SStartup Funding

CargoX raises $80M Series E led by LGT Lightstone Latin America

SAO PAULO -SP, 08/03/15, Caminhoes da Sontra Cargo X , em São Bernardo do Campo. Foto: Fabiano Accorsi / Divulgação
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LatAm List – CargoX, a logistics startups, raised an $80M Series E funding round led by LGT Lightstone Latin America with contributions from Valor Capital, Goldman Sachs, and Farallon Capital.

CargoX manages truck logistics in Brazil where it currently connects 20,000 companies with 400,000 truck drivers to complete deliveries. The company aims to double the number of truck drivers in the fleet in 2020 as road transport takes over air cargo due to COVID-19.

The latest investment brings the total raised to $176M as the company is rapidly becoming one of Brazil’s largest startups.

Read more on LAVCA.

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Katie joined LatamList as an intern during her Year Abroad in Latin America and became a Content Writer after finishing her time with Magma Partners. She is in her final year at Exeter University, United Kingdom, where she studies English Literature and Spanish Language. Katie believes in the importance of the global newsroom and is passionate about foreign correspondency and conflict journalism.

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