Former Flexport/Amazon execs launch tech start-up for forwarders
You can’t keep a good techbro down. Former Flexport and Amazon executives have launched a ...
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GM: GAUGING RISKGXO: NEW BOT PARTNERWMT: CAPEX IN CHECKWMT: CFO ON AUTOMATION WMT: SPOTLIGHT ON AUTOMATIONHD: PRESSURE BUILDSFWRD: REVISED EBITDA MAERSK: TESTING ONE-MONTH HIGHFDX: UP UP AND AWAYRXO: COYOTE DEAL TAILWINDDSV: NEW REFI DEALR: WEAKENING AMZN: LIFESTYLE BATTLEKNIN: EXPANDED NETWORK OF CROSS-DECK FACILITIES
Funding for logistics and supply chain start-ups doubled last over 2020, according to this report from McKinsey, although given that the number of cash-raising rounds remained, the money is coming into start-ups in ever larger chunks.
This means that certain firms are dominating cash inflows – $2.5bn for Indonesia’s J&T Express, $1.5bn for Lalamove, another billion for Flexport – and are also beginning to deploy these war-chests in M&A: $2.8bn was spent by star-ups in the US alone in 2021 on acquisitions.
All of which is attracting increasing attention from big money private equity: “Private equity (PE) funds are also entering the arena and increasing the drive to fast and successful exits—through IPOs, for example. Analysis of the start-up sample shows that PE funding increased by 167% between 2020 and 2021, far above the overall funding increase of 95%. As more VCs exit successfully, they leave space for larger funds to invest.”
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