Cargomatic is a CA based tech company which aims to revolutionize the trucking industry by integrating the various trucking channels.
It has successfully raised $ 8 Million in its latest round of investment. After this, the total investment tally of the tech based firm has reached $10.6 million.
The list of investors for Cargomatic includes SV Angels, Morado Venture Partners, Sherpa Ventures, QueensBridge Venture Partners among several others.
The basic working principle of Cargomatic is to connect the shippers with the carriers having the underutilized holding capacity in their commercial vehicles.
This helps the carriers to utilize the empty space and earn money, whereas shippers are benefited as they have to pay quite less amount as compared to standard transportation charges for their goods.
In simpler words, Cargomatic has turned local trucking business into a more meaningful business. In today’s fast moving economy Cargomatic is playing a decent role in managing the logistics shipping demand.
As of now Cargomatic is focusing in limited geographical areas, however with the fresh round of funding we may see it expanding the business over other areas as well. Also, its recently launched mobile apps are doing wonders for the business and accounts for a good percentage of their total bookings.