1 minute read | June.30.2023
Nuvocargo is a logistics startup with the first all-in-one digital platform focused on U.S.-Mexico cross-border trade. It combines proprietary software with a team of bilingual experts to seamlessly and transparently manage end-to-end cargo movement in a single platform, offering shippers freight, customs, insurance and trade finance in one place.
Orrick advised Nuvocargo on a recent $36.5 million Series B funding round led by QED Investors. Existing investors who participated include NFX, Tiger Global and ALLVP. New investors include Tresalia Capital, Amador Holdings and the co-founders of Dropbox, Repl.it and Platzi.
The funding round values Nuvocargo at $250 million, more than 40 percent higher than in late 2021, the company said. Nuvocargo has raised more than $75 million to date.
Nuvocargo plans to use the funds to grow its platform and expand from its current focus in Laredo, Texas, to other major border crossings between the U.S. and Mexico.
“With this expansion, the company seeks to capitalize on growing demand in the region and bring its integrated solution and cross-border expertise to even more shippers and carriers,” the company said.
The Orrick team that advised Nuvocargo includes John Harrison, John Bautista, Mike Yang, Jeanine McGuinness, Qipeng Hu, Vinny Mei and Ethan Dowling.
Orrick has advised Nuvocargo since its participation in Y Combinator in 2017.