Convoy heralds $260 million capital funding raise, bringing total value to $3.8 billion

Seattle-based digital freight network Convoy said today it has raised $260 million worth of new funding, which will be geared towards accelerating the development of what it called its “efficiency-focused technologies in response to surging customer demand within the $800 billion trucking industry.” The new funding includes: a $160 million Series E preferred equity round… Continue reading Convoy heralds $260 million capital funding raise, bringing total value to $3.8 billion

UPS heralds partnership with Novavax for vaccine distribution and delivery efforts

Atlanta-based global transportation and logistics services provider UPS recently announced it has formed a partnership with Novavax, a global biotech company, focused on the distribution and delivery of Novavax’ recently-approved COVID-19 vaccine to 27 European Union countries. UPS said that the new vaccine is another weapon in the global fight against COVID-19. And it explained… Continue reading UPS heralds partnership with Novavax for vaccine distribution and delivery efforts

CP heralds new proof of concept interline service in partnership with KCS

While Canadian Pacific Railway’s (CP) acquisition of Kansas City Southern (KCS) is not expected to be made official until the second half of this year, CP said this week that that companies are collaborating on an interline basis, having rolled out what it said is the first dedicated intermodal train. This train runs between Lázaro… Continue reading CP heralds new proof of concept interline service in partnership with KCS

Greenscreens.AI heralds its first round of outside investment

Last month, West Palm Beach, Fla.-based Greenscreens.AI, a dynamic pricing infrastructure for the truckload spot market that delivers buy and sell-side market intelligence and business insights, heralded its initial round of outside capital investment, which was led by Tiger Capital. Company officials said that it will leverage this investment “to deliver a ground-breaking neutral platform,… Continue reading Greenscreens.AI heralds its first round of outside investment

Roadrunner heralds transit time reductions in more than 30 U.S. markets

Downers Grove, Ill.-based Roadrunner, a national less-than-truckload (LTL) services provider, with a focus on long-haul metro-to-metro shipping, recently announced a reduction in transit times throughout its network driven by what the company called “transformational improvements to its operations over the past year.”   Roadrunner said that these improvements have led to transit time reductions, for… Continue reading Roadrunner heralds transit time reductions in more than 30 U.S. markets

Flexport heralds a $935 million Series E investment round, brings valuation to more than $8 billion

Earlier this week, San Francisco-based freight forwarding and customs brokerage services provider Flexport heralded a $935 million Series E investment round, with this round bringing its post-money valuation to more than $8 billion. Flexport said this Series E investment was led by Andreessen Horowitz and MSD Partners with a strategic investment from Shopify, as well… Continue reading Flexport heralds a $935 million Series E investment round, brings valuation to more than $8 billion