Genesee & Wyoming announces investment in Cargomatic, terms not stated
Genesee & Wyoming Inc announced it has made an investment in and formed a strategic alliance with Cargomatic, Inc., a technology platform connecting shippers and truck carriers with a focus on short-haul markets. Terms of the investment were not disclosed. Founded in 2013 and headquartered in Long Beach, Calif., Cargomatic focuses on the fragmented short-haul and drayage trucking markets connecting shippers and carriers real-time via its web platform and apps. The Cargomatic platform facilitates increased truck capacity, real-time tracking and an efficient transportation solution for shippers while providing owner-operator and smaller truck carriers visibility to traffic volumes and operational flexibility. Currently operating in Los Angeles, San Francisco, Chicago, Seattle, Dallas, Houston and New York, Cargomatic is expanding across the U.S. with plans to expand internationally.