Dynamo Dispatch (2025/08/25)

Issue 343 | Overhaul, Nuro, Highway

Dynamo Dispatch. A weekly update from Dynamo Ventures covering the latest and greatest in supply chain, mobility, and building venture-scale businesses.

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🎙 Check out Dynamo's podcast series, The Future of Supply Chain.

Weekly Commentary 💭

This week in supply chain and logistics, AI is shifting from buzz to baseline—TMS giants like Uber Freight, Oracle, and Amazon are turning rigid platforms into conversational copilots that cut costs and resolve exceptions in real time. Meanwhile, tariff shocks are rippling through trans-Pacific trade, freight audit and rail are consolidating, and US battery makers and shipyards are leaning on foreign capital. The common thread: data quality, agility, and smart partnerships are fast becoming the real competitive edge. Continue reading for more!

🥰 Love reading the Dispatch? Make sure you forward it to anyone looking to stay up to date with all things supply chain and mobility.

We Are Dynamo,

Madelyn, Madison and the rest of the Dynamo team

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Make, Move, and Monetize 📦

⭐ Logistics Management is Leveling up With Generative AI. TMS vendors and big shippers are baking generativeAI and agentic AI into core workflows, turning clunky systems into conversational copilots—Uber Freight, Oracle, Blue Yonder, and Amazon now let teams ask operational questions and get recommended actions. Early wins are in exception resolution, cost and schedule optimization, rate projections, and exec-ready insights. The takeaway: this is fast becoming table stakes, with the advantage shifting to those with clean, connected data and strong governance. Completely unrelated, July Class 8 Truck Sales Return to Year-Over-Year Losses.

Toll of US Tariffs Begins to Emerge on Unsettled Trans-Pacific. Tariff-driven front-loading has faded, and US retailers are pulling back orders, slowing container pickups and driving up demurrage and storage costs. Uncertainty over China tariff levels is freezing small and midsize importer orders, prompting price hikes even at majors, and pushing some to abandon boxes or shift to origin-controlled terms and small parcel. The implications of this may include weaker trans-Pacific volumes and rising working-capital and logistics costs through year-end. Trump Expands 50% Tariff on Steel and Aluminum to 400 Additional Product Types and Tariff-Linked Trade Pattern Shifts Could Offset Impact of US Port Fees: OOIL.

Scrap-Copper Traders Redirect Metal to Sidestep China Levies. US scrap copper traders are rerouting shipments through Canada, Mexico, and Vietnam to bypass China’s 10% tariffs, underscoring both the strain on global metals flows and the legal risks dealers are willing to take. Chinese imports of US scrap have collapsed, while other nations like Japan, Thailand, and Canada have stepped in, fueling volatility and record discounts in copper prices. Meanwhile, delays at major US projects like Resolution highlight how permitting bottlenecks are keeping the US reliant on Chinese refining. This shift signals rising legal, pricing, and supply chain risks—and the need to diversify sourcing and accelerate domestic production. Unrelated, Government Supporting Four Out of Six of UK’s Steel Companies.

American Battery Companies Are Shopping Abroad. US battery makers are shifting manufacturing abroad as tariffs, shifting tax policy, and grant cuts create uncertainty at home. Group14 raised $463M led by SK, took full control of its South Korea production and delayed its Moses Lake launch. Meanwhile, Lyten bought Northvolt’s German and Swedish plants at a discount and will ship NMC before pivoting to lithium-sulfur to serve Europe’s EV, grid, and drone demand. Thus, the industry’s center of gravity is tilting toward Asia and Europe, which could lead to increased capital and jobs to follow, more distressed-asset deals, and “in-market, for-market” supply chains that undercut US onshoring plans.

US-EU Trade Deal: New Framework Agreement Boosts Transatlantic Economic Ties. The US and EU unveiled a trade framework that drops EU tariffs on US industrial goods and opens more access for US agriculture, while the US sets a tariff cap on most EU goods. The deal bundles broader cooperation on energy, tech, auto standards, environmental rules, and digital trade to smooth non-tariff frictions. If implemented, it channels major energy and capital flows to US suppliers and gives EU exporters tariff predictability—lifting US industrials, energy, and chipmakers while deepening Europe’s reliance on US policy. Related, Who Are the Winners and Losers in US-EU Trade Deal?

The New Acronym Driving South Korea’s Summit With Trump: MASGA. Seoul’s MASGA pitch ties a $150B commitment to revive US shipbuilding to a tariff deal and $100B in US energy purchases, putting shipyards at the center of Trump–Lee talks. Execution is underway: Hanwha bought Philly Shipyard, HD Hyundai is advising US yards and pursuing repair work, and a House bill would create a “foreign ally shipping registry” to ease build/repair limits. If even partially enacted, this could rapidly expand US naval/commercial capacity via allied capital and know-how, shift maintenance to the Indo-Pacific for Taiwan-contingency readiness, and spur M&A/capex across US yards—assuming labor and supply-chain bottlenecks are solved. Unrelated, Are We in the Great Trucking Recession? A Look at the Numbers, the Pain, and What Comes Next.

How Companies Are Responding to Trump’s Tariffs. Washington has escalated tariffs on China and scrapped the de minimis/Section 321 exemption for all countries, pulling low-value parcels into duties and tighter customs checks; a new US-EU deal favors US exports while China retaliates. For eComm and logistics, that means higher landed costs, heavier paperwork and inspections, slower clearances, and acute pain in electronics, apparel, home goods, machinery, and auto parts—especially for dropship and private-label models tied to China. Implications of the above may lead to price increases, margin compression, and longer lead times; brands that diversify sourcing, build US inventory buffers, and lean on capable 3PLs will outperform, while small-parcel cross-border sellers may take the biggest hit. Also, Borderlands Mexico: Tariffs Drive Job Losses at Mexico’s Border Factories and Inside the West Coast Ports at the Epicenter of Trump’s Trade Tariffs.

New Visas Paused for Commercial Truck Drivers, Rubio says. Secretary of State Marco Rubio said the US will pause issuing new visas for commercial truck drivers, arguing rising numbers of foreign drivers endanger safety and undercut US truckers. Immigrants make up ~18% of drivers and the industry already faces a shortage in the tens of thousands; the pause doesn’t immediately remove current drivers but could block new entrants/renewals, amid stricter English-proficiency enforcement from Trump’s April order and scrutiny after a recent fatal crash. This pause may lead to tighter driver supply, upward pressure on freight rates and delivery times, and knock-on inflation risk—timing matters, as the length of the pause is unclear and visa caps reset Sept. 30. Related, Retailers, Trucking Clash Over Vehicle Weight Limits.

Truck Parking a $100B Inefficiency Issue for US Truckload Industry: Report. The US is facing a massive shortfall in safe, legal truck parking, pushing many drivers into informal options, when what drivers really need are reservable time-slots, not just spaces. The scramble forces off-route detours and conservative hours-of-service planning, with total inefficiency costs topping $100B annually. For shippers and fleets, parking is a network-design lever—without reservable slots, the negative implications of this issue will show up in rates, service reliability, and driver retention.

BNSF, CSX Unveil New Joint Intermodal Lanes in Aftermath of UP-NS Merger. BNSF and CSX are expanding joint intermodal service linking the US West Coast to the Southeast and adding international connections between the Midwest and East Coast ports, leveraging their long-running single-line-like model that bypasses major interchange choke points. The timing counters the proposed UP–NS transcontinental merger and comes amid activist pressure pushing CSX toward consolidation moves. Thus, partnerships can deliver merger-like scale—more routing options, density, and truck-to-rail shifts—tightening Southeast competition and weakening the case for consolidation. Locking in capacity on these corridors positions operators to benefit as UP–NS alternatives strengthen. Related, CSX, BNSF Pact Sparks Debate on Whether Another Rail Merger Is Approaching.

