Goldman Sachs led a $20m series C funding round in CargoX.

Goldman Sachs, a global investment banking, securities and investment management firm, led a $20m series C funding round in CargoX, a trucking services provider, with participation from Soros, Qualcomm Ventures, Agility Logistics and Valor Capital. “CargoX has leveraged world class technology and design to operate as a transportation company with no assets. We have developed a platform with a network of thousands of truck drivers, collecting data in real time and helping improve efficiencies, by stopping trucks that are travelling empty and building trust with the business community. The new funding will enable us to scale our business in Brazil and globally and revolutionize the transport of cargo. It also shows trust in the innovation that has helped us disrupt one of the largest and most traditional sectors of the economy,” Federico Vega, CargoX CEO.