Mexican rail freight ambitions could provide Panama Canal alternative
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TechCrunch reports:
Nowports, an automated digital freight forwarder in Latin America, has raised $150 million in a Series C funding round which values the company at $1.1 billion.
For the unacquainted, digital freight forwarders use digital tools that improve communication and efficiencies in the shipping process, among other things, to help shipments get where they need to go in a timely manner. With so much attention on supply chain issues since the onset of the COVID-19 pandemic, the importance of an efficient supply chain is more apparent than ever. To quote my colleague Anna Heim, digitizing freight forwarding is a global challenge because the sector still lacks transparency and efficiency. Latin American startups have a steeper hill to climb, but this also drives them to innovate and help each other in interesting ways.
Nowport’s raise — led by SoftBank Latin America Fund — comes just six months after the Monterey, Mexico-based startup announced it had secured $60 million in a Series B funding round led by Tiger Global Management…
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