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Photo: CargoX

Brazilian trucking platform CargoX has raised $60 million in new funding led by The Blackstone Group and Hudson Structured Capital Management, Axios has learned.

Why it matters: The trucking industry can be very inefficient, with rigs often carrying half-full payloads. CargoX tries to correct this supply/demand imbalance by matching businesses with truckers who have excess capacity.

Others investors include Goldman Sachs, Qualcomm Ventures, Soros, and Uber co-founder Oscar Salazar.

CargoX currently operates in Brazil, but may eventually expand into other markets, where it could run into Uber, which recently expanded its own freight business.

Clarification: The story was updated to include Hudson Structured Capital Management, which co-led the funding round.

Go deeper

Updated 5 hours ago - Politics & Policy

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Illustration: Annelise Capossela/Axios

  1. Health: CDC director defends agency's response to pandemic — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Biden readies massive shifts in policy for his first days in office.
  3. Vaccine: Fauci: 100 million doses in 100 days is "absolutely" doable.
  4. Economy: Unemployment filings explode again.
  5. Tech: Kids' screen time sees a big increase.
  6. World: WHO team arrives in China to investigate pandemic origins.
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6 hours ago - World

Alexey Navalny detained after landing back in Moscow

Navalny and his wife shortly before he was detained. Photo: Kirill Kudryavtsev/AFP via Getty

Russian opposition leader Alexey Navalny was detained upon his return to Moscow on Sunday, which came five months after he was poisoned with the nerve agent Novichok. He returned despite being warned that he would be arrested.

The latest: Navalny was stopped at a customs checkpoint and led away alone by officers. He appeared to hug his wife goodbye, and his spokesman reports that his lawyer was not allowed to accompany him.

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8 hours ago - Politics & Policy

Biden's "overwhelming force" doctrine

President-elect Biden arrives to introduce his science team in Wilmington yesterday. Photo: Kevin Lamarque/Reuters

President-elect Biden has ordered up a shock-and-awe campaign for his first days in office to signal, as dramatically as possible, the radical shift coming to America and global affairs, his advisers tell us. 

The plan, Part 1 ... Biden, as detailed in a "First Ten Days" memo from incoming chief of staff Ron Klain, plans to unleash executive orders, federal powers and speeches to shift to a stark, national plan for "100 million shots" in three months.