On April 7, 2020, Brazilian start-up CargoX announced that it had raised $80 million in a Series E round of financing led by investor LGT Lightstone, with participation from existing investors Goldman Sachs, Valor Capital, and Farallon Capital.

CargoX helps match cargo with trucks available to transport it, and is sometimes referred to as the “Brazilian Uber for cargo.” Currently connecting 20,000 companies with 400,000 truck drivers, the company hopes to double the number of truck drivers it works with in 2020, at a time when the coronavirus pandemic has deeply constrained air cargo.

The company had raised $96 million previously, and the latest funding round brings the total to $176 million.

Members of Wilson Sonsini’s LatAm practice group represented CargoX in the transaction, led by Matt Squires, Craig Sherman, and Laura Duncan.

For more information, please see CargoX’s press release.