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The Future of Supply Chain 🎙️

Check out our podcast series that’s been running since 2018. On each episode of the Future of Supply Chain, we sit down with a different entrepreneur, investor, or industry veteran to discuss innovation, technology, and the most exciting opportunities in supply chain as we build the future of the industry together.

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Fundraises and M&A 💸

Oway Raises $4M in Seed Funding. Oway is a freight technology startup optimizing long-haul trucking by using AI and real-time truck data to fill underutilized trailer space. The funding will support product development and expansion across US freight corridors. The round was led by Y Combinator and General Catalyst.

Grid Aero Raises $6M in Seed Funding. Grid Aero is developing a data-driven platform to modernize aerospace supply chains by connecting suppliers, manufacturers, and operators with real-time intelligence and automation. The funding will be used to expand its supplier intelligence platform, build predictive analytics for part demand and maintenance, and scale partnerships with OEMs, MROs, and airlines. The round was backed by Calibrate Ventures and Ubiquity Ventures.

ChemFinity Raises $7M in Seed Funding. ChemFinity develops sorbent-based technology that selectively recovers more than 20 critical minerals—including platinum group metals, rare earth elements, and copper—from complex waste streams. The funding will accelerate piloting efforts and scale deployment of its low-cost, energy-efficient recovery systems. The round was co-led by At One Ventures and Overture Ventures, with participation from Closed Loop Ventures Group, Pace Ventures, WovenEarth Ventures, and Climate Capital.

Loft Dynamics Raises $24M in Series B Funding. Loft Dynamics develops VR flight simulators for helicopters and commercial airlines, designed to make pilot training safer, more immersive, and cost-effective. The new funding will accelerate rollout of next-generation VR training systems, including full-motion Boeing 737 and Airbus A320 simulators, AI-powered insights, and at-home training kits. The round was led by Friedkin with participation from Alaska Airlines, Sky Dayton, Craft Ventures, and UP.Partners.

Keychain Raises $30M in Series B Funding. Keychain is an AI-powered manufacturing platform for the consumer-packaged goods industry. The capital will support the rollout of KeychainOS, its AI-based operating system designed to optimize production cycles for manufacturers. The round was led by Wellington Management, with participation from BoxGroup and other existing investors.

Highway Raises Strategic Growth Funding. Highway provides a Carrier Identity® platform that helps freight brokers verify carriers, prevent fraud, and build secure, trusted networks. The new investment will support product diversification and go-to-market expansion to strengthen its position in freight compliance and fraud prevention. The round was led by FTV Capital with participation from Lead Edge Capital.

Overhaul Raises $105M in Series C Funding. Overhaul provides an in-transit supply chain risk management platform that protects high-value cargo using real-time monitoring, predictive intelligence, and rapid response capabilities. The funds will be used to accelerate platform innovation, advance AI-driven features, and support strategic acquisitions. The round was led by Springcoast Partners, with participation from Edison Partners.

Nuro Raises $203M in Series E Funding. Nuro develops the Nuro Driver™, an autonomous driving system designed for integration into commercial fleets, ride-hailing services, and personal vehicles. The new capital will be used to scale its AI-first autonomy technology and expand commercial partnerships, including its recently announced collaboration with Lucid and Uber to deploy a global robotaxi service. The round included Uber, Baillie Gifford, Icehouse Ventures, Kindred Ventures, NVIDIA, and Pledge Ventures, alongside prior investors such as T. Rowe Price, Fidelity, Tiger Global, Greylock, and XN.

Group14 Raises $463M in Series D Funding. Group14 manufactures silicon anode materials that enhance the energy density and charging speed of lithium-ion batteries for electric vehicles. The funds will be used to expand its global manufacturing footprint, including acquiring full ownership of its BAM 3 factory in South Korea. The round was led by SK, with participation from ATL, Lightrock, Microsoft, Porsche, and OMERS.

Blue Yonder Acquires Optoro. Blue Yonder, a leader in digital supply chain transformation, has acquired Optoro, a US-based provider of returns management technology. Optoro offers enterprise-grade solutions for warehouse and in-store returns processing, recommerce, and inventory recovery. The acquisition strengthens Blue Yonder’s end-to-end supply chain offering by enabling more efficient, sustainable, and profitable returns operations.

Daikin Acquires DDC Solutions. Daikin Applied, a subsidiary of Daikin Industries and global leader in HVAC systems, has acquired DDC Solutions from Thompson Street Capital Partners and Cequel III. DDC provides high-density GPU cooling solutions tailored for AI-driven data centers. The acquisition supports Daikin’s strategy to expand into advanced data center cooling by integrating DDC’s specialized technology and accelerating its growth in this sector. Terms of the transaction were not disclosed.

Loop and Data2Logistics Merge. Loop, developer of the AI-powered supply chain intelligence platform DUX, is merging with Data2Logistics, a long-standing freight audit and payment provider. The combined entity will integrate Loop’s large language model technology with Data2Logistics’ global domain expertise and enterprise relationships. The merger aims to scale Loop’s data reconciliation and exception handling capabilities while maintaining customer continuity and accelerating implementation timelines. Terms of the deal were not disclosed.

Lowe’s Acquires Foundation Building Materials for $8.8B. Lowe’s has agreed to acquire Foundation Building Materials, a distributor of interior construction products including drywall, metal framing, and insulation, in a move to strengthen its professional offerings. The acquisition supports Lowe’s “Total Home” strategy by enhancing fulfillment capabilities, digital tools, and trade-credit infrastructure for its Pro segment. The $8.8B deal is being financed through a mix of short- and long-term debt, with $9B in bridge financing committed by Bank of America and Goldman Sachs.

ONDEX Automation Acquires Vision and Control Systems. ONDEX Automation provides automation solutions across motion control, robotics, barcode reading, and PLC programming for North American manufacturers. The acquisition of Vision and Control Systems will strengthen ONDEX’s capabilities in machine vision and support its expansion across key verticals including life sciences, logistics, and consumer goods.

Serve Robotics Acquires Vayu Robotics. Serve Robotics has acquired Vayu Robotics to strengthen its AI-powered sidewalk delivery platform. The deal will integrate Vayu’s AI foundation model technology to enhance Serve’s navigation performance, reduce delivery costs, and accelerate development of its next-gen robots. Vayu’s founders and team will join Serve, with Vinod Khosla, Vayu’s lead investor, joining Serve’s Advisory Board. The transaction includes $1.7M shares upfront, a 560,000-share earnout, and warrants to Khosla Ventures.

truckstop.com Acquires Denim. truckstop.com, a leading freight technology company, has acquired Denim, a fintech provider of transportation-focused factoring and back-office automation solutions. Denim offers AI-powered payment and invoicing tools, along with a recourse factoring product. The acquisition enhances truckstop.com’s financial services offering, enabling faster payments, improved liquidity, and greater operational efficiency for carriers and brokers. Financial terms of the transaction were not disclosed.

Who's Hiring? 👩‍💻

Be sure to check out the Dynamo website for more job opportunities at our portfolio companies!

Founding Product Engineer at Guided Energy in Paris, France.

Account Executive at Token Transit in San Francisco, California (Remote).

Director of Business Development at Stord in Atlanta, Georgia (Remote).

Dynamo Dispatch (2025/08/18)

Issue 342 | BinSentry, Squint, GoodShip

Dynamo Dispatch. A weekly update from Dynamo Ventures covering the latest and greatest in supply chain, mobility, and building venture-scale businesses.

