{"id":837,"date":"2023-06-28T06:32:01","date_gmt":"2023-06-28T06:32:01","guid":{"rendered":"https:\/\/ladingcargo.com\/blog\/?p=837"},"modified":"2024-10-18T12:25:59","modified_gmt":"2024-10-18T12:25:59","slug":"investment-in-freighttech-continues-to-surge","status":"publish","type":"post","link":"https:\/\/ladingcargo.com\/blog\/investment-in-freighttech-continues-to-surge\/","title":{"rendered":"Investment in FreightTech Continues to Surge"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Investment in FreightTech Continues to Surge Cart.com received $60 million in Series C funding, bringing its total worth to $1.2 billion. It is a unicorn.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Meanwhile, two companies that work on the global supply chain, Nuvocargo, and CargoBot, have raised $36.5 million and $6 million, respectively.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Venture capital investment is low in some tech sectors, but high in transport and shipping.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Fernando Correa is the co-founder and CEO of Cargobot. He mentioned in an interview with a logistics news site that obtaining funding for a business can be challenging. Our investors trust us and have invested in our business.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/ladingcargo.com\/blog\/investment-in-freighttech-continues-to-surge\/#Cartcom_raises_60_million_in_Series_C_funding_to_accelerate_product_development_and_global_growth\" >Cart.com raises $60 million in Series C funding to accelerate product development and global growth<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/ladingcargo.com\/blog\/investment-in-freighttech-continues-to-surge\/#Nuvocargo_raises_365_million_in_Series_B_funding_to_expand_its_services_along_the_US-Mexico_border\" >Nuvocargo raises $36.5 million in Series B funding to expand its services along the U.S.-Mexico border<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/ladingcargo.com\/blog\/investment-in-freighttech-continues-to-surge\/#Cargobot_raises_6_million_in_Series_A_funding_to_develop_new_services_and_expand_its_transport_network\" >Cargobot raises $6 million in Series A funding to develop new services and expand its transport network<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/ladingcargo.com\/blog\/investment-in-freighttech-continues-to-surge\/#The_bottom_Line\" >The bottom Line<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Cartcom_raises_60_million_in_Series_C_funding_to_accelerate_product_development_and_global_growth\"><\/span><span style=\"font-weight: 400\">Cart.com raises $60 million in Series C funding to accelerate product development and global growth<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400\">Cart.com, a trade and transportation tool company, has raised $60 million, according to a news release.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The company wants to use the money to speed up the development of products. and grow worldwide. The products are for its business-to-business and corporate clients.\u00a0<\/span><\/p>\n<ol>\n<li><span style=\"font-weight: 400\"> Riley Venture Capital, Kingfisher Investment Advisors, Legacy Knight, Snowflake Ventures, Prosperity7 Ventures, and others were strategic partners in the Series C round.<\/span><\/li>\n<\/ol>\n<p><span style=\"font-weight: 400\">Omair Tariq, the co-founder, and CEO of Cart.com, stated that the company is a leading commerce software and services provider.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Their main focus is to empower customers to compete and succeed in every channel using digital tools and technology-driven logistics capabilities.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The company plans to invest further in its commerce data capabilities. The purpose is to address challenges related to inventory, channels, and supply chains.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Cart.com has become a &#8220;unicorn&#8221; company worth at least $1 billion as a result of the latest round of funding.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Since its establishment in 2020, Cart.com has grown to have 6,000 different names. Their software has facilitated $5 billion in gross merchandise volume, 140 million in product sales, $10 trillion in product ads, and 11 billion in marketplaces.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Nuvocargo_raises_365_million_in_Series_B_funding_to_expand_its_services_along_the_US-Mexico_border\"><\/span><span style=\"font-weight: 400\">Nuvocargo raises $36.5 million in Series B funding to expand its services along the U.S.-Mexico border<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400\">A digital logistics company named Nuvocargo raised $36.5 million in a Series B round of funding, which was led by QED Investors.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The money will help the New York company, which used to only serve the Laredo, Texas, area, grow so that it can serve all of the big U.S.-Mexico border routes. This growth is because shippers and transport companies that work in the international United States\u2013Mexico region are asking for more.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Deepak Chhugani, the CEO of Nuvocargo, thinks that Mexico will continue to be one of the most important trading partners of the United States.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The company plans to take advantage of the trend of nearshoring, which is bringing jobs from China and other Asian countries to Mexico.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Because of the Series B fundraising round, Nuvocargo&#8217;s value went up to about $250 million.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Cargobot_raises_6_million_in_Series_A_funding_to_develop_new_services_and_expand_its_transport_network\"><\/span><span style=\"font-weight: 400\">Cargobot raises $6 million in Series A funding to develop new services and expand its transport network<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400\">The Miami-based digital freight business Cargobot got $6 million in a Series A investment round led by BPBI and continued support from the lead owner, Total Management 2 Inc.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">With the money, new services and goods for movers and haulers will be made. The goal of Cargobot&#8217;s platform is to make it easier for shippers and carriers to move freight by keeping track of freight operations in real time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The company has big plans to build its transport network, API links, Cargobot Pool business, and Cargobot SaaS business. Cargobot thinks there is promise in trade between the United States and Mexico.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"The_bottom_Line\"><\/span><span style=\"font-weight: 400\">The bottom Line<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400\">In conclusion, investors keep pouring money into FreightTech. Recently, three supply chain businesses\u2014Cart.com, Nuvocargo, and CargoBot\u2014raised a total of $102 million from investors.<\/span><\/p>\n<p><span style=\"font-weight: 400\">This is good news for the <a href=\"https:\/\/ladingcargo.com\/\">logistics<\/a> industry as a whole because it shows that investors believe these businesses and the industry as a whole will do well in the future.<\/span><\/p>\n<p><span style=\"font-weight: 400\">As the value of logistics is once again being seen and more openness in the supply chain is being looked for, venture capital funding for logistics companies has grown a lot.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Because people now know more about the business, high amounts of money are being put into it.<\/span><\/p>\n<p><span style=\"font-weight: 400\">With this money, these businesses will be able to improve their services, speed up product development and growth around the world, and better meet the needs of their growing B2B and corporate customers. All of this should be good for the logistics industry as a whole.<\/span><\/p>\n<p>The ultimate guide to <strong><a href=\"https:\/\/ladingcargo.com\/blog\/what-are-the-best-dry-van-dispatch-services-in-the-usa\/\">book dry van<\/a><\/strong> dispatch services!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investment in FreightTech Continues to Surge Cart.com received $60 million in Series C funding, bringing its total worth to $1.2 billion. It is a unicorn. Meanwhile, two companies that work&#8230;<\/p>\n","protected":false},"author":1,"featured_media":838,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[131],"tags":[],"class_list":["post-837","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Investment in FreightTech Continues to Surge<\/title>\n<meta name=\"description\" content=\"Investors are showing strong interest in FreightTech, with Cart.com, Nuvocargo, and CargoBot raising $102 million in funding.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ladingcargo.com\/blog\/investment-in-freighttech-continues-to-surge\/\" \/>\n<meta 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