Modern Logistics is a Brazilian one-stop-shop full-service logistics firm operating an integrated air cargo operation, trucking network, and warehousing services. The company was founded by Gerald Lee, a former JetBlue VP and co-founder of Azul airlines, and is backed by DXA Investments. Modern operates 8 distribution centers, connects more than 14,000 trucks to its network, and runs its own air cargo operation with a fleet of 4 aircraft. The company targets a U$150 billion addressable market and positions its platform as a way to create jobs, reduce inefficiencies, and open new markets. Financially, Modern has raised U$65 million in funding to date, including a recent convertible debt issuance; terms of the convertible were not disclosed. Modern expects to raise up to U$150 million to fund working capital needs for its planned expansion. Modern Logistics is building Brazil’s first multimodal logistics platform that integrates air and ground operations and offers warehousing, pick-and-pack, and multimodal distribution. The company targets industrial clients and high-value goods such as electronics, pharmaceuticals, cosmetics, and auto parts with tailored supply-chain solutions emphasizing speed, security, and cost-efficiency. Modern plans to operate Boeing 737-400 freighter aircraft connecting strategically located logistics centers and is taking delivery of 737-400F aircraft for medium- and long-haul routes. Management is led by Gerald Blake Lee, a founder of Azul Linhas Aéreas and former JetBlue vice president; JetBlue co-founder John Owen is an investor and joined the board. The company closed an initial private equity investment of up to R$75 million (≈$30M) from Rio de Janeiro-based DXA Investments and expects to launch operations within two months. DXA will help facilitate future financing rounds and TAP Advisors acted as financial advisor to the transaction.

Total raised

$31M

Funding rounds

2

Latest round

Equity

Latest activity

Sep 2014