💥 Have you seen any interesting startups recently? Introduce us.

🗞️ If you were forwarded this and found it interesting, please sign up.

🎙 Check out Dynamo's podcast series, The Future of Supply Chain.

Weekly Commentary 💭

Geopolitics, trade tensions, and tech innovation continue to to reshape supply chains in real time. China is merging its two biggest shipbuilders into a $16B giant, bolstering its naval and commercial clout, while the US attempts to revitalize its own shipbuilding industry. Domestically, solar makers are racing to localize their supply chains, while freight volumes keep sliding under the weight of tariffs and demand shifts. As always, read on for more!

🥰 Love reading the Dispatch? Make sure you forward it to anyone looking to stay up to date with all things supply chain and mobility.

We Are Dynamo,

Madelyn, Madison, and the rest of the Dynamo team

Note: please add “dynamo@substack.com” to your email client, so you don’t miss future issues due to aggressive spam filters.

Make, Move & Monetize 📦

⭐ China Creates World’s No. 1 Shipbuilder, Driven by Rivalry With US. China is finalizing a $16B merger of its two state-owned shipbuilders—CSSC and CSIC—creating the world’s largest shipbuilding company with over 530 vessels on order and annual revenue of about $18B. The consolidation strengthens China’s commercial dominance (already 55% of global shipbuilding output) while bolstering military production under Beijing’s military-civil fusion strategy. Although US tariffs on Chinese-built ships are pushing some owners toward Korean and Japanese yards, analysts warn China views shipbuilding as a “core capability,” and the new giant will accelerate upgrades in both commercial and naval capacity amid intensifying global rivalry. Related, US Seeks Shipbuilding Expertise From South Korea and Japan to Counter China and Can We Jumpstart American Shipbuilding?

T1, Corning Reach Deal to Make Fully American-Made Solar Panels. T1 Energy and Corning are building a fully US-made solar chain, extending their poly-silicon deal to add Michigan wafers (starting 2H 2026), Austin cell production, and Dallas module assembly. The pact targets demand created by FEOC restrictions in President Trump’s One Big Beautiful Bill Act, counters China’s wafer dominance, and will support ~6,000 jobs across MI and TX. This positions T1 for federal credits and supply-chain de-risking—likely enabling pricing power and easier financing. Related, Corning, T1 Energy Agree to US Domestic Solar Polysilicon, Wafer Supply Deal.

Freight Shipment Decline Streak Extends to 30 Months, Cass Says. Cass Information Systems reported that US freight volumes fell 6.9% year-over-year in July—the sharpest decline since January—marking three consecutive months of sequential drops as tariffs and earlier demand pull-forwards weighed on shipments. Despite weaker volumes, freight expenditures rose 0.4% year-over-year, with actual freight rates up nearly 8% due to a shift toward truckload shipments, though spot rates remain largely flat. Cass expects shipments to fall another 8% in August, highlighting that while tariffs create short-term pressure on demand, tighter capacity could eventually push more freight back into the for-hire market. Elsewhere, Air Freight Rates Hold Steady, but Demand Growth is 'on the Decline'.

Panama Canal to Launch Tender for Construction, Operation of Two Ports. The Panama Canal Authority is preparing to launch a competitive tender in early 2026 for two new port projects as part of an $8.B, five-year expansion plan aimed at boosting cargo handling, storage, and gas transport services, while also securing fresh water for operations. A major component of the plan includes building a dam on the Indio River to create a new reservoir, though the project faces a legal challenge from local communities. Additional tenders, such as for a liquefied petroleum gas pipeline, are also under consideration, while the canal’s expansion efforts unfold against a backdrop of US criticism of Chinese influence in Panama and the pending $22.8B sale of CK Hutchison’s global port assets, including two Panamanian ports, to a BlackRock- and MSC-led group.

Trump Says Tariff Rate on Semiconductors Could Reach 300%. Nvidia and AMD Stocks Fall. President Trump suggested tariffs on items like chips and steel could rise as high as 200–300%, with specific rates to be set in the next two weeks. He said the tariffs would start lower and escalate over time, encouraging companies to move manufacturing to the US to avoid the levies. The announcement pressured chipmaker stocks—AMD, Broadcom, and Nvidia all slipped—while the Nasdaq Composite edged slightly lower. Related, The Push to Restore Semiconductor Manufacturing Faces a Labor Crisis − Can the US Train Enough Workers in Time?

Shared-Terminal Operator Rolls Out AI-Based Gate Security Platform. Outpost, which offers shared trucking terminals, has launched an AI-powered gate automation system to improve both security and supply chain visibility at fleet yards. The platform identifies trucks, drivers, and trailer seals as they approach, integrating this data into a central management layer that enhances coordination, lowers costs, and reduces reliance on manual gatehouse staff—potentially cutting expenses by up to 70%. By embedding this system into its network of shared terminals, Outpost aims to create efficiencies across multiple carriers and shippers, while also offering the technology to external facilities facing similar bottlenecks at their gates.

US Embeds Trackers in AI Chip Shipments to Catch Diversions to China, Sources Say. US authorities are secretly embedding trackers in shipments of advanced AI chips and servers to catch illegal diversions to China, with devices sometimes hidden in packaging or inside the hardware itself. The Commerce Department, FBI, and Homeland Security use the tactic selectively to build cases against smugglers and enforce strict export controls on Nvidia, AMD, and others. This marks a sharper US enforcement stance that raises compliance risks across the AI hardware supply chain, putting chipmakers, server vendors, and distributors under tighter scrutiny. Also, Trump Gave China the AI Chips it Wanted. Beijing Isn’t Saying Thank You and Trump's Tracking of AI Chip Shipments Exposes Flaws in His Export Control.

EU Push to Protect Digital Rules Holds Up Trade Statement with US. The EU and US are struggling to finalize a joint trade statement, stalled by disputes over the EU’s Digital Services Act and timelines for tariff cuts. Washington wants room to challenge the bloc’s digital rules and secure faster access for US goods, while Brussels is holding firm and delaying legal changes. Though the deal caps most tariffs at 15% with limited exemptions, many in Europe view it as one-sided, requiring heavy energy purchases from the US The delay highlights unresolved tensions over digital regulation and market access that could shape the operating environment for tech, auto, and industrial sectors on both sides of the Atlantic. For more, check out Europe Trade Deal Statement Stalled Over EU’s Desire to Regulate Tech.

Hapag-Lloyd Narrows Guidance Despite Heightened Uncertainty From Global Tensions. Hapag-Lloyd lowered the top end of its earnings forecast as tariffs, Red Sea disruptions, and weaker shipping demand weigh on the outlook. The company said many customers rushed orders earlier this year ahead of US tariffs, which could now slow volumes, sending its shares down 11%. Cost cuts and a new partnership with Maersk are expected to save $1B by 2026, but near-term growth looks limited. The update highlights how trade tensions and geopolitical risks are making global shipping less predictable, with knock-on effects for exporters and supply chains.

US-India Trade Talks Called Off: Reports. The US has scrapped this month’s trade delegation to New Delhi, stalling a near-term breakthrough and leaving talks without a new date. The pause coincides with a Trump order adding 25% tariffs tied to India’s Russian oil purchases, drawing sharp pushback from New Delhi even as most issues were reportedly close to resolved. This may lead to higher costs and supply-chain friction for US–India exposed firms and a greater risk of retaliatory steps, with timing on any deal now highly uncertain. Related, Uncertainty Over Trade Deal with US as August Talks Put Off.

