Logistics startup Vaahika making strides in India
Indian freight logistics start-up Vaahika is seeking to redress the issues of fragmentation and indifference ...
As one start-up fades, another thrives. Convoy, a two-year old Seattle-based company matching nearby and available truckers to loads, has attracted financing from Bill Gates’s Cascade Investment in a new round of funding, raising $62m. The company has already got support from Amazon’s Jeff Bezos and had raised $80m before this latest round.
The company offers much the same service as Uber Freight – but it appears that the smart money is not going to Uber, distracted as it currently is by a host of other issues.
It is as yet unclear what sort of volumes Convoy is shifting, but sales volume is doubling every quarter, and customers include companies as big as Unilever. Bloomberg has got the story.