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Genesee & Wyoming invests in Cargomatic

Published 09 February 2018

Genesee & Wyoming (G&W) has made an investment in and formed a strategic alliance with Cargomatic, a technology platform connecting shippers and truck carriers with a focus on short-haul markets.

Terms of the investment were not disclosed.

Founded in 2013 and headquartered in Long Beach, Calif., Cargomatic focuses on the fragmented short-haul and drayage trucking markets connecting shippers and carriers real-time via its web platform and apps.

 The Cargomatic platform facilitates increased truck capacity, real-time tracking and an efficient transportation solution for shippers while providing owner-operator and smaller truck carriers visibility to traffic volumes and operational flexibility.

Currently operating in Los Angeles, San Francisco, Chicago, Seattle, Dallas, Houston and New York, Cargomatic is expanding across the U.S. with plans to expand internationally.

G&W chief commercial officer Michael Miller said: “The Cargomatic team has built a world-class platform combining the best of technology and streamlined processes to connect shippers and carriers to drive supply chain efficiency.

“In addition to our investment in Cargomatic, we are pleased to add the Cargomatic platform as an extension of G&W’s rail service at terminal and transload locations across G&W’s U.S. rail network and to work with the Cargomatic team as they expand internationally to Europe and Australia.

“By extending our first and last mile service offering, Cargomatic not only improves the efficiency of first and last mile logistics between rail and road, but it also simplifies the multimodal touchpoints for our customers.”

Cargomatic CEO Richard Gerstein said: “This relationship with G&W will create unprecedented transparency and facilitate ease-of-use for first and last mile logistics networks associated with rail; setting the stage for what we view as the semi-autonomous future of transportation: scalable long-haul rail, one train hauling hundreds of containers and railcars - with local, human powered pickup and delivery.”

G&W owns or leases 122 freight railroads organized in nine locally managed operating regions with 8,000 employees serving 3,000 customers.

Headquartered in Long Beach, Calif., Cargomatic is a technology-based transportation company and marketplace focused on first and last mile transportation.

Cargomatic investors include: Canaan Partners, Volvo Group Venture Capital, Xplorer Capital, Morado Venture Partners, Acequia Capital, SV Angel, Muse Family Enterprises, Structure Capital and Sherpa Capital.

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Terms of the investment were not disclosed.

Founded in 2013 and headquartered in Long Beach, Calif., Cargomatic focuses on the fragmented short-haul and drayage trucking markets connecting shippers and carriers real-time via its web platform and apps.

 The Cargomatic platform facilitates increased truck capacity, real-time tracking and an efficient transportation solution for shippers while providing owner-operator and smaller truck carriers visibility to traffic volumes and operational flexibility.

Currently operating in Los Angeles, San Francisco, Chicago, Seattle, Dallas, Houston and New York, Cargomatic is expanding across the U.S. with plans to expand internationally.

G&W chief commercial officer Michael Miller said: “The Cargomatic team has built a world-class platform combining the best of technology and streamlined processes to connect shippers and carriers to drive supply chain efficiency.

“In addition to our investment in Cargomatic, we are pleased to add the Cargomatic platform as an extension of G&W’s rail service at terminal and transload locations across G&W’s U.S. rail network and to work with the Cargomatic team as they expand internationally to Europe and Australia.

“By extending our first and last mile service offering, Cargomatic not only improves the efficiency of first and last mile logistics between rail and road, but it also simplifies the multimodal touchpoints for our customers.”

Cargomatic CEO Richard Gerstein said: “This relationship with G&W will create unprecedented transparency and facilitate ease-of-use for first and last mile logistics networks associated with rail; setting the stage for what we view as the semi-autonomous future of transportation: scalable long-haul rail, one train hauling hundreds of containers and railcars - with local, human powered pickup and delivery.”

G&W owns or leases 122 freight railroads organized in nine locally managed operating regions with 8,000 employees serving 3,000 customers.

Headquartered in Long Beach, Calif., Cargomatic is a technology-based transportation company and marketplace focused on first and last mile transportation.



Source: Company Press Release