Randon Ventures, the investment and startup acceleration unit of Randon Companies, announces that it led the investment round in the amount of BRL 1.4 million in TruggHub, a startup that acts as a freight marketplace, having specialized in the LTL (Less Than Truckload) segment, a niche still little served by the new digital logistics solutions. This is Randon Ventures' fifth investment since it was created in 2020.
The solution brought by the “logtech” (as logistics technology startups are called) to deal with LTL loads is the possibility to automate the quoting process and make lightning auctions (the so-called “Flash-Bids“), which allows the sharing of idle spaces on trucks for different prices, taking advantage of cargo supplements or return freight. One of TruggHub's main differentials is its performance in the so-called freight performance, that is, mediating the entire operation, from the issuance of tax documents, insurance registration, risk management, collection, and monitoring of the delivery process.
For Alexandre Coelho, CEO of TruggHub, the expectation is that the investment and partnership with Randon Ventures can significantly accelerate the startup's growth. “We believe that this movement will enhance the scalability of our business, both because of the relevance of the operations of Randon Companies in the logistics sector, as well as because of the support structure for startups,” said Coelho.
“As a Corporate Venture, combined with financial return, we managed to bring portfolio synergy, maximizing the results of the start-ups,” said Business and Digital Strategies manager of Randon Companies and head of Randon Ventures, Mateus de Abreu.
In addition to TruggHub, Randon Ventures has already invested in startups Abbiamo, Grupo Delta, TruckHelp and Soon (formerly known as Reboque.me). In a recent partnership with 4all, the creation of a new company to offer digital financial services through the R4 project was also announced.