Genesee & Wyoming invests in short-haul road freight startup Cargomatic

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Genesee & Wyoming has invested 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 California, 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 US with plans to expand internationally.

Michael Miller, Chief Commercial Officer of G&W, commented: “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.”

Source: Genesee & Wyoming