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.