Miami, FL - June 21, 2023 - Cargobot, a Miami-based international digital freight company that connects shippers and carriers via its robust, data-driven platform, today announced a $6M Series A funding round. Led by BPBI with continued participation from their majority investor Total Management 2 Inc., the funding enables Cargobot to continue to disrupt the freight industry through its technological innovation and elevated solutions.
“We believe there are vast possibilities to create efficient, value-added solutions for the $800 billion freight industry through technology, and we stand behind Cargobot’s core management to create these solutions both for shippers and carriers,” said Eugenio Torres, managing partner at BPBI. “We are confident that Cargobot will become a significant leader in the freight industry and overall supply chain with its transformative, innovative technology.”
Total Management 2 Inc. managing partner, David Liaño also proceeded to reassure their ongoing confidence in Cargobot by stating, “We continue to believe and support the vision of the company and its lucrative potential in disrupting the freight industry.”
Notably, another participant of this investment round was industry player Transborder S.A.S, an international company with six global offices, which will help Cargobot expand its global footprint with its SaaS model.
Cargobot’s user-centric platform offers enhanced transparency and efficiency in today's freight industry. By collecting, analyzing and presenting data, the company’s end-to-end platform offers shippers and carriers industry-leading competitive rates and capacity while ensuring remarkable freight services.
“At Cargobot, our mission is to simplify logistics while promoting a positive and harmonious relationship between technology and people,” said Fernando Correa, Co-founder and CEO of Cargobot. “Through our embrace of digital minimalism, we strive to maximize efficiency, minimize distractions, and drive revenue growth. By creating a healthier tech relationship, we aim to enhance the overall well-being of individuals and businesses alike.”
Cargobot plans to further develop its current business units, including Cargobot Pool and Cargobot SaaS, to provide new solutions for the freight industry. In the past year, the company has:
- Successfully integrated digital technology into more than 10 industry-leading software/service companies
- Launched six business/product verticals offering a wide range of services that benefit the supply chain at large
- Increased gross profit by 16.5% MoM
- Seen an average revenue growth of 9.75% MoM
- Increased average loads/transactions by 6.3% MoM
- Expanded its SaaS business footprint to over five countries (Colombia, Chile, Peru, Saudi Arabia, Spain)
For more information, please visit https://www.cargobot.io/.
About Cargobot
Founded in 2016, Cargobot is a Miami-based international digital freight company that connects shippers and carriers via its robust, data-driven platform. Its enhanced services equip carriers with user-friendly tools to drive increased productivity and profitability and allow shippers the visibility, control, and intuitive technology needed to minimize transportation disruptions.
The international digital freight company plans to increase the adoption of its technology solutions and services to become the industry’s one-stop marketplace.
Operating in North America with a business presence in Colombia and Spain, Cargobot’s user-centric approach offers the transparency and efficiency lacking in today’s freight industry. Cargobot’s multicultural team has more than half a century of experience in traditional freight brokerage, technology, and supply chain consulting services.
For more information, please visit https://www.cargobot.io/.
About BPBI
Founded in 2016, BPBI is an independent investment management firm focused on private equity, M&A advisory and private banking services, with the latter focused on UHNWI.
The company was founded by Eugenio Torres, former Mexico Country Head at Rothschild, Adolfo Rios, founder of ADR-Lazard and former Mexico Country Head at Rothschild. Prior to incorporating BPBI, the founders, among other activities, had participated in some of the largest and most visible restructuring and M&A transactions in Mexico and LatAm, with a total transaction value in excess of US$100bn.
About Total Management 2 Inc.
Founded in 2011, with offices in Miami and Mexico City, Total Management 2 has focused its investments in companies with a high potential for disruptive innovation.
About Transborder S.A.S.
Founded in 1993, Transborder was built to provide logistics services to Colombian companies in different market segments, such as automotive, retail, chemicals, and fresh perishables.
In 2015, we deployed an expansion program to operate in different strategic markets. We started with China and subsequently expanded to the USA, Mexico, Panama, Peru, Chile, and Germany as the base for our commercial operations, forming an extensive logistics ecosystem.
Our investments in recent years have been concentrated on digital transformation and the creation of new digitally-intensive products, such as freight and inventory financing, trading, domestic transportation, 4PL, analytics, and corporate social responsibility. These initiatives form the core of our Transborder DNA.
Media Contact:
Erika Cassidy
Carve Communications for Cargobot
(201) 518-6010
