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Liftit raises US $ 22.5 million in Series B by automating logistics

Liftit co-founder Ángel Celis says these resources will allow them to invest in artificial intelligence and machine learning to reduce operational costs of the process. Liftit continues to make its way, with its technological platform, as an advanced player in the multimillion dollar logistics business in Latin America , with operations in Colombia, Brazil, Mexico, Chile and Ecuador. The Bogotá-based company revealed this Wednesday that it obtained US $ 22.5 million in its most recent investment round, in series B, led by Cambridge Capital, with the participation of IFC, Monashees, Jaguar Ventures, NXTP Ventures, among other important investors. . "These resources will be used to guarantee our expansion process in the countries we operate, we want to have omnichannel in the main road corridors in the countries in which we operate ," Ángel Celis Botto, co-founder of Liftit, told Forbes. "They will allow us to strengthen our executive team and focus on process automation through our technology." Ben Gordon and Matt Smalley of Cambridge Capital and former Amazon vice-president of global logistics Ed Feitzinger will sit on the Liftit board of directors. With the closing of this round, in total they have raised US $ 39.2 million, having among their previous investors Mercado Libre and Grupo Bolívar. Liftit was founded in 2017 by three Colombians Brian York, the CEO; Ángel Celis Botto, the CPO and Felipe Betancourt, the vice president of business development. The first was a web page developed in Ángel's house that focused on moving people. Those three were multiplied by a hundred; now there are 300 on the team. Over time it evolved to fight for corporate clients of the big leagues, such as Walmart, Pepsi and Grupo Bimbo, with the platform of independent transporters on demand that is making 150,000 monthly deliveries and billing more than US $ 3 million each month. The arrival of fresh capital will allow them to continue automating the process and developing their own technology to digitize logistics in the region. Liftit CEO Brian York believes that working with Cambridge Capital, which has "deep global logistics experience", will contribute to high growth in 2021 "and beyond." By automating and optimizing delivery processes using artificial intelligence and machine learning, those who use the platform can reduce their operational costs. With it, they can contract and execute any type of delivery, facilitating the tracking of the process in real time and the traceability of key metrics. “Our experience as global business creators in the supply chain, and our unique perspective as operators, strategic advisors and investors focused exclusively on logistics, will allow us to help Liftit continue to build its moat in the logistics technology business. of last mile transportation in Latin America, ” says Ben Gordon, managing partner of Cambridge Capital. "We think that's a fast-growing market that moves billions of dollars a year." In turn, the director of Cambridge Capital Matt Smalley, comments that the continued exponential growth of this startup and the fact that they provide a unified service in several countries of the region to the largest load generators on the continent, “confirm the great market opportunity and its excellent product-market fit ”. "It is solving an important problem for load generators in Latin America, connecting transporters and transport capacity through localized technology to meet the unique needs of the region," adds Ed Feitzinger, who was recently Vice President of Global Logistics at Amazon, Prior to that, he served as CEO of a global freight forwarder operating in 59 countries. For Feitzinger, distribution costs in Latin America are among the highest in the world, and short-distance transportation, specifically the last mile, is a big problem for carriers in Latin America. "It offers a unique combination of technology and operational capability to solve that problem." The truth is that Liftit joins the club of the few technology companies that have been able to raise capital amid the global pandemic of COVID-19, which has led to uncertainty and economic recession, but with the integration of these heavyweights something is clear : they have millions of kilometers to go. Original Source: https://forbes.co/2020/07/08/emprendedores/liftit-levanta-us225-millones-en-serie-b-automatizando-la-logistica/ from Blogger https://ift.tt/3gBlqzM

