The company Lipigas, which specializes in gas distribution for various uses, invested USD$13.4 million in the Chilean Rocktruck logistics startup, acquiring 70% of the company.
This move is part of Lipigas’ strategy to fully transform, expand, and diversify its operations by 2030, leveraging its logistics, digital, and service capabilities.
Rocktruck, a startup that began operations in late 2018 with self-financing, generated annual sales of over USD$14 million in four years without resorting to venture capital investment.
The startup began expanding across the region recently, starting operations in Peru and Colombia. It has a team of over 100 people and a fleet of 600 vehicles, including 61 trucks of its own, covering over two million kilometers per month.
“With Lipigas’ entry, the growth will be exponential. The USD$13.4 million investment will allow us to invest in strategic clients, electromobility, triple impact, and internationalization to increase the company’s valuation by 2027 significantly.”
“And on the other hand, the progressive acquisition towards the fifth year is an additional motivation to work even harder towards this goal, to become the most significant logistic reference in Chile and one of the most representative in Latin America,” explained Eduardo Segovia, General Manager of Rocktruck.
During Lipigas’ investment plan, aiming to acquire 100% ownership within five years, the founders and current directors of Rocktruck will continue to lead the company.
Additionally, Lipigas will contribute its knowledge in logistics and digital development to assist the company in achieving its ambitious growth goals.
Lipigas established its Logistics and Digital Development subsidiary to address such businesses and invested in other startups like Frest, which focused on online sales of fruits and vegetables.
Aligned with its strategy, Lipigas will continue its expansion in the energy sector through its new electrical subsidiary Evol and the development of more sustainable solutions, such as producing renewable liquefied natural gas (R-LNG) for long-distance trucks. These initiatives will take place in Chile, Colombia, and Peru.
