Author: Transport Topics

Wise Systems, an autonomous dispatch and routing software provider for delivery fleets, has raised $7 million in its Series A round, according to a Dec. 6 press release.

M7 Auto Transport has announced its grand opening. The launch came after the auto hauler acquired the assets of Auto Strap Transport, which filed for bankruptcy in late 2017.

CIT Group Inc., the financial holding company of CIT Bank, has announced that its financing unit served as the sole lead arranger on a $53.8 million senior secured credit facility for Circle 8 Crane Services, a full-service crane rental company serving…

TransForce Inc., a Virginia-based recruiting and employment solutions provider specializing in quality commercial truck drivers, has acquired Drive360 Logistics.

Drone-delivery technology company Flytrex announced it has raised $7.5 million in Series B funding, according to a Jan. 8 press release. This round brings the company’s total to $11 million.

Custom trailer and truck body manufacturer Kentucky Trailer announced it has acquired a majority stake in CEI Equipment Co., a provider of aluminum feed transportation equipment.

MercuryGate International Inc., an SaaS-based transportation management system solutions provider, has named Beth Hendriks its new CTO. Hendriks will begin on Jan. 14.

The U.S. average retail price of diesel dropped 3.5 cents to $3.013 a gallon, the U.S. Energy Information Administration reported Jan. 7, even as crude oil prices saw some renewed vigor and approached $50 per barrel.

Savage Inland Marine has acquired the assets of Progressive Barge Line, according to a Dec. 28 press release.

OnDeck, an online lender for small businesses, has announced that it will begin offering equipment finance loans in 2019.