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Liftit co-founder Ángel Celis says these resources will allow them to invest in artificial intelligence and machine learning to reduce operational costs of the process. Liftit continues to make its way, with its technological platform, as an advanced player in the multimillion dollar logistics business in Latin America , with operations in Colombia, Brazil, Mexico, Chile and Ecuador. The Bogotá-based company revealed this Wednesday that it obtained US $ 22.5 million in its most recent investment round, in series B, led by Cambridge Capital, with the participation of IFC, Monashees, Jaguar Ventures, NXTP Ventures, among other important investors. . "These resources will be used to guarantee our expansion process in the countries we operate, we want to have omnichannel in the main road corridors in the countries in which we operate ," Ángel Celis Botto, co-founder of Liftit, told Forbes. "They will allow us to strengthen our executive team and focus on process automation through our technology." Ben Gordon and Matt Smalley of Cambridge Capital and former Amazon vice-president of global logistics Ed Feitzinger will sit on the Liftit board of directors. With the closing of this round, in total they have raised US $ 39.2 million, having among their previous investors Mercado Libre and Grupo Bolívar. Liftit was founded in 2017 by three Colombians Brian York, the CEO; Ángel Celis Botto, the CPO and Felipe Betancourt, the vice president of business development. The first was a web page developed in Ángel's house that focused on moving people. Those three were multiplied by a hundred; now there are 300 on the team. Over time it evolved to fight for corporate clients of the big leagues, such as Walmart, Pepsi and Grupo Bimbo, with the platform of independent transporters on demand that is making 150,000 monthly deliveries and billing more than US $ 3 million each month. The arrival of fresh capital will allow them to continue automating the process and developing their own technology to digitize logistics in the region. Liftit CEO Brian York believes that working with Cambridge Capital, which has "deep global logistics experience", will contribute to high growth in 2021 "and beyond." By automating and optimizing delivery processes using artificial intelligence and machine learning, those who use the platform can reduce their operational costs. With it, they can contract and execute any type of delivery, facilitating the tracking of the process in real time and the traceability of key metrics. “Our experience as global business creators in the supply chain, and our unique perspective as operators, strategic advisors and investors focused exclusively on logistics, will allow us to help Liftit continue to build its moat in the logistics technology business. of last mile transportation in Latin America, ” says Ben Gordon, managing partner of Cambridge Capital. "We think that's a fast-growing market that moves billions of dollars a year." In turn, the director of Cambridge Capital Matt Smalley, comments that the continued exponential growth of this startup and the fact that they provide a unified service in several countries of the region to the largest load generators on the continent, “confirm the great market opportunity and its excellent product-market fit ”. "It is solving an important problem for load generators in Latin America, connecting transporters and transport capacity through localized technology to meet the unique needs of the region," adds Ed Feitzinger, who was recently Vice President of Global Logistics at Amazon, Prior to that, he served as CEO of a global freight forwarder operating in 59 countries. For Feitzinger, distribution costs in Latin America are among the highest in the world, and short-distance transportation, specifically the last mile, is a big problem for carriers in Latin America. "It offers a unique combination of technology and operational capability to solve that problem." The truth is that Liftit joins the club of the few technology companies that have been able to raise capital amid the global pandemic of COVID-19, which has led to uncertainty and economic recession, but with the integration of these heavyweights something is clear : they have millions of kilometers to go. Original Source: https://forbes.co/2020/07/08/emprendedores/liftit-levanta-us225-millones-en-serie-b-automatizando-la-logistica/

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Taking a page from the consumer electronics playbook, Daimler Trucks North America LLC plans to take the technology clutter out of truck cabs by installing a single platform right at the factory floor.

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Brad Jacobs, chairman, and CEO of XPO Logistics (NYSE: XPO), is committed to improving the diverse culture XPO is striving to build for its employees, but doing so requires...

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Benjamin Gordon: Parts of America are Starting to Reopen, What Does This Mean for Supply Chains?

