goFlux, the freight procurement and intelligent management platform, raised US $6M in a Series A led by Capria Ventures

• The invested capital will be used to boost the sales team and fintech capabilities, improve platform features, security, and compliance, and invest in AI for freight forecasting.

• It currently operates in Brazil and plans to expand to Mexico, Paraguay, Uruguay, Argentina, and the United States.

‍São Paulo, April 11, 2024: goFlux, Brazil’s leading LogFintech for digitizing and financing agricultural freight, has raised a Series A worth 6 million dollars (around 30 million reais).

The round was led by Capria Ventures, a venture capital fund specializing in the Global South that invests in applied Generative AI (GenAI). SP Ventures, which had led the first round in 2021, also participated, along with new international investors such as The Yield Lab Latam (Argentina), Blue Impact Global, Reflect Ventures, Arrebol Capital, as well as other investors based in the U.S. and Switzerland.

This is goFlux’s second funding round, following its raise of 6 million reais in 2021.

‍Rodrigo Gonçalves, founder and CEO of goFlux, noted: “The success of this oversubscribed funding round gives us confidence that we are on the right track. Our investors see immense potential in our unique business model, execution capabilities, and track record of sustainable growth in Brazil and Latin America. The standout feature of this round is the interest from the international market, with 90% of investors from outside Brazil.”

”Will Poole, Managing Partner at Capria Ventures, said: “From the beginning, we were impressed by the team’s vision and execution capabilities in driving a transformation beyond Brazil’s agricultural transportation landscape. We see a tremendous opportunity for goFlux not only to expand access to credit for unbanked SME carriers through its factoring product, but also to apply Generative AI to improve productivity, help its customers make decisions more easily, and carry out strategic planning in a complex, data-rich domain.”

goFlux will use the proceeds from the round to boost its sales team and fintech capabilities, improve platform features, security, and compliance, and invest in AI for freight forecasting. 

“We will reach break-even in the second half of the year. Our first goal will be to allocate these resources to the Credit Rights Investment Fund (FIDC) established this year. It will be accessible through our digital platform as goFlux NaConta, a credit rights advance product exclusive to the more than 3.000 transportation companies registered on the platform,” added Gonçalves.

The funds will also be used to invest in goFlux View, a solution integrated with the procurement platform that provides predictive intelligence and a forward-looking view of freight market behavior. goFlux View will offer broader coverage and better decision-making insights than any alternative solution by using Generative AI to enable ad hoc queries in natural language across complex information sources.

In 2023, the goFlux platform brokered 42 million tons of freight (approximately USD 1.5 billion). The company now plans to expand its presence in key markets beyond agribusiness, including food, pulp and paper, civil construction, and steel. You can read more about why Capria Ventures invested in goFlux here. 

‍About goFlux

‍Headquartered in the city of São Paulo, goFlux is a Logtech founded in 2018 by experienced logistics founders, who developed a fully digital platform for quoting, negotiating, contracting, and managing road freight transportation. The solution has been transforming freight procurement and boosting competitiveness in the transportation sector, particularly in agribusiness.

‍About Capria Ventures

‍Capria Ventures is a venture capital firm specializing in the Global South that invests in applied Generative AI and connects founders through a unique collaborative network. Capria fosters strong relationships among hundreds of founders and leading local venture capital firms in technology hubs across the Global South, from São Paulo to Lagos, Bangalore, and Jakarta. Capria manages more than 188 million USD in assets.