed.
Companies interested in benefiting from the new scheme can register on the website.
Cargo X has also launched Project Synergy, an initiative that aims to reduce the time spent unloading and loading trucks, and therefore make the system more effective and enable greater output.
Read more on StartUpi.