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Maersk invests in startup Loadsmart

Maersk’s venture investment arm is part of a $21.6 million funding round in the New York startup

A.P. Moeller-Maersk A/S is investing in U.S. freight-booking startup Loadsmart Inc. as the container shipping giant works to extend its services beyond maritime transportation.

Maersk’s venture investment arm is leading a $21.6 million Series A funding round for Loadsmart, together with Connor Capital SB and Chromo Invest. Maersk said its stake in the New York-based company provides “huge potential” for integrating its ocean-shipping services with Loadsmart’s trucking technology.

The startup, which focuses on booking full-truckload shipments for such shippers as Daimler AG ,Anheuser-Busch InBev SA and Electrolux AB, says it will use the funds primarily to reach new customers.

“We lead with technology and we complement it with strategic partnerships that accelerate our mission to move more with less,” said Loadsmart Chief Executive Ricardo Salgado.

Read more on Wall Street Journal.

Source: Wall Street Journal
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