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The Future of Supply Chain 🎙️

Check out our podcast series that’s been running since 2018. On each episode of the Future of Supply Chain, we sit down with a different entrepreneur, investor, or industry veteran to discuss innovation, technology, and the most exciting opportunities in supply chain as we build the future of the industry together.

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Fundraises and M&A 💸

Infinity Loop Raises $5M in Seed Funding. Infinity Loop offers an AI-native contract intelligence platform that helps enterprises analyze vendor agreements, flag weak terms, and optimize negotiations for cost savings. The funding will support go-to-market expansion and accelerate adoption of the platform. Glasswing Ventures and TIAA Ventures co-led the Seed round, with particition from Plug and Play, Restive Ventures, and angel investors.

Bumper Raises $11M in Series B-1 Funding. Bumper provides an interest-free buy now, pay later (BNPL) platform that helps drivers spread the cost of car repairs. The new funding will support expansion into additional European markets and further development of its full-stack payments and software platform for car retailers. The round was led by Autotech Ventures with participation from Suzuki Global Ventures, Porsche Ventures, Jaguar Land Rover’s InMotion Ventures, and Shell Ventures.

Certivity Raises €13.3M in Series A Funding. Certivity provides an AI-native SaaS platform that automates compliance with complex regulatory requirements in industries such as automotive. The funding will be used to enhance the platform’s AI capabilities, expand regulatory coverage, deepen integrations, grow the team, and enter new markets. Almaz Capital and UVC Partners co-led the Series A round, with participation from Earlybird X, High-Tech Gründerfonds (HTGF), and Plug and Play.

FORT Robotics Raises $18.9M in Series B Funding. FORT Robotics develops a safety and security platform for intelligent machines, enabling dynamic control across autonomous systems in sectors such as construction, agriculture, and factory automation. The new capital will support product enhancements, next-generation safety features, and broader deployment of its platform globally. Tiger Global led the round, with participation from Neman Ventures, Mana Ventures, Gaingels, Ryuu Co., and returning investors including Prime Movers Lab and Mark Cuban.

GoodShip Raises $25M in Series B Funding. GoodShip offers an AI-powered freight management platform that replaces traditional spreadsheet-based systems with integrated, data-driven logistics solutions for enterprise shippers. The funds will be used to expand the platform’s capabilities, enhance automation, and support the company’s new headquarters and team growth in Bellevue. Greenfield Partners led the round, with participation from returning investors Bessemer Venture Partners, Ironspring Ventures, Chicago Ventures, and FUSE VC.

plancraft Raises €38M in Series B Funding. plancraft offers AI-first SaaS tools designed to streamline administrative tasks for tradespeople, digitizing workflows such as quoting, time tracking, and job site documentation. The funding will support expansion across Europe, team growth, and development of AI agents to automate core business operations for construction professionals. Headline led the Series B round, with continued backing from Creandum, HTGF, and xdeck.

Squint Raises $40M in Series B Funding. Squint offers a “Manufacturing Intelligence Platform”, that uses AI and AR to optimize frontline operations across industrial sectors. The funding will be used to enhance Squint’s AI capabilities, expand integration into manufacturing workflows, and grow into adjacent sectors such as energy, logistics, and field services. The round was co-led by The Westly Group and TCV, with continued participation from Sequoia Capital and Menlo Ventures.

BinSentry Raises $50M in Series C Funding. BinSentry provides AI-powered sensors and software that enable real-time monitoring and automation of feed inventory for large-scale animal agriculture operations. The new funds will accelerate BinSentry's global expansion and support continued innovation in its feed logistics platform. Lead Edge Capital led the Series C round, joining a roster of backers supporting BinSentry’s rapid growth and international reach.

Echo Global Logistics Acquires FreightSaver to Expand Managed Transportation Capabilities. Echo Global Logistics has acquired FreightSaver, a tech-enabled third-party logistics provider specializing in Full Truckload, LTL, Expedited, and Managed Transportation services. The acquisition will strengthen Echo’s client base and capabilities in the Managed Transportation segment, particularly in personalized and responsive freight solutions.

Who's Hiring? 👩‍💻

Be sure to check out the Dynamo website for more job opportunities at our portfolio companies!

Account Representative at sennder in Barcelona, Spain.

Senior Manager, Engineering at Stord in Atlanta, Georgia (Remote).

Accountant at Solvento in Ciudad de México, Miguel Hidalgo (Hybrid).

Dynamo Dispatch (2025/08/11)

Issue 341 | Lyric, OpenMind, Raise Robotics

💥 Have you seen any interesting startups recently? Introduce us.

🗞️ If you were forwarded this and found it interesting, please sign up.

🎙 Check out Dynamo's podcast series, The Future of Supply Chain.

🤝 Interested in meeting with Dynamo? Schedule here with Madelyn

Weekly Commentary 💭

This week’s headlines capture a logistics landscape in flux, from Mexico growing its share of US auto imports despite tariffs, to Washington rolling out hefty new port fees on Chinese ships. We’re tracking game-changing tech shifts like Denmark’s remote ship piloting trials, the FAA’s push for routine BVLOS drone flights, and Trump’s “build here, pay less” chip tariff exemptions. On the trade front, Cosco is muscling into a $23B global ports deal, Red Sea lanes are cautiously reopening, and tariff crackdowns plus shifting cargo control are reshaping the trans-Pacific. Through it all, carriers, manufacturers, and shippers are adapting fast—navigating policy shocks while chasing long-term opportunities.

🥰 Love reading the Dispatch? Make sure you forward it to anyone looking to stay up to date with all things in the industrial economy.

We Are Dynamo,

Madelyn, Madison, and the rest of the Dynamo team

Note: please add “dynamo@substack.com” to your email client, so you don’t miss future issues due to aggressive spam filters.

Make, Move & Monetize 📦

⭐ Mexico’s Market Share of US Auto Imports Keeps Growing Despite Tariffs and Trade Uncertainty. Despite a drop in total US automotive imports due to new tariffs, Mexico increased its share of the US auto import market to 39.4% in the first half of 2025, far surpassing Japan, Canada, and South Korea. While Mexican auto exports to the US fell 3% YoY, and parts and specialty vehicle exports also declined, the country still exported $85.7B worth of automotive goods to its northern neighbor. Industry experts warn that Mexico’s auto exports—over 85% of which go to the US—could fall by 12% for the year, though most parts manufacturers remain USMCA-compliant and exempt from the harshest tariff impacts. Completely unrelated, Little Caesars Offers Robotic Delivery in LA with Serve.

US Customs to Enforce Port Fees on Chinese Ships as Washington Gears Up for October Rollout. US Customs and Border Protection will collect new port fees on Chinese-owned or -operated vessels starting October 14, with non-payment potentially resulting in bans on cargo operations or withheld departure clearance. The fees, starting at $50 per net tonne in 2025 and rising to $140 by 2028, could cost a 10,000 TEU containership $3.5M initially, escalating to $9.M, while vessels merely built in China face lower charges and most tankers and bulkers are exempt. Industry observers warn the levies will raise operating and logistics costs, add contractual uncertainty, and could impact trade, as negotiations over a broader Sino-US trade deal continue. Related, Chinese Carriers Rejig Schedules to Avoid US Port Calls as Fees Loom.

Remote Work Comes to Piloting Ships. Denmark is testing remote pilotage technology that lets marine pilots guide ships from shore by accessing real-time navigation data, aiming to improve safety, reduce costs, cut emissions, and address a pilot shortage. While supporters see it as a way to modernize operations and expand pilot capacity, skeptics and unions raise concerns about safety, job losses, and the commercialization of pilotage services. DanPilot, leading the trial, hopes to roll out the system by late 2026 and is also testing drones for enhanced visibility, with its CEO emphasizing this as “a transformation of the job” rather than a replacement for pilots.

