The World’s Largest Technology Investment Fund Softbank Prepares to Invest in Partial Distribution Startup FlockFrieght with a Valuation of 500 Million USD
After investing 100 billion dollars in various technologies with Softbank Vision Fund-1, he created his second 100 Billion dollar fund Vision Fund-2 and FlockFreight (https://www.flockfreight.com/ ), together with other investors over 100 million dollars (113.5 million dollars). Millions of dollars) is preparing to invest. With this investment, the valuation of the company exceeds 500 million dollars.
FlockFreight produces innovative solutions in partial distribution with augmented intelligence supported algorithms. Thousands of manufacturers prefer LTL (less than one truck, partial) transportation and aim to deliver them to their customers at affordable costs. FlockFreight offers fast, safe, environmentally friendly and practical solutions.
The annual partial market of 40 billion dollars gives a rather scattered image. With the technologies it has developed, FlockFreight brings together cargo owners and truckers, creates hubs, and provides an environment for parties to talk to each other.
Flock Freght focuses specifically on organizing partial loads in small cities. It aims to organize at least two pieces of cargo on a truck in a maximum of 7 hours.
Prior to this funding, FlockFreight had raised around $70 million. SignalFire, GLP Capital Partners and Alphabet Inc.’s GV, which are among the existing investors, also participated in this investment round together with Softbank. Volvo Group Venture Capital is among the first investors.
In addition to the profitability it produces, FlockFreight has also been certified as a “B Corporation” in the State of California, with its positive effects on social life.