• Why Alphabet just led a $185 million investment round in a trucking startup

    25 days ago - By Business Insider

    Alphabet's investment arm, CapitalG, just announced a $185 million investment in Convoy, a technology-enabled trucking network.
    Convoy allows trucking and shipping companies to connect over an app, rather than the traditional way of using a phone broker.
    It's not Alphabet's first move into the world of freight. Its autonomous driving arm Waymo has developed self-driving trucks that have already made deliveries around the US.
    Tech companies like Tesla and Uber are also investing into the $740 billion trucking industry .
    Trucking is a $740 billion industry - and one that relies on a lot of...
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  • Why Alphabet just led a $185 million investment round in a trucking startup

    Why Alphabet just led a $185 million investment round in a trucking startup

    25 days ago - By Business Insider

    Alphabet's investment arm, CapitalG, just announced a $185 million investment in Convoy, a technology-enabled trucking network.
    Convoy allows trucking and shipping companies to connect over an app, rather than the traditional way of using a phone broker.
    It's not Alphabet's first move into the world of freight. Its autonomous driving arm Waymo has developed self-driving trucks that have already made deliveries around the US.
    Tech companies like Tesla and Uber are also investing into the $740 billion trucking industry .
    Trucking is a $740 billion industry - and one that relies on a lot of...
    Read more ...

     

  • On-demand trucking app Convoy raises $185M at $1B valuation

    On-demand trucking app Convoy raises $185M at $1B valuation

    25 days ago - By Tech Crunch

    CapitalG, the growth equity arm of Alphabet, has led the $185 million round in Convoy, its first investment in the Seattle-based tech-enabled trucking network.
    The round brings Convoy's total raised to $265 million and values the company at $1 billion. New investors T. Rowe Price and Lone Pine Capital participated in the financing alongside existing investors.
    Convoy has long been backed by Greylock Partners, which led the startup's Series A in 2015. Y Combinator is also a backer. In an unusual move last year, Y Combinator led a $62 million round in Convoy in what was the first time the...
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