Nuvocargo Joins Endeavor: The Community For High-impact Entrepreneurs
Deepak Chhugani and Sam Blackman started Nuvocargo in late 2019 with the mission to simplify trade across the Americas by proving shippers and carriers with the only all-in-one digital platform for cross-border trade. Today, they are part of a selected group of 11 entrepreneurs leading six companies that were admitted to the Endeavor network through their 18th Virtual International Selection Panel (vISP).
This is a huge milestone for the company as it works to modernize a $2T market that has yet to experience real digitalization. "Inside Nuvocargo, we know what we are doing is special," said Sam Blackman, co-founder, and CTO. "Sometimes, the legacy market can be skeptical of startups, especially in such incumbent and entrenched industries like logistics... Nuvocargo's partnership with Endeavor signals that we are not a smoke-and-mirrors, fly-by-night startup; we are innovators and disrupters. We are here to stay and we are serious."
With these new additions, Endeavor now supports 2,208 entrepreneurs leading 1,375 companies in nearly 40 markets around the world, offering them access to strategic, global support services, including introductions to business mentors, investors, and volunteers. For Deepak Chhugani, co-founder and CEO, "being able to learn from other entrepreneurs and the community will allow me to create a better company, become a better employer, and generate a positive impact in the startup ecosystem, both in Mexico and globally."
The vISP is the culmination of a rigorous multi-step selection process to identify high-impact entrepreneurs who demonstrate the potential to leverage Endeavor’s resources and mentorship to create large-scale wealth and jobs, as well as positive impact in their communities. The vISP was presented by General Atlantic, with additional support from AXA, Bain, Cooley, EY, HSBC, Silicon Valley Bank, and Zoom.
Sam further explains the importance of building a strong network of partners for Nuvocargo.
"Business in general, but Nuvocargo specifically, is all about communication and building relationships. Logistics is the connective tissue for global commerce and that means all people in business either directly or indirectly interface with logistics and supply chains."
As for the long-term vision of the company, both Deepak and Sam strongly believe that as Nuvocargo continues to flourish, it will work as a catalyst for many entrepreneurs, greatly impacting the logistics industry and the startup ecosystem, all of which align perfectly with Endeavor's mission.
Nuvocargo is growing quickly, backed by some of the world’s leading investors from both Silicon Valley and Latin America such as QED Investors, NFX, ALLVP, Y Combinator, the founders of Nubank, Rappi, Ramp, Loft, and many more. Revenues have grown by 25x in 2020 and the company has managed to consistently grow revenues above 30% MoM since its launch. Today, the team is growing to 70+ employees in the U.S. and Mexico, and that number will likely double in the coming 12 months.
We are confident that with Endeavor in our corner, we are that much closer to achieving our ambitious goals. Learn more about Nuvocargo and what we do, here.