Logistics startup raises $60 million in Series B


Sydney-based logistics startup Ofload has raised $60 million in Sequence B spherical of fairness and debt

The increase comes 11 months after the corporate’s $20 million Series A.

The spherical was led by Singapore VC, Jungle Ventures, alongside present buyers Maersk Development, the enterprise arm of transport and provide chain large AP Moller – Maersk, in addition to King River Capital, Flexport, Bay Grove,  Flash Ventures and Foundamental.

Maersk. Flash Ventures and Foundamental have now backed the startup in all three rounds, beginning with 2020’s $2.8 million seed round.

Round $20 of the overall increase is in  debt from Liquidity Group’s Mars Development fund for the corporate’s acquisition ambitions.

Based in 2020, Ofload acquired Melbourne freight specialist CIA Logistics in its first deal to increase nationally in September this 12 months.

Very like market main logistics firm Shippit, which raised $65 million in a Series B extension in May this 12 months, the digital freight forwarder and transport administration startup maximises logistics by managing backfill for freight trucking.

Ofload counts Freedom Meals, Marley Spoon, FedEx, Doehler, and AP Moller – Maersk amongst its shoppers working with greater than 50 of the nation’s largest firms with entry to greater than 1500 carriers and 15,000 vans nationally.

It now has greater than 120 workers in Sydney, Melbourne and Brisbane following the merger with CIA Logistics.

 





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