It is the first acquisition of the Curitiba-based scale-up, which received $190 million in January, in an investment co-lead by SoftBank and Dynamo. The round prompted the company to first Latin American unicorn in 2021. The company had already announced its intention to use these resources in to expand its logistics network and strategic M&As. The acquisition of iTrack Brasil is likely to provide more logistical efficiency to the marketplace’s operation. With Bulky Log, a startup created internally for the delivery of large products, the company has 14 operational units, including consolidation and last-mile delivery centers, as well as a fullfilment center in the state of São Paulo.
Founded in 2017 by Daniel Drapac, iTrack Brasil is a tech company focused on systemic solutions for logistics with services that include everything from tracking a cargo between points in the distribution chain to routing and managing a logistics operation. With the acquisition, the founders of the startup remain with management control and are now part of the MadeiraMadeira group.