US trucking in a 'decline of unprecedented length'
US trucking appears to be on a never-ending road, chasing a recovery that remains elusive. Predictions ...
© Jiri Vaclavek |
‘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. ...
Comment on this article
paul Newman
April 26, 2022 at 5:08 pmTranspotel did exactly the same as Convoy in 1990 & it failed, the same as several other load matching systems since.