colombian logistics startup liftit expands in mexico
Contxto – Colombian logistics startup Liftit is expanding its operations. According to a recent press release, negotiations are underway to grow further into Mexico. Soon, it will be helping to move cargo to and from Guadalajara and its surrounding areas by the second quarter of 2020.
The startup can already be found within two other parts of the country: Mexico City and Monterrey. And with this new addition, Liftit is now present in Mexico’s most important industrial hubs.
Related article: Colombian logistics startup, Liftit, raises US$14.3 million from monashees and the IFC
Liftit in Mexico
The Colombian startup was very busy last year.
In early 2019, it raised an investment round for US$14.3 million with big names like monashees, NXTP Labs, and Jaguar Ventures. Within that same timespan it also kicked off operations in Mexico City.
By December of 2019, it ended with 96 truckers or Lifters on its marketplace platform, according to the release. Fast forward to February 2020, and operations began in Monterrey, and now, Guadalajara. And it’s been rallying more Lifters onto its system and has around 600.
Given these numbers, Mexico certainly has been holding Liftit’s attention. But that’s because its operations in this country hold an important share of its income. The startup reported that around 25 percent of its earnings come from its operations in Mexico.
And with the roadmap to operate in Guadalajara already drawn, its bases are quite covered.
Related article: 5 startups from Monterrey developing logistics technology solutions
Logistics troubles
I know, I know. You’re probably sick of hearing about coronavirus (no pun intended).
But the malaise is really shifting dynamics for countries, major corporations, and budding startups alike. And innovative solutions are emerging to help deter its spread.
However, there’s also another big reality that needs to be addressed. Startups centered on large-scale logistics and freight like Liftit and Nowports are being hard hit with trade slowdowns. Consequently, it’ll be interesting to see how they cope.
Especially in terms of raising equity, expanding, or battening down until the coronavirus storm settles. Those that have money saved for a rainy day may fare better than those who don’t.
Related articles: Tech and startups from Mexico!
-ML
