Last week, Loggi
announced that it raised $150M
USD in its latest funding round, led by Softbank’s Vision Fund
. The company has now reached $1B valuation, adding Loggi to the extensive list of Brazilian unicorns.
Loggi’s “logistics-as-a-service” platform sends requests to nearby couriers who perform deliveries for clients. The app calculates the fee and route, providing a streamlined and simple process from start to finish.
“Brazil is lacking in good connectivity. The big issue is logistics. It can take an average of 10 days for an e-commerce delivery” (Bloomberg
“SoftBank is no stranger to betting on delivery apps. Earlier this year it led a $535 million investment in DoorDash Inc.
, a food-delivery app based in San Francisco. It also bought a 15 percent stake in ride-hailing giant Uber Technologies Inc.
, which transports people and food in Brazil and elsewhere”.
, partner at SoftBank Investment Advisers, said in a statement:
“Brazilian logistics is fragmented, inefficient and under-invested, making it an attractive market for disruption. We believe Loggi is the market leader and is unlocking the growth of the on-demand economy.”
In addition to its technology platform, Loggi will invest in robotics and engineering. The company manages 12 mini-hubs throughout São Paulo, where incoming packages are sorted into “time-and-cost efficient routes” before being picked up by Loggi drivers.