NEW YORK, March 08, 2022 (GLOBE NEWSWIRE) -- LatAm logistics startup Nuvocargo, the first all-in-one digital platform focused on U.S.-Mexico cross-border trade, announced today that it has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2022. Nuvocargo ranked second as the Most Innovative Company in Latin America in 2022.
This year’s list honors businesses that are making the biggest impact on their industries and culture as a whole—ultimately thriving in today’s ever-changing world. These companies are creating the future today with some of the most inspiring accomplishments of the 21st century. In addition to the World's 50 Most Innovative Companies, 528 organizations are recognized across 52 categories.
“We are truly honored to receive this recognition from Fast Company. I am extremely proud of the innovations our international teams have created and the impact it's making in the logistics industry and especially cross-border trade. I believe that software coupled with exceptional service in logistics can unlock incredible potential for both people and companies,” said Deepak Chhugani, Co-founder and CEO of Nuvocargo. “We’ve built Nuvocargo’s offerings with people at its core, to simplify cross-border trade. The U.S.-Mexico route is one of the world’s largest trade corridors, and is expected to grow even larger due to both geopolitical and structural reasons. For this relationship to thrive and along with it individuals and companies across the two nations, excellence in logistics will be key.”
Nuvocargo acts as an extension of its customers’ team so they can outsource all the complexities associated with their cross-border supply chain, and allow them to focus on growing their business. Nuvocargo’s all-in-one digital platform allows its customers to secure their freight and gain visibility into movements and workflows. They can also find solutions to fit the needs of their cross-border trade including, customs clearance, cargo insurance, trade financing reporting and more. Nuvocargo’s supply chain financing services, including its newest carrier offering QuickPay, provides best-in-class financial solutions to a massive market that has long been ignored. Nuvocargo continues to provide new products and services that help carriers, SMBs, and enterprises across countries with multiple pain points that go beyond the actual movement of goods.
Nuvocargo recently raised $20.5M, led by Tiger Global Management, at a $180M valuation - nearly tripling the valuation from its last fundraise in April 2021. This additional funding brings Nuvocargo’s total raised to date to $37.8M since its launch in late 2019. Nuvocargo continues to grow rapidly, expanding its product solutions in the industry, and strengthening its existing carrier and shipper network on both sides of the border. It is also developing new revenue streams and developing additional financial products for shippers and carriers, targeting the $125B+ market for supply chain finance between the US and Mexico. Nuvocargo expects to grow the team to over 250+ employees across the US and Mexico and generate tens of millions of dollars in annual revenue in 2022.
Fast Company’s editors and writers sought out the most groundbreaking businesses across the globe and industries. They also judged nominations received through their application process. The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.
“The world’s most innovative companies play an essential role in addressing the most pressing issues facing society, whether they’re fighting climate change by spurring decarbonization efforts, ameliorating the strain on supply chains, or helping us reconnect with one another over shared passions,” said Fast Company Deputy Editor David Lidsky.
Fast Company’s Most Innovative Companies issue (March/April 2022) is available online here and on newsstands beginning March 15. A full list of companies recognized can be found here https://www.fastcompany.com/most-innovative-companies/list.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
About Nuvocargo
LatAm logistics startup Nuvocargo is the first all-in-one digital platform focused on U.S.-Mexico cross-border trade – one of the largest trade routes in the world. Modernizing a $2T industry that’s been mostly reliant on paper, fast-growing Nuvocargo combines proprietary software with a team of bi-lingual experts to seamlessly and transparently manage end-to-end cargo movement in a single platform. The company has the most experience on both sides of the border, unique access to hard-to-get routes, and add-on services such as warehousing, insurance and financing – everything a shipper or carrier needs to simplify logistics. Learn more at nuvocargo.com/en.
Media Contact:
Gina Rezendes (for Nuvocargo)
617-640-9278
gina@big-swing.com
