Matt Silver, former CEO of Forager, has announced the launch of Cargado, a new venture focused on optimizing U.S.-Mexico cross-border logistics. The startup, already backed with $3 million in pre-seed funding, aims to tackle the distinct challenges of freight movement between the U.S. and Mexico through innovative technology. While details on Cargado’s operational specifics remain under wraps, Silver emphasizes the growing need for specialized software and technology in this sector, given the increasing involvement of logistics providers, trucking companies, and shippers in Mexico.
Cargado’s initial funding will be used to develop its team and technology, with plans to introduce the product to a select group of beta users by the end of the first quarter. The company’s launch comes at a time when Mexico’s trade with the U.S. has seen a significant increase, rising 2.79% year-over-year to $738.4 billion.
Co-founder and Chief Technology Officer Rylan Hawkins, a former founding engineer at Convoy and senior program manager at Microsoft, joined Cargado after recognizing the potential in the U.S.-Mexico cross-border freight market. The Laredo port of entry, a major trade gateway, highlighted the shift in U.S. supply chains towards Mexico.
Cargado’s pre-seed round was led by Ty Findley, with contributions from various logistics and technology professionals, including FreightWaves founder and CEO Craig Fuller. The investment underscores the importance of strengthening North American supply chains, particularly in alignment with Mexico’s nearshoring capabilities.