Freight tech startup Forto raises $240 million in SoftBank-led round

Berlin: Forto, a freight technology startup, has raised $240 million from SoftBank and others at a valuation of $1.2 billion.

Also participating in the investment found were new investors Citi Ventures and G Squared, while existing backers including Northzone, Cherry Ventures and Unbound reinvested, Forto said. With this, the company has raised a total of $360 million in venture capital. The freshly raised capital will be used for expanding its platform for organising trade shipments between China and Europe, according to the five-year old, Berlin-based company.