Maersk Brushes Off US Tariffs to Lift Outlook. AP Møller-Maersk has raised its profit forecast and upgraded its container demand outlook, citing strong trade flows from China to Europe, Latin America, and Asia offsetting weakness in the US market. CEO Vincent Clerc said, “The rest of the world is more than compensating for weakness in the US… it is important to remember that 85% of container traffic is not to and from the US,” adding that tariffs could create new opportunities as Maersk expands its integrated logistics services. Despite US trade barriers reaching historic highs, Maersk sees “very resilient demand” in sectors like EVs and renewable energy, with Clerc noting that disruption “will unlock opportunities for us in the medium and long term.” For more, Maersk Raises Full-Year Guidance Amid Volatile External Environment.

China’s Cosco Seeks At Least 20% as Beijing Reshapes $23B Panama Ports Deal. China’s state-owned Cosco is pushing to secure a 20–30% stake in CK Hutchison’s $23B sale of 43 ports—two of which are in the Panama Canal—after Beijing objected to the original deal led by BlackRock and MSC, causing their exclusive negotiating window to expire. Beijing’s stance means Cosco is the only Chinese firm allowed in the talks, giving it significant leverage, as any buyer will need Chinese partnership to secure regulatory approval. The restructuring under discussion could see Cosco gain stakes in most ports except the two in Panama, while other potential bidders like CMA CGM are unlikely to proceed without Cosco’s involvement.

Red Sea ‘Revival’ Taking Place as Regional Carriers Lead the Way. Red Sea container flows are cautiously returning — eeSea says unique service versions doubled from 8 to 16 since Q3’24, with planned capacity up 54% to ~104k TEU in August. The rebound is led by China/Mideast/India carriers on Asia–ME and a few Asia–Europe Suez loops, while majors like CMA CGM still gate transits after July’s deadly bulker attacks. Bottom line, expect incremental capacity and some transit relief on ME/Med lanes, but no 2025 “normal”—security/insurance risk keeps rates and reliability volatile. Related, Maersk Ship Collided with Car Carrier North of Funen.

Trump Exempts Tech Companies That Invest in US From 100% Chip Tariffs. Trump said imported chips will face steep tariffs but firms that commit to US manufacturing will be exempt—rolled out alongside Apple’s new $100B pledge—extending the leeway Tim Cook has secured before and easing immediate trade pain for electronics makers. Apple touted more US components (including Corning glass via a $2.5B investment) and a new program to onshore parts of its chip supply chain, as Nvidia and others press their own investment-for-access cases. The takeaway: a de facto “build here, pay less” regime that benefits cash-rich incumbents and cushions near-term margins, while core assembly and exposure to China/India policy swings largely remain. Related, The Tariff Effect: Billions in Revenue but No Economic Earthquake.

FAA Publishes BVLOS NPRM: A Watershed Moment for the Drone Industry. The FAA proposed a long-awaited rule to allow routine beyond-visual-line-of-sight (BVLOS) drone flights, moving beyond today’s reliance on limited waivers. The draft outlines safety requirements, operator training/certification, and how these flights would share airspace, and it’s now open for public comment. If adopted, it would enable scaled operations—such as infrastructure inspections, agriculture monitoring, and medical deliveries—and likely channel investment toward operators with proven safety systems and clear certification plans. Related, Introducing The FAA’s BVLOS NPRM to Unleash US Drone Dominance.

Trade Expert Predicts 200% Surge in Tariff-Fraud Crackdowns. A new round of US tariffs took effect Thursday, and trade expert Rennie Alston warned that enforcement is ramping up as every importer pays more. The Department of Justice is increasingly taking cases referred by US Customs and Border Protection, which is scrutinizing valuation, country of origin (including transshipment), and flagging “Modified Delivery Duty Paid” schemes that shift the importer of record. Essentially, compliance risk and costs are rising—verify origin, reject MDDP arrangements, and tighten classifications and documentation to avoid fines that can exceed the value of the goods. Related, America Is Making Billions From Catching 'Tariff Cheaters'.

Tariff Realities Prompt Growth in ‘Origin-Controlled’ Cargo on Trans-Pacific. Trans-Pacific spot cargo is increasingly controlled at origin as US tariffs and freight-rate volatility push shippers toward DDP/CIF terms, helped by carriers’ online booking channels. Forwarders and retailers report a clear shift in recent months, with big-box buyers toggling terms to offload duty and capacity risk, and Chinese brands going global taking control of ocean moves from Asia. Control is shifting upstream to exporters, narrowing US importers’ contract leverage and rewiring how price, risk, and visibility are managed across the trans-Pacific. Related, Nothing Can Stop Falling Trans-Pacific Container Rates.

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The Future of Supply Chain 🎙️

Check out our podcast series that’s been running since 2018. On each episode of the Future of Supply Chain, we sit down with a different entrepreneur, investor, or industry veteran to discuss innovation, technology, and the most exciting opportunities in supply chain as we build the future of the industry together.

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Fundraises and M&A 💸

HYLENR Raises $3M in Pre-Series A Funding. HYLENR develops low energy nuclear reaction technology to deliver carbon-free energy systems for industrial heat and power applications. The funds will be used to accelerate the transition of its products from pilot projects to market launch. The round was led by Valour Capital and Chhattisgarh Investments Ltd, with participation from individual investors Karthik Sundar Iyer and Anant Sarda.

Bisly Raises €4.3M in Funding. Bisly provides a plug-and-play, AI-powered smart building automation platform with integrated hardware/software and digital-twin control for energy-efficient management across residential and commercial properties. Proceeds will fund expansion in the DACH region and the UK, as well as go-to-market and hiring in key markets. The round was led by 2C Ventures, with participation from Aconterra, Pinorena, the founders of Foxway, and SmartCap’s Green Fund.

EVeez Raises $5.4M in Series A Funding. EVeez operates an electric mobility-as-a-service platform offering subscription-based electric two-wheelers for gig economy workers, bundled with insurance, repairs, battery swaps, and training. The funding will be used to expand into new cities, enhance operational infrastructure, and support more low-income workers entering the gig economy. The round was led by the Michael and Susan Dell Foundation, with participation from Caret Capital, ThinKuvate, Ev2 Ventures, Barbershop With Shantanu, SailThru Ventures, and Ah Ventures Fund.

Raise Robotics Raises $7.8M in Seed Funding. Raise Robotics develops a multipurpose robotic platform for construction sites, capable of performing high-risk tasks such as facade panel bracket installation, laser measurement near edges, and hammer drilling. The funds will be used to deploy more robots with existing customers and develop a modular version adaptable to lifts for expanded site reach. The round was led by MaC Venture Capital with participation from Undivided Ventures, Cybernetix Ventures, Zacua Ventures, and Union Labs.

Orbital Operations Raises $8.8M in Seed Funding. Orbital Operations is building a hydrogen-fueled spacecraft designed to transport cargo and refuel satellites in orbit. The funding will support development of its active cooling technology to prevent propellant boil-off, enabling indefinite orbital loitering. The round was led by Initialized Capital with participation from Harpoon Ventures, DTX Ventures, Rebel Fund, TRAC VC, Karman Ventures, and Immad Akhund.

Jeh Aerospace Raises $11M in Series A Funding. Jeh Aerospace specializes in aerospace and defense manufacturing, leveraging software-defined manufacturing technology to deliver flight-critical components with speed and quality. The funding will be used to expand its operations and global presence. The round was led by Elevation Capital with participation from General Catalyst.

