Forager

Matt Silver launches US-Mexico logistics tech startup Cargado

Founder and former CEO of Forager Matt Silver announced Monday the start of Cargado, a new venture aimed at creating a seamless platform for U.S.-Mexico cross-border logistics.

The startup, which has already secured $3 million in pre-seed funding, “will address the unique challenges of moving freight between the U.S. and Mexico using innovative new technology,” Silver said.

“There are a lot of other companies that are starting to look at either buying Mexican companies or investing in leadership,...

https://www.freightwaves.com/news/matt-silver-launches-us-mexico-logistics-tech-startup-cargado

Arrive Logistics acquires Forager for cross-border FreightTech

Austin, Texas-based Arrive Logistics announced Tuesday it has acquired the cross-border freight platform Forager.

“By integrating Forager’s cross-border platform into our transportation management system, Arrive can continue to deliver and expand services to Forager’s customers while providing new capabilities to our existing partners,” said Matt Pyatt, founder and CEO of Arrive Logistics. “Through the network, expertise and technology of both organizations, Arrive will scale our cross-border...

https://www.freightwaves.com/news/arrive-logistics-acquires-forager-for-cross-border-freighttech

Cross-border FreightTech platform Forager seeks $50M exit

Cross-border logistics technology platform Forager has begun to seek an exit. 

According to sources with knowledge of the deal, the Chicago-based tech-enabled freight brokerage has engaged an investment banker, seeking a strategic buyer at a $50 million valuation.

While FreightWaves is told the company does have hundreds of millions of dollars of freight in its marketplace, including a carrier network of 3,000 companies with about 110,000 trucks, the company hit a $24 million revenue run rate at...

https://www.freightwaves.com/news/cross-border-freighttech-platform-forager-seeks-50m-exit

Borderlands: Mexico faces growing shortage of truck drivers

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Mexico faces growing shortage of truck drivers; Mexico creates new national customs agency; CBP expands Santa Teresa port of entry cargo capacity; and DHL Express to invest $360M in Americas infrastructure.

Shortage of truck drivers growing in Mexico, experts say

A perfect storm of factors is causing a growing shortage of truck drivers across Mexico, experts say. 

The...

https://www.freightwaves.com/news/mexico-faces-growing-shortage-of-truck-drivers

Borderlands: Trade experts take stock on USMCA’s first anniversary

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Trade experts take stock on USMCA’s first anniversary; more factories and jobs for Mexico; Quiet 3PF opens distribution center in Dallas; and border officials see uptick in migrants hiding in trains.

Trade experts take stock on USMCA’s first anniversary

July 1 will mark the first anniversary of the United States-Mexico-Canada Agreement (USMCA).

The trade pact was...

https://www.freightwaves.com/news/trade-experts-take-stock-on-usmcas-first-anniversary

Borderlands: Mexico records 692 commercial cargo thefts in April

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Mexico records 692 commercial cargo thefts in April; VW cuts production in Mexico and Tennessee plants; ATRG acquires Texas trailer fleets; and CBP officers seize $5.5M worth of meth in Otay Mesa. 

Mexico records 692 commercial cargo thefts in April

Hundreds of commercial trucks on Mexico’s highways are being hijacked for their cargo every month, with criminal gangs...

https://www.freightwaves.com/news/mexico-records-692-commercial-cargo-thefts-in-april

Cross-border logistics no walk in the park — Midday Market Update

MMU 11/24

On this episode of Midday Market Update, Kaylee Nix and Michael Vincent get a close look at the intricacies of moving freight across borders. They are joined by FreightWaves’ Zach Strickland for a market update and Anthony Smith for a look at Q1 GDP and unemployment numbers. 

First in headlines, Andrew Cox looks at Echo Global Logistics’ record-breaking first-quarter earnings, a shocking report from GrubHub and pressure on the U.S. Department of Transportation to support agriculture exporters by...

https://www.freightwaves.com/news/cross-border-logistics-no-walk-in-the-park-midday-market-update

Auto industry faces more work stoppages due to chip shortage

Ford Motor Co. expects to lose about 50% of its planned second-quarter production, about $2.5 billion in earnings, due to the global semiconductor chip shortage affecting the industry. 

“The semiconductor shortage and the impact to production will get worse before it gets better. In fact, we believe our second quarter will be the trough for this year,” CEO Jim Farley said during the company’s earnings call Wednesday. 

Matt Silver, CEO of cross-border logistics technology platform Forager, said...

https://s29755.pcdn.co/news/auto-industry-faces-more-work-stoppages-due-to-chip-shortage

Borderlands: Why does innovation stop at the Mexico border?

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: Why does innovation stop at the Mexico border?; Arkansas trucking operation expands into Texas; Samsara releases fuel efficiency report; and VW begins exporting Taos from Mexico.

Why does innovation stop at the Mexico border?

While working at Coyote Logistics, Matt Silver said one of the most important things he learned about United States-Mexico trade was that there...

https://s29755.pcdn.co/news/why-does-innovation-stop-at-the-mexico-border

Borderlands: El Paso border crossing aims to recover from huge 2020 trade drop

Borderlands is a weekly rundown of developments in the world of United States-Mexico cross-border trucking and trade. This week: El Paso border crossing looks to rebound in 2021; logistics firm expands with Dallas shipping hub; Suddath acquires Texas-based Daryl Flood Inc.; and $2 million of meth hidden in shipment of rugs.

El Paso border commercial crossing looks to rebound in 2021

The coronavirus pandemic delivered a heavy hit last year to commercial trade at the United States-Mexico border...

https://s29755.pcdn.co/news/borderlands-el-paso-border-crossing-aims-to-recover-from-huge-2020-trade-drop

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