Investment focused on driving strategic synergies to grow hyperlocal business Shadowfax to grow presence in 1000 cities and is on track to become the largest logistics player in India.
“What we are going to see over time is a broadening of vertical applications for transportation,” Paul Asel said.
“We are moving from transportation as an asset to mobility as a service (MaaS),” said Paul Asel, Managing Partner, NGP Capital.
Getaround, a car-sharing platform, will enter the unicorn club with a roughly $200 million equity financing. Getaround acquired NGP Capital portfolio company Drivy earlier this year.
The round was led by Activate Capital, with new investors including NGP Capital, BNP Paribas, and Total Ventures.
The trucking world has been inundated in recent years by startups all aiming to solve the big three problems with freight: safety, fuel costs and driver shortages. For Peloton Technology, a Silicon Valley company that launched in 2011, the answer doesn’t strip out the human driver.
Abhishek Bansal, co-founder & CEO of Shadowfax, speaks to Indian Transport & Logistics News on their mission of connecting over a million micro entrepreneurs and suppliers in logistics industry, and expecting to grow 150 percent y-o-y.
Paul Asel, Managing Partner at NGP Capital, tells how investments in shared mobility are not only shaping the future of mass transit, but aiding cities in rethinking how they’re able to utilise space, detailing some of the specific investments he has made in mobility companies in recent years.
Specializing in an overlooked trucking niche has helped NEXT get a fast start, and the company is just scratching the surface of a lucrative national market worth $60 billion.
Fueled by its $300 million Series D round led by Softbank last August, Getaround is making its second-ever acquisition this year with a $12 million purchase of Norwegian car rental startup Nabobil. This acquisition brings Getaround into seven European countries.
German auto giant Volkswagen on Tuesday announced its foray into the shared mobility space with a tie-up with self-drive car rental platform Zoomcar. Read more from Livemint!
NEXT Trucking, a FreightTech pioneer that connects shippers and carriers, has struck an agreement to open an 18-acre drayage facility to ease congestion at the ports of Los Angeles and Long Beach, the two largest seaports in the US. Read more from Port Technology International.