Nowports, a digital cargo company in Latin America, announced that it will begin operations in Brazil. The company seeks to become a key player in the promising logistics and cargo industry of this country.
The company focuses on automating warehouses with sensors and tracking connected shipments. It seeks to allocate a large part of its recent capital investment to its growth in the Latin American country.
Nowports recently raised $ 23 million in a Series A round led by Monashees. The round was extended with $8 million from investors including Justin Mateen, Andy Shah, and Dominik Palsanik.
Operations in Brazil are a key part of Nowports’ global positioning strategy. Caio Bolognesi, Managing Partner of Monashees, highlighted in a statement: “The explosive growth of Nowports shows that the team has a deep understanding of its customers’ needs and offers extraordinary service. We are very excited to see that the service is now available to Brazilian customers who have to navigate complex import and import processes”.
The arrival in this country will have a team of 14 people, and the company wants to reach 100 employees in the next 18 months. Later, Nowports will expand into Argentina.
Digitize international trade
Brazil is a key market for Nowports due to its location, since it had an extraordinary performance during the pandemic.
For example, the port of Santos topped the list of the largest maritime trade in the region with a growth of 2.4% from 2019 to 2020.
Nowports seeks to streamline Brazil’s logistics thanks to its ability to improve its import and export processes through technology, with cargo tracking, digitized documents, automatic reports, credit facilities, merchandise insurance, and predictions of travel times.
The company, created by Alfonso de los Ríos and Maximiliano Casal, operates in the three most active countries in terms of trade and logistics in the region: Brazil, Mexico, and Chile.