Flexport in talks to raise $500 mln in SoftBank-led deal

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Feb 13 Reuters - Freight logistics provider Flexport Inc is in talks to raise around $500 million in a deal led by SoftBank Group Corp, news websiteAxios on Wednesday citing sources familiar with the matter.

Excluding the potential deal with SoftBank, Flexport could be valued around $3 billion, Axios said, citing one of the sources.

Flexport has raised nearly $305 million in funding over five rounds. Its latest financing round was in April 2018, according to data provider Crunchbase.

Flexport has $225 million in revenue annually, and competes with with iContainers, Freightos, and FreightHub, according to company insights provider Owler.

Flexport and SoftBank were not immediately available for comment.

Last week, autonomous technology startup Nuro said it raised $940 million from SoftBank, which valued the Silicon Valley-based company at $2.7 billion.

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