With $2.6 million in funding, Venice-based Cargomatic is hoping to revolutionize local shipping by connecting people who ship often and in short distances to nearby truck drivers with extra space. Via an app and web-based software, Cargomatic’s platform aggregates available space from local carriers and offers real-time rate quotes that shippers can instantly book.
The service is currently available in Southern California and has helped transport a variety of dry goods, from apparel to retail goods. Cargomatic is facilitating over 100 deliveries a day, with the average shipper paying about $120 per booking. Cargomatic makes its money by charging both the carrier and the shippers a fee.
This $2.6 million seed round was led by SV Angel, Morado Ventures and Sherpa Ventures. Sherpa Ventures founder Shervin Pishevar was also an early backer of Uber.