04-21-2020

Announcing Nuvocargo's $5.3m seed round

Today, I am excited to announce Nuvocargo's $5.3m seed round co-led by Silicon Valley venture fund NFX and Mexico venture fund ALLVP, with participation from Y Combinator, One Way Ventures, MAYA Capital, Magma Partners, the co-founders of Rappi, the ex-CMO of Cabify, and several more angels.

It feels odd to share good news amidst one of the world's most unprecedented crises, but we hope this announcement adds a small dose of hope and optimism in these strange times.

We feel incredibly fortunate to enter this unpredictable era of COVID-19 with a strong cash position; this will allow us to invest in our customers, our carriers, create more jobs, and continue to bring together the best talent across Silicon Valley, the logistics industry, the United States and Latin America.

We are excited because this group of investors deeply represent Nuvocargo's diverse DNA:

  • James Currier at NFX, who is joining our board of directors, has built four successful venture-backed technology startups and co-founded NFX, a venture firm in the heart of Silicon Valley run by partners that have built 10 companies that have exited for $10 billion.
  • Antonia Rojas at ALLVP, has deep expertise investing throughout Latin America, comes from a trucking family, and was also a founder herself. She is based in Mexico City, where Nuvocargo has offices; ALLVP is the leading Mexico venture firm with local expertise and a deep understanding of the Mexican and Latin American markets.
  • Y Combinator, which funds only ~1% of its applicants worldwide from Silicon Valley and has helped create startups worth over $150bn+ over the past 15 years.
  • Lastly, we are privileged to be backed by 30+ more angels, founders, and board members at companies worth over $30 billion ranging from leading logistics companies to gaming companies that have sold for hundreds of millions, and everything in between. You can read more about them here.

At Nuvocargo, we believe global trade is undergoing a transformational shift from analog to digital. That shift is only going to happen once in history, and we are excited to do our part in helping drive that transition across the Americas.

This investment round brings us one step closer to realizing that vision. We are excited to welcome this amazing group of investors to our adventure.

If you're interested in joining Nuvocargo, you can learn more about us here and see our open positions here.

Onwards,

Deepak J. Chhugani

Founder & CEO - Nuvocargo