Since launching in 2011, CargoX has grown in just six years to become one of the top 10 players in Brazil’s trucking market, the third largest in the world with 2.6 million trucks on the road. As Vega’s project evolved into CargoX, Vega realized that the market opportunity in Latin America hinged upon Brazil. The massive opportunity presenting itself to startups that can break into the trucking market is no secret to Silicon Valley. Uber recognized that potential years ago; after some false starts, its self-driving trucks now finally in operation for parts of hauls booked on its Uber Freight app. But on the quality of his product, Vega says CargoX holds its own with its American peers.

Source: Forbes March 09, 2018 16:30 UTC