FORT Robotics Raises Additional $18.9M in Series B Funding. FORT Robotics provides a robotics control and safety platform enabling secure remote and fleet control for autonomous systems across industrial environments. Proceeds will enhance products, build next-generation safety, and accelerate growth and deployments. The round was led by Tiger Global, with participation from Prime Movers Lab, Mark Cuban, FundersClub, Creative Ventures, GRIDS Capital, Ahoy Capital, Neman Ventures, Mana Ventures, Gaingels, and Ryuu Co.

OpenMind Raises $20M in Funding. OpenMind is building a hardware-agnostic intelligence infrastructure for robots. The funds will scale engineering and partnerships across sectors including autonomous transport, elder care, and smart manufacturing. The round was led by Pantera Capital, with participation from Ribbit, Coinbase Ventures, Lightspeed Faction, DCG, Pebblebed, Topology, Primitive Ventures, Anagram, HSG, and notable angels.

DISA Technologies Raises $30M in Series A2 Funding. DISA develops High-Pressure Slurry Ablation (HPSA) systems for critical mineral recovery and uranium mine-waste remediation. The funding will scale operations and accelerate commercial deployment of HPSA units across mining and AUM cleanup. The round was led by Evok Innovations with Constellation Technology Ventures, with participation from Valor Equity Partners, Veriten, and existing backers including Halliburton Labs.

Lyric Raises $43.5M in Series B Funding. Lyric provides an AI-driven supply chain optimization platform for modeling, planning, and operating logistics to improve inventory and transportation decisions. Proceeds will accelerate the product roadmap, expand reusable supply chain logic, and enhance AI-based automation, while growing the team. The round was led by Insight Partners, with participation from Primary Venture Partners, Permanent Capital Ventures, VMG Partners, PSP Growth, and NewBuild Venture Capital.

Descartes Systems Group Acquires Finale Inventory for up to $55M. Finale Inventory provides a cloud-based multi-channel inventory management platform with real-time sync across ecommerce marketplaces, shipping solutions, and accounting systems. The acquisition expands Descartes’ ecommerce suite to help merchants improve visibility, prevent overselling, and automate operations as they scale. Descartes paid approximately $40M in cash upfront, with up to $15M in performance-based earn-out tied to revenue targets over the first two years, payable in fiscal 2027 and 2028.

Who's Hiring? 👩‍💻

Be sure to check out the Dynamo website for more job opportunities at our portfolio companies!

Senior/Staff Software Engineer – Localization (Visual Odometry) at Gatik in Mountain View, CA.

Ground Operations Support - at Manna in Espoo, FI.

Account Executive at Token Transit in San Francisco, CA (Remote).

Dynamo Dispatch (2025/08/04)

Issue 340 | Motive, Augmodo, Caspian

💥 Have you seen any interesting startups recently? Introduce us.

🗞️ If you were forwarded this and found it interesting, please sign up.

🎙 Check out Dynamo's podcast series, The Future of Supply Chain.

🤝 Interested in meeting with Dynamo? Schedule here with Madelyn

Weekly Commentary 💭

💥 Dynamo portfolio company Gatik has taken another giant step forward towards the future of autonomous freight with the launch of Arena™, a next-gen simulation platform that's solving one of the AV industry's biggest challenges: the need for better, smarter data. As Gatik expands its driverless Freight-Only operations in 2025, Arena™ will provide a controlled environment to train autonomous systems across diverse driving situations — from everyday routes to uncommon edge cases. This minimizes dependence on public road testing and speeds up the safe, cost-efficient deployment of the company's technology for partners such as Kroger, Tyson Foods, and Loblaw. We're grateful to be a part of the Gatik journey and look forward to seeing what the team achieves next!

🥰 Love reading the Dispatch? Make sure you forward it to anyone looking to stay up to date with all things in the industrial economy.

We Are Dynamo,

Madelyn, Madison, and the rest of the Dynamo team

Note: please add “dynamo@substack.com” to your email client, so you don’t miss future issues due to aggressive spam filters.

Make, Move & Monetize 📦

⭐ Trump Sets New Tariffs on Global Trade Partners, Stock Market Drops. President Trump announced steep new tariffs—starting at 15%—on exports from about 40 US trade partners that haven’t secured trade deals, with even higher rates for countries like Brazil (50%), Canada (35%), and Switzerland (39%). The announcement sent US markets tumbling and sparked strong reactions from trade partners like Canada, whose Prime Minister voiced disappointment while reaffirming commitment to the USMCA. Industry leaders warn the tariffs will drive up consumer prices and disrupt supply chains, prompting many companies to reassess sourcing strategies and prioritize stability and flexibility in their global operations. Related, CH Robinson Cautious on Second-Half Outlook Amid Trade Volatility and Trump Escalates Trade War with Canada Following Palestine Stance.

DAT to acquire the Convoy Platform from Flexport. DAT Freight & Analytics has acquired the Convoy Platform from Flexport to enhance its freight-matching capabilities with advanced automation and AI-driven fraud prevention. The Convoy Platform, which serves thousands of carriers and offers high usability and fast payments will be integrated into DAT One, expanding options for brokers and improving efficiency. The deal also brings Convoy’s experienced team under DAT leadership, reinforcing its commitment to innovation and trusted carrier networks. Completely unrelated, Yemen’s Houthi Rebels Threaten to Escalate Attacks on Ships Linked to Companies Dealing with Israel.

Shippers Line Up Against Railroad Mergers. Many rail shippers strongly oppose the proposed Union Pacific–Norfolk Southern merger, warning it would cut competition, raise rates, and degrade service. The deal would shrink the US freight rail market to just two major players, and if approved, could significantly reshape freight rail dynamics—tightening shipper margins and sparking broader consolidation pressure across the logistics and infrastructure landscape. For more, check out, While Shippers Cite Merger Concerns, Rival Railroad Looks Instead to ‘Collaborations’.

What Plastic, Paper and Metal Commodity Experts Are Watching with Tariffs. Tariffs are creating uncertainty across US commodity markets for plastics, metals, and paper, but they also present opportunities for domestic manufacturing to fill potential gaps. In plastics, increased production of virgin resin and underutilized capacity may offset reduced imports, though dependence on foreign machinery and molds remains a concern. Meanwhile, aluminum and steel tariffs are raising production costs for cans and could drive up food prices, while the fiber industry is more affected by broader economic trends than tariffs, with US mills investing heavily in recycled paper capacity despite some recent mill closures.

'Make America Shipbuilding Great Again' Package Key to Reaching Trade Deal, South Korea says. South Korea’s $150B “Make America Shipbuilding Great Again” (MASGA) partnership was central to securing a tariff reduction deal with the US, aimed at revitalizing American shipbuilding through Korean-led investment, new shipyards, and naval maintenance. This initiative includes workforce training and Navy fleet support. Despite investor optimism, operational and cost hurdles—like sourcing parts—remain. For more, Korea’s “Big Three” Shipbuilders Join Task Force to Help “Make American Shipbuilding Great Again”.

Federal Autonomous Vehicle Legislation Introduced. The proposed America Drives Act seeks to create a federal framework for autonomous commercial vehicles, overriding state laws that restrict fully driverless trucks and empowering the Department of Transportation to regulate their interstate use. The bill includes exemptions for Level 4 and 5 autonomous trucks from human-specific requirements like hours of service and drug testing, aiming to enhance supply chain efficiency and maintain US leadership in transportation innovation. While industry groups support the legislation, critics such as OOIDA and safety researchers warn that more transparency and testing are needed to ensure necessary safety. Related, Texas Highways Have a New Nighttime Creature: Autonomous Trucks.

