New technology companies are poised to transform the shipping and freight industry across Latin America.
Startups like Liftit, a Colombian provider of trucking services, and Nowports, a Mexican freight shipping startup, are angling to be the next Convoy and Flexport — at a time when shipping and logistics business in Latin America is booming thanks to increasing trade coming from China.
“Startups in the logistics industry have their work cut out for them in Latin America, and these sectors are the most prominent battlegrounds for innovation so far.”
Some Latin American logistics companies — like the Brazilian trucking company CargoX — have gained the attention of investors like Goldman Sachs, The Blackstone Group, and Samsung Ventures thanks, in part, to being initially backed by Oscar Salazary, one of the minds that originally launched Uber.
The company, which is graduating as part of the most recent crop of Y Combinator accelerated startups has set itself up to be the Flexport of Latin America.
De los Rios comes from a shipping family and is very familiar with the time-consuming, manual practices that now dominate the Latin American shipping industry.
Founded by serial entrepreneur Brian York, Liftit is looking to be the logistics provider for trucking in Latin America.
As Lustig notes:The challenge of automating and streamlining shipping logistics in Latin America is becoming more pressing as e-commerce and other B2C delivery businesses take hold.
In 2016, this figure hardly changed; Panama is the top-ranked Latin American country for logistics and shipping, yet it comes in 40th on the LPI global rankings.
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