Total amount raised
$242.6 Million
Latest funding date
05/01/2022
Location
Nowports has successfully raised funds over 8 rounds, with the latest being a Series C round. The company is backed by 30 investors, including notable names like Base10 Partners, Ricardo Amper, and SOFTBANK Latin America Ventures.
Keep reading to explore the intricacies of Nowports' fundraising journey and the investors backing this innovative digital freight forwarder.
What Is Nowports?
Nowports is a digital freight forwarder that automates the supply chain process for companies. Founded in Monterrey, Nuevo Leon, Mexico, the company operates in industries such as Freight Service, Logistics, SaaS, and Supply Chain Management.
With a significant workforce of 1001-5000 employees, Nowports focuses on simplifying international trade in Latin America. The company offers a range of logistics services, including air, maritime, and land transport, as well as cargo and container insurance.
How Much Funding Has Nowports Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To innovate the freight forwarding industry and help companies improve the import process.
- Seed Round
- Amount Raised: USD 150,000
- Date: March 2019
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To set itself up to be the Flexport of Latin America.
- Seed Round
- Amount Raised: USD 8,450,000
- Date: June 2019
- Lead Investors: Base10 Partners, MONASHEES
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the growth and expansion of Nowports as a digital freight forwarder.
- Series A Round
- Amount Raised: USD 16,000,000
- Date: July 2021
- Lead Investors: Mouro Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build the operating system for Latin America's shipping industry and improve the import process for companies, especially SMEs.
- Series A Round
- Amount Raised: USD 8,000,000
- Date: October 2021
- Lead Investors: JAM Fund, Justin Mateen
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support continued growth and expansion.
- Series B Round
- Amount Raised: USD 60,000,000
- Date: December 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's rapid growth and expansion.
- Undisclosed Round
- Amount Raised: Not publicly disclosed
- Date: February 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's ongoing operations and growth.
- Series C Round
- Amount Raised: USD 150,000,000
- Date: May 2022
- Lead Investors: SOFTBANK Latin America Ventures
- Valuation at Round: USD 1.1 billion
- Motivation Behind the Round: To hire more tech and engineering talents and to expand services to more cities in Brazil, Mexico, and Chile.
Total Amount Raised: USD 242,600,000. Current Valuation: USD 1.1 billion.
Key Investors
- SOFTBANK Latin America Ventures
- Details: A fund focused on investing in technology-driven companies in Latin America. Part of the larger SoftBank Group, known for its significant investments in tech giants.
- Investment Focus Areas: Technology, energy, financial sectors.
- Notable Investments: Uber, WeWork, Alibaba.
- Tiger Global Management
- Details: A global investment firm that focuses on private and public companies in the internet, software, consumer, and financial technology sectors. Known for its aggressive investment strategy and large portfolio of tech companies.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- Foundation Capital
- Details: A venture capital firm that invests in early-stage technology companies. Focuses on sectors such as fintech, enterprise software, and consumer technology.
- Investment Focus Areas: Fintech, enterprise software, consumer technology.
- Notable Investments: Netflix, LendingClub, Sunrun.
- Monashees
- Details: A venture capital firm based in Brazil that invests in technology startups. Known for its focus on the Latin American market.
- Investment Focus Areas: Technology startups.
- Notable Investments: Rappi, 99, Loggi.
- Base10 Partners
- Details: A venture capital firm that invests in automation and technology for the real economy. Participated in the Series C funding round for Nowports.
- Investment Focus Areas: Automation, technology for the real economy.
- Notable Investments: Figma, Notion, Rappi.
What's Next for Nowports?
Nowports stands at the cusp of significant growth, with opportunities to expand its services across Brazil, Mexico, and Chile. The company aims to enhance its technological infrastructure by hiring more tech and engineering talents, which will be crucial for scaling its logistics platform and implementing real-time shipment tracking using advanced sensors. This expansion is set to revolutionize the import and export processes for Latin American companies, particularly SMEs.
Given the strong investor interest and the recent successful funding rounds, Nowports is well-positioned for future fundraising opportunities. The involvement of high-profile investors like SoftBank and Tiger Global suggests that the company may continue to attract significant investment to support its rapid growth and technological advancements. However, Nowports will need to navigate challenges such as managing rapid expansion, integrating new technologies, and competing with other well-funded logistics companies.
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