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G&W invests in Cargomatic

DARIEN, CT: February 08, 2018. Railroad company Genesee & Wyoming has invested in Cargomatic, a technology platform connecting shippers and truck carriers with a focus on short-haul markets. Terms were not disclosed.

GW BRIDGE Founded in 2013, Cargomatic facilitates increased truck capacity, real-time tracking and transportation solutions for shippers while providing owner-operator and smaller truck carriers traffic volume visibility and operational flexibility.

Commenting on the new partnership CEO Richard Gerstein commented: "This relationship with G&W will create unprecedented transparency and facilitate ease-of-use for first and last mile logistics networks associated with rail; setting the stage for what we view as the semi-autonomous future of transportation: scalable long-haul rail, one train hauling hundreds of containers and railcars - with local, human powered pickup and delivery.

Operating in Los Angeles, San Francisco, Chicago, Seattle, Dallas, Houston and New York markets, Cargomatic says it plans to expand internationally.

G&W chief commercial officer Michael Miller added: "In addition to our investment in Cargomatic we are pleased to add the Cargomatic platform as an extension of G&W's rail service at terminal and transload locations across [our] U.S. rail network and to work with the Cargomatic team as they expand to Europe and Australia."

In addition to G&W, Cargomatic investors include Canaan Partners, Volvo Group Venture Capital, Xplorer Capital, Morado Venture Partners, Acequia Capital, SV Angel, Muse Family Enterprises, Structure Capital and Sherpa Capital.

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