Forto raises $240M in funding round led by Softbank, taking its valuation to $1.2Bn
Freight technology startup, Forto, which we most recently covered when it raised $50 million late last year, is upping the stakes.
It’s now raised $240 million in a round led by Softbank Vision Fund 2 to expand its trade shipments between China and Europe. Forto manages shipping containers from origin to destination. Softbank is also hedging its bets after investing in China’s Full Truck Alliance (YMM.N), which plans a $20 billion IPO.
That means Forto’s valuation close to $1.2 billion, after it’s raised a total of $360 million. Also participating in the round were new investors Citi Ventures and G Squared. Existing investors including Northzone, Cherry Ventures and Unbound also took part, Forto said.
German logistics startups are proliferating. Trucking specialist Sennder, a digital road freight forwarder, raised $160 million in Series D financing earlier this year.
Forto says it has 2,500 clients, including Home 24 and German supermarket chain Edeka, and ships up to 10,000 containers a year by sea, rail and air.
Freight technology startup, Forto, which we most recently covered when it raised $50 million late last year, is upping the stakes. It’s now raised $240 million in a round led by Softbank Vision Fund 2 to expand its trade shipments between China and Europe. Forto manages shipping containers from origin…
Recent Posts
- Rebel Moon Part 2 isn’t the epic sci-fi sequel we hoped for – here are 3 better sagas to stream
- ‘A whole new generation of displays’: researchers develop RGB LED out of miracle material perovskite, paving the way for self sensing, solar powered displays — but its hour-long service life needs to be improved first
- Quordle today – hints and answers for Sunday, April 21 (game #818)
- NYT Strands today — hints, answers and spangram for Sunday, April 21 (game #49)
- This is Tesla’s riveting fix for recalled Cybertruck accelerator pedals
Archives
- April 2024
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- June 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- August 2022
- July 2022
- June 2022
- May 2022
- April 2022
- March 2022
- February 2022
- January 2022
- December 2021
- November 2021
- October 2021
- September 2021
- August 2021
- July 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- December 2020
- November 2020
- October 2020
- September 2020
- August 2020
- July 2020
- June 2020
- May 2020
- April 2020
- March 2020
- February 2020
- January 2020
- December 2019
- November 2019
- December 2011