News / Frenzy of investment as truck freight matching oils the wheels

25/04/2022

‘Road freight’s Uber’, cargo-matching provider Convoy, has secured $260m in Series E funding, as well as a $150m credit line from JP Morgan, meaning it is now valued at $3.8bn.

The high valuation affirms the high expectations for tech to curtail inefficiencies in road transport. Here, there are many opportunities for streamlining, due to the industry’s fragmented character, the company says.

“The pandemic highlighted how important trucking is and how volatile and inefficient this industry can be,” said Convoy CEO Dan Lewis. ...

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paul Newman
April 26, 2022 at 5:08 pm
Transpotel did exactly the same as Convoy in 1990 & it failed, the same as several other load matching systems since.

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