LatAm List – Nuvocargo, a Mexican freight logistics startup, raised a $5.3M seed round led by NFX and Mexican VC fund ALLVP, with contributions from Magma Partners, One Way Ventures, Maya Capital, and private investors.
Nuvocargo is a managed marketplace for door-to-door freight transportation. The startup digitizes freight logistics through smart software such as geo-tracking and a cloud-based dashboard to make processing and managing shipments more efficient. Customers can request new shipments via WhatsApp, emails, or SMS.
Mexican trucking is one of the five biggest trade markets in the world, with 6.5 million trucking shipments passing between Mexico and the US every year. With the seed funding, Nuvocargo plans to prioritize hires in product, operations, finance, and engineering in the New York and Mexico offices.
Truck freight is particularly important at the moment, with markets relying more heavily on truck transportation.
āAll of us as a society should be more appreciative of truck drivers and the trucking industry, because this is something that really fuels the economy in both the United States and in Mexico,ā said Deepak Chhugani, CEO and founder of Nuvocargo.
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