Logistics Giant DSV Hits Pause on US-Mexico Investments. DSV has paused its cross-border trucking expansion and slowed other investments along the US-Mexico border due to uncertainty surrounding US trade policy and newly extended tariffs on Mexican goods. Despite this slowdown, DSV continues to project strong profitability for the year, bolstered by its recent acquisition of DB Schenker. The broader cross-border trade boom that once drove massive investment in border infrastructure has cooled amid trade tensions and US pressure to shift manufacturing from Mexico back to the US. Related, Cross-Border Freight Slumps Again as Tariff Uncertainty Looms.

The Strategic Synergy of Pakistan and China in the Global EV Supply Chain: A New Frontier for Emerging Markets. The Pakistan-China partnership is reshaping the global EV supply chain by using Pakistan as a strategic manufacturing and export hub for Chinese automakers like BYD and Chery, allowing them to bypass US tariffs and tap into South Asian and Middle Eastern markets. Pakistan’s 2025–2030 National Electric Vehicle Policy—emphasizing 90% localization, 3,000 charging stations, and aggressive subsidies—provides the policy backbone for this transformation, aligning with China’s Belt and Road Initiative. Elsewhere in EVs, Matson Suspends Shipping EVs Citing Hazards of Lithium-ion Batteries.

EPA Seeks to Reverse 2009 Emissions Framework. The EPA’s proposal to reverse the 2009 endangerment finding could significantly weaken existing greenhouse gas regulations for heavy-duty trucks, potentially overturning last year’s Phase 3 emissions rule. Trucking industry groups argue that current standards would jeopardize the supply chain and drive up prices for goods. However, clean transportation advocates warn the rollback could undermine investments in US EV and battery manufacturing, ceding ground to oil interests and foreign competitors while destabilizing the long-term shift to cleaner freight technologies. Trump's EPA is Targeting Key Vehicle Pollution Rules. What That Means for Carmakers.

Report: Competition for Logistics Workers Heats Up. Competition for hourly warehouse and logistics workers is intensifying in 2025, with over 320K job openings posted in just five months and more than 39K employers vying for talent. Despite a steady national median wage of $19.05 per hour, employers are under pressure to adapt by accelerating hiring, offering skills development, and adopting associate-first retention strategies. High-growth states like Texas, California, and Florida are driving demand, while companies increasingly turn to hybrid labor models and prioritize job-ready skills such as equipment operation and basic tech literacy—even though most roles require no prior experience. Completely unrelated, ONE Cuts Profit Forecast as Falling Rates, Excess Capacity Weigh on Carriers.

---

The Future of Supply Chain 🎙️

Check out our podcast series that’s been running since 2018. On each episode of the Future of Supply Chain, we sit down with a different entrepreneur, investor, or industry veteran to discuss innovation, technology, and the most exciting opportunities in supply chain as we build the future of the industry together.

---

Fundraises and M&A 💸

Caspian Raises $5.4M in Seed Funding. Caspian provides an AI-native trade advisory platform focused on duty drawback and tariff refund processing for international supply chains. The funds will support expansion of its AI-driven platform, increase automation in tariff and drawback processing, and boost its global trade and compliance presence. The round was led by Primary Venture Partners, with participation from Blank Ventures.

Raise Robotics Raises $7.8M in Seed Funding. Raise Robotics develops a multi-purpose construction robotics platform that automates tasks such as layout, scanning, drilling, and installation on commercial job sites. The funds will support product development and expand deployment across real-world construction projects. MaC Venture Capital led the round with participation from Undivided Ventures, Cybernetix Ventures, Zacua Ventures, and Union Labs.

FloVision Solutions Raises $8.7M in Series A Funding. FloVision Solutions develops AI-powered sensors and analytics software that help protein processors measure yield, detect defects, and optimize production in real time. The funding will support global expansion and accelerate hiring across engineering, AI/ML, and sales functions. Insight Partners led the round, with participation from Serra Ventures, SOSV, and Rockstart.

Augmodo Raises $37.5M in Series A Funding. Augmodo provides real-time inventory and task tracking through wearable badges powered by spatial AI for retailers and brands. The new funds will support scaling deployments, expanding reach across retail channels and geographies. The round was led by TQ Ventures, with participation from Lerer Hippeau, NewFare, WIN, Interlace, Arena Holdings, and Jefferson River Capital.

Motive Raises $150M in Series F Funding. Motive provides fleet tracking and driver safety solutions through a combination of hardware and AI-powered software. The funds will be used to enhance its AI capabilities, expand globally, and support enterprise operations. The round was led by Kleiner Perkins with participation from AllianceBernstein Holding.

Baker Hughes Acquires Chart Industries for $9.6B. Baker Hughes, an oilfield services company, is acquiring Chart Industries, an industrial equipment maker. The acquisition will enable Blaker Hughes to diversify its business and hedge against the oil boom & bust cycles.

Who's Hiring? 👩‍💻

Be sure to check out the Dynamo website for more job opportunities at our portfolio companies!

Chief of Staff at FreightHero in Durham, NC.

Executive Assistant at Gatik in Mountain View, CA.

Accountant at Solvento in Mexico City, MX.

Dynamo Dispatch (2025/07/28)

Issue 339 | Makersite, Swift Navigation, Rune Technologies

💥 Have you seen any interesting startups recently? Introduce us.

🗞️ If you were forwarded this and found it interesting, please sign up.

🎙 Check out Dynamo's podcast series, The Future of Supply Chain.

🤝 Interested in meeting with Dynamo? Schedule here with Madelyn

Weekly Commentary 💭

We’re thrilled to welcome Madison Bench as the newest member of the Dynamo team. Madison joins us as a Partner’s Associate, where she’ll play a key role across LP relations, firm operations, and platform initiatives. She brings valuable experience from NightDragon, a growth-stage cybersecurity VC firm where she focused on business development and marketing. Welcome Madison!

🥰 Love reading the Dispatch? Make sure you forward it to anyone looking to stay up to date with all things in the industrial economy.

We Are Dynamo,

Madelyn, Madison, and the rest of the Dynamo team

Note: please add “dynamo@substack.com” to your email client, so you don’t miss future issues due to aggressive spam filters.

Make, Move & Monetize 📦

⭐ Trump’s New Trade Standard Takes Shape With 15% Tariff Deal. President Trump’s administration has reached a 15% tariff agreement with Japan and is close to finalizing a similar deal with the EU. While these agreements bring some clarity after months of uncertainty, trade deals with Canada and Mexico remain unresolved, with threats of 30–35% tariffs looming if no agreements are reached by August 1. The Japan deal includes a controversial $550B infrastructure investment fund financed by Japanese banks but controlled by the US. Although the 15% tariffs are lower than previously threatened rates, they are still expected to raise consumer prices and have sparked concern in the US auto industry over competitive disadvantages. Related, “It All Unraveled Quickly”: Family-Owned Business Laments Tariff and Trade Chaos.

How Walmart, Amazon, and Other Retail Giants are Using AI to Reinvent the Supply Chain—from Warehouse to Checkout. Retailers like Walmart and Amazon are leveraging AI to transform their supply chains in the face of global disruptions like tariffs and labor shortages. Walmart has deployed real-time AI systems globally to forecast demand, track trends, and reduce overstock, while Amazon is investing in generative AI tools and robotics to optimize logistics and cut costs. Companies like Albertsons are also using AI to accelerate shelf restocking, optimize labor, and extract insights from unstructured supplier data. The rise of agentic AI is driving a new era of supply chain automation, allowing for predictive operations and proactive problem-solving across functions. Related, How AI is Reshaping Supplier Negotiations and UPS Transforms Air Cargo Operations with Data, AI.

