Cargamos raises $ 11 million, the largest logistics technology seed round in LatAm
Today, the Mexican startup has 10,000 of its own distributors who mainly serve the needs of warehouses for retail products.
Last mile logistics platform Cargamos announced the raising of $ 7 million in tracking funds to expand its delivery services in Latin America. This capital raise raised its seed round to a total of $ 11 million, the largest for a logistics startup in Latin America to date.
This Mexican company revolutionized the use of strategic spaces and put on the Mexican table the theme of Dark Stores , which are physical spaces designed for online sales, without direct attention to the public and that are generally found in places of high demand. Today Cargamos has 10 thousand of its own distributors who mainly attend to the needs of warehouses for retail products. The company will use its initial capital to launch its first large specialized fulfillment facility (warehousing ) , grow its technology team and increase its coverage to 75 cities in Mexico.
Cargamos has the support of various entrepreneurs and investors in Latin America, including the CEO and founder of Kavak, Carlos García Otati , the CEO and founder of Jüsto, Ricardo Weder , and the founder and COO of Mercê do Bairro, Guilherme Bonifacio . This support is in addition to the investment of recognized venture capitals such as Nazca , FEMSA and Kayyak Ventures .
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"We are very excited to secure this funding and continue our mission to create a more decentralized and fully orchestrated supply chain," saidIvan Ariza , CEO and Founder of Cargamos. "Our goal is to break the monopoly of the logistics industry giants while providing new opportunities for local talent and better service for customers who need fast, accurate and affordable deliveries."