On March 11, 2020, the World Health Organization announced the COVID-19 (also known as novel coronavirus) was a global pandemic and health emergency. Subsequently, the United States of America and other countries around the world fell into an economic recession. As more businesses closed (some temporarily, some permanently), it became more and more difficult to predict how, when and if the global economy would bounce back. America has been one of the slower countries in terms of reopening, but this is due to the difficulties America has faced in controlling the spread of COVID-19 compared to other countries with similar economies. Right now is the best time to look to consultants for answers. Consultants, like CEO of Cambridge Capital Benjamin Gordon, are experts in their field. In the case of Benjamin Gordon, he is an expert on supply chain management and logistics. His company, Cambridge Capital, is a West Palm Beach-based private equity investor in transportation, logistics, and supply chain technology businesses. The Cambridge team includes CEOs and leaders who have built companies like GENCO, FedEx Supply Chain, Kuehne & Nagel LeadLogistics, UPS, and others. Benjamin is also Editor-in-Chief of SUPPLY CHAINS, Cambridge’s publication that focuses on trends and opportunities resulting from both old-economy transportation and new-economy technology. In addition to his current work at Cambridge Capital, Gordon also founded BG Strategic Advisors (BGSA), a West Palm Beach-based investment banking firm for the supply chain sector. BGSA helps supply chain CEOs to maximize their value via mergers, acquisitions, investments, and other strategic initiatives. Benjamin has worked with firms such as UPS, DHL, Kuehne & Nagel, Agility Logistics, NFI Logistics, GENCO, Nations Express, Raytrans, Echo Global, Dixie, Wilpak, and others. At BGSA, Benjamin Gordon leads the annual BGSA Supply Chain conference, the largest annual conference for CEOs from all segments of the global supply chain. As a recognized expert in the supply chain and technology sector, Ben Gordon is trusted for his insights on the market. Benjamin Gordon has been published in Fortune, CNBC, SupplyChainBrain, Data Driven Investor, Supply Chain 247, Freightwaves, and Supply Chain Management Review. He has been interviewed or featured by the New York Times, the Wall Street Journal, Forbes, BusinessWeek, Logistics Management, ABC, Lehrer News Hour, Journal of Commerce, Transport Topics, Supply Chain Management Quarterly, and Traffic World. Although the current state of the economy may seem grim, it is important to look at historical averages and trends to predict what may happen in the coming months. As people from all over the world come together to rebuild the country, it is important to trust people like Benjamin Gordon. Consultants like him have answers to questions about economics and aspects of business that many lay people may not be too familiar with. Supply chain businesses are still working through problems as they arise. Currently, all aspects of business are affected by the pandemic. There are not isolated incidents, since everything is connected. Production bleeds into logistics which bleeds into consumer markets. As businesses reopen, we may see more problems, but hopefully, we will also have more answers. Also US based needy students can apply for Benjamin Gordon Palm Beach Scholarship. Original Source: https://www.wrcbtv.com/story/42175725/benjamin-gordon-parts-of-america-are-starting-to-reopen-what-does-this-mean-for-supply-chains

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On March 11, 2020, the World Health Organization announced the COVID-19 (also known as novel coronavirus) was a global pandemic and health emergency. Subsequently, the United States of America and other countries around the world fell into an economic recession. As more businesses closed (some temporarily, some permanently), it became more and more difficult to predict how, when and if the global economy would bounce back. America has been one of the slower countries in terms of reopening, but this is due to the difficulties America has faced in controlling the spread of COVID-19 compared to other countries with similar economies.

Right now is the best time to look to consultants for answers. Consultants, like CEO of Cambridge Capital Benjamin Gordon, are experts in their field. In the case of Benjamin Gordon, he is an expert on supply chain management and logistics. His company, Cambridge Capital, is a West Palm Beach-based private equity investor in transportation, logistics, and supply chain technology businesses. The Cambridge team includes CEOs and leaders who have built companies like GENCO, FedEx Supply Chain, Kuehne & Nagel LeadLogistics, UPS, and others. Benjamin is also Editor-in-Chief of SUPPLY CHAINS, Cambridge’s publication that focuses on trends and opportunities resulting from both old-economy transportation and new-economy technology. In addition to his current work at Cambridge Capital, Gordon also founded BG Strategic Advisors (BGSA), a West Palm Beach-based investment banking firm for the supply chain sector. BGSA helps supply chain CEOs to maximize their value via mergers, acquisitions, investments, and other strategic initiatives. Benjamin has worked with firms such as UPS, DHL, Kuehne & Nagel, Agility Logistics, NFI Logistics, GENCO, Nations Express, Raytrans, Echo Global, Dixie, Wilpak, and others. At BGSA, Benjamin Gordon leads the annual BGSA Supply Chain conference, the largest annual conference for CEOs from all segments of the global supply chain.

As a recognized expert in the supply chain and technology sector, Ben Gordon is trusted for his insights on the market. Benjamin Gordon has been published in Fortune, CNBC, SupplyChainBrain, Data Driven Investor, Supply Chain 247, Freightwaves, and Supply Chain Management Review. He has been interviewed or featured by the New York Times, the Wall Street Journal, Forbes, BusinessWeek, Logistics Management, ABC, Lehrer News Hour, Journal of Commerce, Transport Topics, Supply Chain Management Quarterly, and Traffic World.

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Santosh interviews Ben Gordon of Cambridge Capital to discuss how Ben got involved in the supply chain industry, investing in the supply chain, building a winning team, and strategic advice for logistics companies.

