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São Paulo, Brazil, July 12, 2023 – To improve efficiencies in Brazil's transportation and logistics sector and reduce the country's greenhouse gas emissions, IFC is investing $8 million in Cobli, a São Paulo-based leading telematics FleetTech that leverages a network of internet-based sensors to help companies better manage their fleets. Cobli is a platform that includes innovative features, such as data analytics driven by artificial intelligence, to efficiently route vehicles, reduce wait time and cost, and enhance driving safety. Around 100,000 vehicles in Brazil use Cobli's telematics systems to improve logistics efficiency. A successful scale-up of the company is expected to promote further technology advancements and accelerate the growth of the fleet management sector in the country and across the broader Latin America and Caribbean region. According to Cobli's President and Co-founder, Rodrigo Mourad, "For the next three years, Cobli's objective is to grow fivefold. Investors are strategic partners for us to continue disrupting the market. IFC has relevant global knowledge and is willing to make long-term investments that have big impacts." Rodrigo added that Cobli "will continue to innovate our sensors and video-based solutions to bring our customers to the forefront of technology and results." Brazil is one of the top greenhouse-gas-emitting countries in the region and the 13th in the world. Optimizing resource efficiency in the transportation and logistics sectors can contribute to its decarbonization and emissions-reduction targets. As of 2020, Brazil's telematics market was valued at $1.36 billion, with projected compound annual growth of 10.7 percent from 2021 to 2026. In 2021, the global market was estimated at $44.2 billion, with growth projected at 15.9 percent from 2021 to 2026. "With more than 10 million commercial light vehicles in Brazil, there is great potential for growth and cost efficiencies to be passed on to companies," said Carlos Leiria Pinto, IFC's Country Manager for Brazil. "IFC's investment in Cobli will help mobilize private investments in the Brazilian e-logistics and mobility sectors, which are key to enhancing connectivity and productivity through efficiency gains in fuel use, savings on maintenance costs, and accident prevention," he added. In emerging markets, IFC has invested about $135 million in the e-logistics and mobility sectors, building a diverse portfolio of innovative startups that includes long-haul trucking, last-mile delivery, and shared mobility companies. In Brazil, IFC has invested in Tembici, the country's leading micro-mobility company, and supported the expansion of BlaBlaCar, a community-based travel network. IFC has been investing in Brazil's private sector since 1957 to address the country's most critical development challenges, including those of urbanization, social inclusion, competitiveness and productivity, and management of natural resources. About CobliCobli is a FleetTech that uncomplicates and enhances fleet management. The company was founded in 2017 by Parker Treacy and Rodrigo Mourad, and has been growing more than 100% year after year. With a team of more than 400 people and US$ 70 million in investments led by Softbank and IFC, Cobli is present across all Brazilian states, with thousands of clients and serving several segments - such as telecommunications, transportation, energy, e-commerce, and civil construction. Through cutting-edge IoT, Artificial Intelligence, Big Data, and Dashboard Cameras, its solutions help to reduce costs, boost productivity, encourage drivers' safe driving, operational compliance, and improve end customer experience. Find out more at www.cobli.co. About IFCIFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org. Stay Connectedwww.ifc.org/lacwww.twitter.com/IFC_LACwww.linkedin.com/company/ifc-américa-latina-y-el-caribewww.facebook.com/IFCwbgwww.instagram.com/ifc_org/www.youtube.com/IFCvideocastswww.twitter.com/IFC_orgwww.ifc.org/SocialMediaIndex
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