June 6, 2019 / 2:38 PM / a month ago

CORRECTED-Brazil logistics firm Loggi raises $150 mln in new financing round

(Corrects first paragraph to show Softbank is Japanese company, not Chinese)

SAO PAULO, June 6 (Reuters) - Brazilian logistics company Loggi has raised $150 million in a new financing round led by Japan’s Softbank, Microsoft Corp, GGV, Fifth Wall and Velt Partners, it said in a statement on Thursday.

The company said it reached a $1 billion valuation, swelling the ranks of Brazil’s tech startup “unicorns.”

Loggi makes 100,000 deliveries to Brazilian companies daily and intends to reach 5 million deliveries daily in the next five years, it said.

After rapid growth of a mobile app for on-demand motorcycle deliveries, the company plans to invest in geographic expansion through new distributions centers and air transportation.

Loggi said it also plans to create a technology team with more than 1,000 people. (Reporting by Alberto Alerigi Jr; Writing by Carolina Mandl; Editing by Bill Trott)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below