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Trucking Looks to Bundle Up Technology

A tablet on a semi-truck dashboard that drivers use to manage Platform Science's connected vheicle technology

Putting a computer in the cab of a big rig was a radical step back in 1988. Trucking companies since then have added as many as 10 separate devices into vehicles, tracking everything from location to the time drivers spend behind the wheel and how often they pump the brakes.

Taking a page from the consumer electronics playbook, Daimler Trucks North America LLC plans to take the technology clutter out of truck cabs by installing a single platform right on the factory floor. The software operates with the truck-maker’s touch screen, streaming data back to fleet managers and enabling drivers to manage the tech in their 18-wheelers the way they might handle a smartphone, even as they are hauling 80,000-pounds down the road. The idea is to help harness the torrent of data and reduce the clutter and duplication that has come as layers of technology have been bolted onto trucks. That should streamline work for drivers and fleet managers who now cope with a mounting pile of transportation apps and telematics equipment. The technology from transport startup Platform Science works something like Apple Inc.’s App Store. The open platform lets trucking operators to add a customized mix of third-party software and connectivity services without having to install an array of aftermarket hardware. It also enables the apps to talk to one another, pulling data from the back end so drivers don’t have to keep entering the same information, such as their name or vehicle identification number. “We are taking the model applied in the consumer industry and putting it on the truck,” said Anil Khanna, director of connectivity for the digital vehicle solutions division at Daimler Trucks North America. The company will begin rolling out the technology next year. The truck-maker’s parent company, Daimler AG , is the largest new investor in Platform Science’s recent $42 million Series B funding round, which was led by the venture-capital arm of industrial real-estate giant Prologis Inc., an existing investor. Venture firm 8VC, NewRoad Capital Partners, Schematic Ventures and Cambridge Capital also participated in the round. La Jolla, Calif.-based Platform Science was founded in 2015. The company, which has about 160 employees, plans to use the funding to hire more staff in the field as it looks to expand its market share. Founder and Chief Executive Jack Kennedy said the startup expects to turn a profit by 2022 but declined to disclose annual revenue. The widespread consumer adoption of smartphones and tablets is pushing more logistics operators to incorporate similar technology into their businesses. Managers say user-friendly systems that resemble mobile apps can simplify operations and help cut training time for workers who have grown up using such devices.

Even highly manual operations like driving trucks are ripe for such advances. Trucking companies increasingly rely on software, sensors and other tools to manage routing, vehicle maintenance and regulatory compliance for fleets that haul goods thousands of miles across the country.

“They employ technology so they can continue to get bigger. There’s no way you can move the economy on a legal pad and a clipboard anymore,” said Mr. Kennedy, who previously served as president of Qualcomm Enterprise Services, which later became fleet-management software provider Omnitracs LLC, and was an executive at News Corp., parent company of The Wall Street Journal. Having trucks arrive with the technology already installed will save time and money, said Shaleen Devgun, chief information officer at Green Bay, Wis.-based trucking company Schneider National Inc., which uses Platform Science’s technology. “The idea here is not to surround the driver with apps a mile high and a mile deep,” he said.

Original Source: https://www.wsj.com/articles/trucking-looks-to-bundle-up-technology-11590325201

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The technology from transport startup Platform Science works something like Apple Inc.’s App Store. The open platform lets trucking operators to add a customized mix of third-party software and connectivity services without having to install an array of aftermarket hardware. It also enables the apps to talk to one another, pulling data from the back end so drivers don’t have to keep entering the same information, such as their name or vehicle identification number.

“We are taking the model applied in the consumer industry and putting it on the truck,” said Anil Khanna, director of connectivity for the digital vehicle solutions division at Daimler Trucks North America. The company will begin rolling out the technology next year.

The truck-maker’s parent company, Daimler AG , is the largest new investor in Platform Science’s recent $42 million Series B funding round, which was led by the venture-capital arm of industrial real-estate giant Prologis Inc., an existing investor. Venture firm 8VC, NewRoad Capital Partners, Schematic Ventures and Cambridge Capital also participated in the round.

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Benjamin Gordon, Cambridge Capital, on Logistics and Technology Investments

What should you expect in logistics and technology investments next year? Benjamin Gordon, Cambridge Capital CEO, discusses this and more in an interview with Mindset Investor. from Blogger https://ift.tt/2X8ZOSF

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Benjamin Gordon, Cambridge Capital, on Logistics and Technology Investments

What should you expect in logistics and technology investments next year? Benjamin Gordon, Cambridge Capital CEO, discusses this and more in an interview with Mindset Investor.

