The sale of European Surface Transportation to German-based brokerage sennder is part of a drive to strengthen operations that C.H. Robinson considers core to its business.
Vessels on the backhaul trade from Europe to Asia are sailing two-thirds empty, with spot rates on the trade lane falling sharply since February.
The $200 million funding round cuts against the broader trend of venture capital investors pulling back from early- and growth-stage supply chain and logistics startups.