A strenuous time for the shipping industry has corresponded with a boom in large rounds for freight tech startups.
- Loadsmart has raised a $200 million Series D led by SoftBank‘s Latin America fund, bringing the company’s valuation to $1.3 billion. Chicago-based Loadsmart, which makes software for shippers to instantly book freight, was valued at $330 million in late 2020, according to PitchBook data.
- Freight tech startups raised 31 mega-rounds in 2021, more than in the prior three years combined, PitchBook data shows.
- Several of those supersized rounds went to trucking logistics companies like Loadsmart. In the past year, Uber Freight raised $550 million, Project44 landed $420 million and Flock Freight $215 million.
Related read: Supply Chain Tech Q3 2021 Emerging Tech Research report
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