SoftBank Invests in Brazil With $100 Million E-Commerce Bet
- Loggi notching up to 3 million deliveries a month: CEO
- Sao Paulo-based startup to invest in engineers, robotics
Photographer: Dado Galdieri/Bloomberg
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SoftBank Group Corp.’s Vision Fund has invested $100 million in Brazil-based delivery startup Loggi, betting on the county’s rapid e-commerce growth.
Headquartered in Sao Paulo, South America’s largest city, Loggi flags delivery requests to nearby couriers, from motoboys (or motorcycle messengers) to vans. The widely used app calculates the fee and route.