Will Cainiao Invest in Brazilian Loggi? The Latest Developments

TapTechNews August 8th news, according to the report of 'Whale Horn', recently the Brazilian logistics company Loggi plans to sell some of its shares. The reason is that a US dollar fund institution plans to sell all the shares it holds in Loggi.

Insider Chen Ming disclosed that Chinese industrial parties such as Cainiao are waiting and seeing whether to buy. Chen Ming believes that Loggi has the same shareholder SoftBank as Ali, and the possibility of Cainiao investing in Loggi is very high, which is beneficial to its layout in the Brazilian end.

TapTechNews found out that Loggi was founded in June 2013 and is headquartered in São Paulo, Brazil, with businesses involving courier, takeout, e-commerce, etc. Since its establishment, Loggi has completed seven rounds of financing successively, and the main investors include SoftBank, Microsoft, GGV Capital, Monashees, Qualcomm, Kaszkek, etc. In 2019, led by SoftBank with a $150 million investment, Loggi's valuation exceeded $1 billion, and the latter officially joined the ranks of Brazilian unicorns.

Cainiao is also currently布局 in Brazil. In 2022, Cainiao publicly disclosed its 3-year development plan in Brazil for the first time, announcing the opening of the Latin America headquarters in São Paulo, Brazil, which is also the most automated sorting center after Cainiao enters the Latin American market. Cainiao plans to deploy 9 sorting centers in Brazil within three years, covering the key seven southeastern states and radiating the entire country.

In April 2023, Cainiao and the Brazilian Post signed a strategic cooperation agreement in Hangzhou. The two sides will deepen cooperation in the fields of international express delivery and logistics technology, and comprehensively strengthen the construction of the end network of international express delivery services in the Brazilian market to provide high-quality cross-border logistics services for global merchants and consumers.