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

SB Technology

06/06/2019 15:37

SAO PAULO, June 6 (Reuters) - Brazilian logistics company
Loggi has raised $150 million in a new financing round led by
China's Softbank, Microsoft Corp  MSFT.O , 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)
 ((carolina.mandl@thomsonreuters.com; +55 11 5644 7703; +55 11
97116-3806;))