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Transportation & Logistics

Freight Forwarder Nowports Hauls In Unicorn Valuation With $150M Series C Round

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Logistics has become big business as the world remains tangled in supply chain snafus, with tech companies aiming to solve the problems continuing to bring in large sums of cash.

Mexico-based freight forwarder is the latest, after not just raising a $150 million Series C this morning, but also hitting unicorns status with the round valuing the company at $1.1 billion.

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Venture-backed freight and logistics companies continue to see heavy investor interest after a record-setting 2021 in terms of fundraising, . Last year, investors poured more than $21.5 billion into freight and logistic startups鈥攎ore than doubling the $9.8 billion 2020 realized.

So far this year, numbers are down slightly鈥攁s they are in many industries鈥攂ut are nevertheless approaching $9 billion invested.

Founded in 2018, Nowports has raised more than $240 million, according to Crunchbase data. The company will use the new funding to expand financing services in Latin America and grow its logistics platform in the region. The company also plans to open new offices, including in Brazil, Mexico and Chile. The 500-person company currently has active offices in seven countries.

SoftBank鈥檚 involvement

The new round was led by Fund, with participation from a plethora of other investors including聽 , and .

SoftBank鈥檚 Latin America Fund wasn鈥檛 its only fund in the news today, as its Vision Fund 2 led a $150 million Series B round in livestreaming commerce and digital platform .

The deal announcements come just about two weeks after 鈥攁n investor in tech giants like and 鈥 told investors there will be a 鈥渟tricter selection of investments鈥 for the new year after posting a loss of $27.7 billion on investments in its for its just-ended fiscal year.

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