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Blackstone and Hudson Structured Capital Lead US$60m Investment in CargoX

August 27, 2018

The Blackstone Group and Hudson Structured Capital Management led a US$60m investment in Brazilian trucking platform CargoX. Goldman Sachs led a US$20m Series C in 2017, with participation from Qualcomm Ventures, Soros and existing investors Valor Capital, Agility Logistics, and Uber co-founder Oscar Salazar. Goldman also led the US$10m Series B.

(Axios) Brazilian trucking platform CargoX has raised $60 million in new funding led by The Blackstone Group and Hudson Structured Capital Management, Axios has learned.

Why it matters: The trucking industry can be very inefficient, with rigs often carrying half-full payloads. CargoX tries to correct this supply/demand imbalance by matching businesses with truckers who have excess capacity.

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Others investors include Goldman Sachs, Qualcomm Ventures, Soros, and Uber co-founder Oscar Salazar.

CargoX currently operates in Brazil, but may eventually expand into other markets, where it could run into Uber, which recently expanded its own freight business.

Blackstone and Hudson Structured Capital Lead US$60m Investment in CargoX was last modified: September 4th, 2018 by Editor
Blackstone GroupCargoXHudson Structured Capitallogistics and transportation
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