Industry News
LGT Lightstone Latin America Leads US$80m Series E in CargoX
7 April 2020
Brazilian logistics platform CargoX raised a US$80m Series E led by LGT Lightstone Latin America, with follow-on from Valor Capital, Goldman Sachs Growth Equity and Farallon Capital.
(Reuters) Brazil startup CargoX, which helps match cargo with trucks available to transport it, has raised $80 million in a Series E round led by investor LGT Lightstone.
CargoX, which is sometimes referred to as the Brazilian Uber for cargo, is one of the country’s largest startups. It said in a statement that it currently connects 20,000 companies with 400,000 truck drivers.
The company hopes to double the number of truck drivers it works with in 2020, at a time when the coronavirus pandemic has deeply constrained air cargo.
LGT Lightstone is controlled by the private bank LGT, which in turn is owned by the Liechtenstein royal family.
Cargo X has in the past received investments from Goldman Sachs and Farallon Capital. It had raised $96 million previously, and the latest funding round brings the total to $176 million. The company did not disclose a valuation for the enterprise.
You may be interested in...
-
Lightrock Deal Case; BTG Pactual Wins Bid for Transmission Assets
-
USD200m+ in New Deals; Leadership Moves for Valor, DOMO, dLocal
-
Elevar Equity Deal Case; Aqua Capital Reaches USD450m Final Close for Ag & Food PE Fund III
-
Save the Date for LAVCA ESG Awards; Vinci Partners Merged with Compass Creating USD50b AUM Asset Management Platform