
CargoX, a Brazilian startup that has been described as “Uber for trucks,” is announcing that it has raised $10 million in Series B funding.
The analogy is kind of irresistible, since Uber co-founder Oscar Salazary is one of CargoX’s investors — he’s certainly seen his share of “Uber for X” pitches, but he told me he sees a big opportunity here due to the fragmentation in the Brazilian trucking market.
“They don’t have the tools to talk to each other,” Salazar said. “There’s a huge information asymmetry playing an important role there. If you show me a market with information asymmetry, I’m going to show you a $1 billion opportunity.”
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