FreightTech Continues to Attract Funding with, Nuvocargo & Cargobot

FreightTech sector maintains investor interest as, Nuvocargo, and Cargobot secure $102 million in collective funding for expansion and innovation.

FreightTech Continues to Attract Funding with, Nuvocargo & Cargobot
Photo by NASA / Unsplash Reaches Unicorn Status

E-commerce platform has become a unicorn following a $60 million Series C funding round. This raises the company's valuation to $1.2 billion. The funds will be utilized to meet increasing demand from B2B and enterprise clients, speed up product development, and fuel international expansion.

Nuvocargo and CargoBot Secure Funding

Meanwhile, supply chain-focused startups Nuvocargo and CargoBot have secured $36.5 million and $6 million in funding, respectively. While the venture capital market has been challenging for some tech sectors, logistics and freight companies continue to attract investments.

Nuvocargo to Expand Operations

Nuvocargo, a digital logistics platform, announced that it will use its new funds to expand its services to all major US-Mexico border crossings. The company aims to capitalize on the increasing demand from shippers and carriers in the region, expanding its presence beyond its current focus on Laredo, Texas.

Cargobot's Growth Plans

Miami-based Cargobot raised $6 million in a Series A funding round, which the company will use to broaden its product and solution offerings for shippers and carriers. Cargobot is an international digital freight company that connects shippers and carriers via its data-driven platform. With the new funding, it plans to further develop its business units, aiming to provide more solutions for the freight industry.

Source: FreightWaves

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