Flexport raises $1 billion for disruption of freight forwarding market

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Just a day after investing $200 million in physical storage startup Clutter , SoftBank Vision Fund, a venture arm of SoftBank, has led a $1 billion investment in logistics startup Flexport to disrupt the $2 trillion freight forwarding market. The fresh funding now puts Flexport, which operates its own 747 aircraft and employs 1,066 people across 11 offices and four warehouses, at $3.2 billion valuation. Other backers in the funding include existing investors Founders Fund, DST Global, Cherubic Ventures, Susa Ventures and SF Express. According to a public release, Flexport will use the capital to deepen its technology and data capabilities, grow its global logistics infrastructure footprint, and invest in industry expertise to help clients navigate increasingly complex global […]

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