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Building a $2B Logistics Unicorn: Insights from Forto’s Michael Wax on AI, Fundraising & Global Trade
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In this episode of Startuprad.io, we bring you an exclusive interview with Michael Wax, the visionary Co-Founder and CEO of Forto, a company that has disrupted the global logistics industry. Forto, often referred to as the "Booking.com for containers," has achieved unicorn status with a valuation of $2 billion, thanks to its innovative approach to managing global supply chains. If you're an entrepreneur, startup enthusiast, or someone interested in the logistics sector, this episode is packed with actionable insights and strategies that you won't want to miss.
🔍 Key Topics Covered:
Michael Wax’s Entrepreneurial Journey: Discover how Michael’s diverse academic background and early experiences at Bain, BMW, and his first startup, Konark Space, prepared him for the challenges of the logistics industry. Learn how these experiences culminated in the founding of Forto in 2016.
The Rise of Forto: Understand the unique business model of Forto, which has transformed the logistics landscape by creating an efficient, transparent, and AI-powered operating system for global shipping. Michael explains how Forto grew from an idea to a unicorn, serving hundreds of clients across Europe and Asia.
Leveraging AI in Logistics: Explore how Forto uses AI to optimize shipping routes, manage seasonal peaks, and provide real-time translation for international logistics operations. Michael dives into the specifics of how technology is revolutionizing one of the world’s largest industries.
Navigating Market Disruptions: From the COVID-19 pandemic to geopolitical conflicts, the logistics industry has faced significant challenges in recent years. Michael shares how Forto navigated these disruptions, maintained its growth trajectory, and adapted to changing market conditions.
Fundraising and Growth: Michael has successfully raised over $700 million in capital. He offers valuable advice on how to approach fundraising, build investor relationships, and scale a startup in a competitive market. Learn the key elements that contributed to Forto’s rapid ascent to unicorn status.
Building a Strong Team: Team dynamics can make or break a startup. Michael discusses the importance of co-founder relationships, team cohesion, and how to manage the pressures of growing a high-valuation company. He also shares his approach to hiring top talent and creating a mission-driven work culture.
Michael Wax as a Business Angel: Beyond Forto, Michael is an active business angel with investments in over 50 B2B startups. He talks about his criteria for investing, the importance of operating in the right market, and how he supports early-stage companies.
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