At a Glance
Nowports has raised $16M in Series A funding from Mouro Capital and plans to streamline its process, solidify important routes and expand its logistics and financial operations, adding value as a digital freight forwarder for Latin American Companies.
Nowports, a digital freight forwarder helping companies improve port processes, has announced its Series A fundraise of $16M from Mouro Capital with participation from Foundation Capital and other active investors – Broadhaven Ventures, Monashees, Base10 Partners and Y Combinator.
Nowports stated that it had raised $24 million to date since its inception to digitize the freight forwarder industry and strengthen its hold across routes from Asia, the US and Latin America. Founded in 2018, the company provides a platform for companies to manage their import and export processes in real-time. It aims to address the slow and inefficient manual processes in logistics operations that cause considerable losses for companies.
Nowports also provides its clients with tools to track their cargo, centralize their shipment history, access financial information and bestow them with the ability to make informed decisions.
In an official blog statement, Nowports stated that the funding would help streamline its import/export functionalities, solidify its most important routes, expand its logistics and financial services and promote its added value as a digital freight forwarder for Latin American companies. The company is also growing its team in all areas ranging from commercial tech marketing to administrative and customer success.
Chris Gottschalk, a senior advisor at Mouro Capital, said,
“The Nowports platform brings transparency and technology to a global client base, and we look forward to working with the team to accelerate its growth trajectory.”
Michael Sidgmore, co-Founder and partner at Broadhaven Ventures, a company that backed Nowports during their seed funding, stated that Nowpots has created an industry-leading technology to help its customers and added,
“Nowports has created industry-leading technology to help its customers know when to turn starboard or port side and we’ve been thrilled to back them since leading their Seed round in an all-important mission to digitize the world’s supply chain.”Michael Sidgmore, co-Founder and partner at Broadhaven Ventures