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How has COVID-19 changed the freight tech landscape?

We welcome Ben Gordon, Founder of Cambridge Capital and logistics investment expert, for a special FreightWaves LIVE @HOME episode to discuss the immediate future of freight tech investment. We cover how the investment landscape is changing in 2020 and what technology looks most promising.

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[benjamingordon]

How has COVID-19 changed the freight tech landscape?

We welcome Ben Gordon, Founder of Cambridge Capital and logistics investment expert, for a special FreightWaves LIVE @HOME episode to discuss the immediate future of freight tech investment. We cover how the investment landscape is changing in 2020 and what technology looks most promising.

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Benjamin Gordon (born 11 September 1973) is an American entrepreneur who founds, advises, and invests in supply chain companies. He serves as CEO and Managing Partner of BG Strategic Advisors and Cambridge Capital, companies he founded. He lives in Palm Beach, Florida. See Less

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BGSA Supply Chain Conference 2020 An Inside Peek at the Davos of Logistics, with Benjamin Gordon

The BGSA Supply Chain Conference is an invitation-only event in Palm Beach. It features over 250 of the world's top CEOs and leaders in transportation, logistics, and supply chain technology. Benjamin Gordon, CEO of BGSA and Cambridge Capital, provides a behind-the-scenes look at this special event and the unique insights that emerge from it. Leaders of companies like XPO, Echo Global Logistics, CH Robinson, APL, Werner, Sealand, NFI, and others come to this annual event to discuss strategy, technology, and deals. Topics include * New technologies: how are they disrupting traditional logistics? * The outlook: are we headed for a recession? Will the coronavirus crush global trade? Or will innovative companies find new ways to pursue growth? * The deal environment: who is buying? Who is investing? Why? * And much more See www.BGSAconference.com for more about this event.

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The history of the BGSA Supply Chain CEO Conference. BGSA's Benjamin Gordon had an idea. Why not create a forum for CEOs across all areas of supply chain?

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Social Distancing and Logistics

The new buzzword in coronavirus containment is “social distancing.” What is it, and what does it mean for logistics? China has popularized application of “social distancing” in a bid to control the runaway Covid-19 coronavirus. After a slow start, China has moved aggressively in Wuhan and elsewhere. Key measures have included closing schools, quarantining entire neighborhoods, and shutting down workplaces. Social distancing is not a new concept. As the Wall Street Journal and others have reported, experts cite this strategy as a proven approach. “Social distancing and quarantine is an ancient practice that has been tried and tested through the ages and has survived because it works,” said Osman Dar, a global health-systems expert at Chatham House, a U.K. think tank. “In the face of an unknown virus or illness it is the most effective means of interrupting and slowing transmission.” What does it mean for logistics? Ever since 1980, logistics has been squeezing cost out of the global supply chain. In 1980, logistics spend represented close to 16% of GDP. Today it is closer to 9%. That savings – which is reflected in lower costs for your shirt, office chair, and coffee cup – comes from a lean, just-in-time supply chain network. The global logistics ecosystem squeezed out cost by sourcing from manufacturers in Asia, reducing the number of steps in the process, and shortening order-to-cash cycles. But all that efficiency came at a cost. Today, we are more dependent than ever on a global network. Any supply chain is only as resilient as its weakest link. And in a world where companies may source products or rely on manufacturing in dozens of locations, we are more vulnerable than ever to supply shocks. Coronavirus represents exactly that kind of shock to the system. It is disrupting manufacturing, distribution, and logistics, not just in China but worldwide. As people, and companies, seek to engage in “social distancing” between one another, how will logistics adapt? For starters, I believe companies will build up safety stock. We will shift from “just-in-time” to “just-in-case.” Companies will hold more inventory. This will cost us all more as consumers, but it will also provide more insulation. In addition, firms are likely to shift from long-distance outsourcing to short-distance nearsourcing. Manufacturing plants for US companies are likely to relocate from China to North America. Ironically, what the Trump Administration sought to do with political tools may instead be achieved thanks to the pandemic. Lastly, the complex web of supply chain networks may become simplified. In a world of uncertainty, companies may choose to simplify their business models, narrow their networks, and reduce their dependencies. It may be that 2020 is a “back to basics” year. So in sum, “social distancing” may cause “supply chain narrowing.”

Original Source: https://benjamingordon.me/social-distancing-and-logistics/

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