Founder and former CEO of Forager, Matt Silver, has recently announced the launch of Cargado, a new venture focused on creating an integrated platform for U.S.-Mexico cross-border logistics. Backed by $3 million in pre-seed funding, Cargado aims to tackle the unique challenges of freight movement between the U.S. and Mexico using cutting-edge technology.
Silver highlighted the increasing interest from companies in investing in Mexican logistics and leadership. He sees this as an opportune moment for Cargado to provide tailored software and technology solutions that cater to the evolving needs of logistics providers, trucking companies, and shippers involved in the U.S.-Mexico trade ecosystem.
While Silver did not disclose specific operational details of Cargado’s cross-border logistics approach, he emphasized the potential for innovation in the sector. With a deep understanding of cross-border freight and strong industry relationships, Cargado aims to streamline the logistics process and enhance connectivity across the supply chain.
The $3 million in funding will be utilized to assemble the initial team, develop technology infrastructure, and roll out the product to a select group of beta users by the end of the first quarter. Rylan Hawkins, the co-founder and chief technology officer of Cargado, brings valuable experience from his time as a founding engineer at Convoy and his tenure at Microsoft.
Hawkins expressed his motivation to join Cargado after witnessing the shift of the U.S. supply chain from China to Mexico during a trip to Laredo, Texas. Laredo serves as the top international gateway for trade in the U.S., further highlighting the significance of the U.S.-Mexico trade corridor.
The pre-seed funding round for Cargado was led by Ty Findley, co-founder and general partner at Ironspring Ventures, with support from Zenda Capital, Nichole Wischoff of Wischoff Ventures, Proeza Ventures, Sahil Bloom, and other professionals in the logistics and technology sectors. Craig Fuller, founder and CEO of FreightWaves, also participated in the round.
Ty Findley emphasized the importance of strengthening North American supply chains by enhancing Mexico’s nearshoring capabilities. He expressed confidence in the expertise of Cargado’s founders, citing their experience as a key asset in driving the company’s success.
Cargado’s entry into the U.S.-Mexico cross-border logistics space signifies a significant step towards leveraging technology to optimize freight movement and enhance trade efficiency between the two countries. With a strong founding team and substantial early-stage funding, Cargado is poised to make a notable impact on the logistics landscape.
(Source: Mexico Business Daily | Freight Waves)