Apparel, Department Stores Struggling the Most Under US Trade Policy, Analysis Shows. Moody’s Ratings reports that US apparel, footwear, and department store retailers are under significant pressure from tariffs, weak consumer demand, and broader macroeconomic headwinds. While a temporary pause in some tariffs has softened expected EBIT declines from over 10% to 3–5%, revenue growth remains capped at around 3% due to limited pricing power. Value-oriented retailers like Walmart are expected to outperform, while others, such as Target, face challenges tied to higher exposure to discretionary goods. Moody’s maintains a negative outlook for the sector, citing persistent inflation, interest rate pressures, and a cooling labor market as ongoing risks. Related, Puma Inventory Headache Highlights US Tariff Dilemma for Retailers.

CMA CGM Reflags Vessel in First Move to Boost Size of US Fleet. CMA CGM is reflagging four 9,300-TEU container ships under the US flag in 2025, starting with the Phoenix, as part of a plan to triple its US-flag fleet to 30 ships over the next four years. The Phoenix, will operate on the Indamex service linking the US East Coast with South Asia. This move follows CMA CGM’s $20B commitment to expand its US logistics presence, announced after a White House meeting in March. The expansion is expected to boost employment of American seafarers by 50% and strengthen US maritime capabilities. Related, CMA CGM Phoenix Becomes Largest Containership Ever to Fly US Flag.

NATO Warns Ports Vulnerable to ‘Unprecedented’ Cyber Threats. A NATO report warns that global ports, which handle 80% of international trade and serve as critical military logistics hubs, are increasingly vulnerable to sophisticated cyber threats from state-linked actors in Russia, Iran, and China. These attacks, often targeting access control and vessel traffic systems, have disrupted major ports across Europe, the Middle East, and North Africa, with groups like NoName057 launching DDoS campaigns and Russian military intelligence-linked actors targeting maritime infrastructure in at least 11 countries. Related, Ports are Getting Smarter and More Hackable

Union Pacific, Norfolk Southern Say They Are in Advanced Talks Over Railroad Merger. Union Pacific and Norfolk Southern are in advanced discussions for a potential merger that could result in the largest rail operator in the US, spanning coast to coast. While no terms have been finalized, Union Pacific (valued at ~$140B) would acquire Norfolk Southern (valued at ~$60B), combining their networks into a massive transcontinental railroad. If approved, this deal would reshape the North American freight rail landscape, increasing efficiency by reducing interchange delays but also drawing intense scrutiny from regulators, labor unions, and industry stakeholders. The merger reflects growing consolidation trends in transportation infrastructure, with implications for supply chain dynamics, competition, and regulatory oversight. Related, What a Union Pacific – Norfolk Southern merger would look like

Autonomous Trucks Will Change Fleet Operations, But Not In The Way You Think. Volvo Autonomous Solutions is building a comprehensive ecosystem to support Level 4 autonomous trucking, focusing on six core elements including terminals, virtual drivers, and fleet uptime management.This signals a seismic shift in logistics, with massive cost savings (drivers make up ~40% of operational costs) and operational efficiencies on the table. For investors and logistics operators, this is a wake-up call: the competitive edge will come from controlling infrastructure—not just owning the truck. Unrelated, Copper's Physical Tariff Trade is Rapidly Unwinding

Mobility at the Margins: What Border Crossings Reveal Before Trade Data Does. Real-time border-crossing data is emerging as a powerful early signal of shifts in trade policy, supply chain behavior, and economic trends—often revealing actionable insights weeks before traditional data sources catch up. Captured through connected vehicles and mobility platforms, this data offers granular visibility into the movement of goods and people, enabling stakeholders to identify disruptions, demand shifts, or gray-market activity in near real time. Those who track border flow trends will be first to spot—and capitalize on—emerging macroeconomic shifts. Unrelated, Hyundai Motor Flags Larger Tariff Impact After Profit Drops.

Shipping Giants Form Self-Regulating Bunker Initiative. Several of the world’s largest shipping and energy companies have launched the Bunkering Services Initiative to bring greater transparency to the bunkering market, beginning in the Amsterdam-Rotterdam-Antwerp (ARA) region. The coalition, representing 20% of the region’s bunkering volume, will implement real-time monitoring, quality verification, and independent audits to ensure compliance and data integrity. This marks a major shift toward self-regulation in a historically opaque sector, with implications for pricing, supply chain reliability, and regulatory alignment. Related, “Turning Point” for Shipping: Incat to Build Two Battery Electric Ferries for Denmark.

Schneider Electric Unveils Supply Chain Decarbonisation Tool. Schneider Electric has launched Zeigo Hub, a digital platform designed to help companies decarbonize their supply chains by enhancing collaboration with suppliers, tracking Scope 3 emissions, and aligning with global sustainability reporting standards. Powered by agentic AI, the platform delivers tailored guidance, automates data collection, and simplifies onboarding to drive measurable emission reductions at scale—removing cost barriers for suppliers. Related, Can AI Drive Sustainability? IKEA Thinks So and Circularity in Fashion is ‘Mainstream’ but Progress Slowing: Report.

---

The Future of Supply Chain 🎙️

Check out our podcast series that’s been running since 2018. On each episode of the Future of Supply Chain, we sit down with a different entrepreneur, investor, or industry veteran to discuss innovation, technology, and the most exciting opportunities in supply chain as we build the future of the industry together.

---

Fundraises and M&A 💸

Spear AI Raises Seed Funding. Spear AI develops integrated maritime AI solutions. The funding will support the expansion of its product suite, enhancement of specialized maritime sensors, and scaling of technical and subject matter expert services. The round was led by Scare the Bear Capital and Cortical Ventures.

CVector Raises $1.5M in Pre-Seed Funding. CVector is an industrial AI company which creates AI agents in sectors such as chemicals, automotive, and energy. Schematic Ventures led the round.

Dockware Raises $2.5M in Seed Funding. Dockware enables autonomous capture of freight data for carriers and shippers. The round was led by Zenda, with participation from Four More Capital, Cortado Ventures, Starframe Capital, Hustle Fund, Operator Stack Fund, and a variety of strategic angels.

Mango Raises $3M in Seed Funding. Mango provides a digital platform for embedded credit and real-time B2B payments for the construction sector. The funding will support the deployment of structured credit, expansion across Mexico, and scaling of finance, engineering, and risk teams. The round was led by Ironspring Ventures, with participation from Brick & Mortar Ventures, Buildtech Ventures, BBVA Spark, and others.

Nexxa.ai Raises $4.4M in Pre-Seed Funding. Nexxa.ai builds AI agents that integrate with industrial engineers’ existing software systems to automate and accelerate complex technical operations without system overhauls. The funding will support team expansion and extend the company’s solutions into additional industrial sectors. The round was led by a16z speedrun with participation from Augment Ventures, Propeller Ventures, Plug and Play, Beat Ventures, SBI, Untapped Ventures, Cross Atlantic Angels, and notable angels.

Magentic Raises €4.7M in Seed Funding. Magentic provides domain-specific AI agents that identify savings opportunities in global manufacturing supply chains, even when master data is incomplete or inconsistent. The new funding will support the expansion of its AI agent platform, with a focus on capabilities such as supplier tariff analysis and supplier relationship management. The round was led by Sequoia Capital with participation from The Westly Group and First Momentum Ventures.

ketteQ Raises $8.7M in Series A Funding. ketteQ offers a supply chain planning platform that helps enterprise customers across industries simulate disruptions and adjust operations proactively. The funds will be used to accelerate product development, scale customer onboarding, and enhance analytics capabilities. The round was led by Circadian Ventures.

Nevoya Raises $9.3M in Seed Funding. Nevoya is an electric trucking carrier with AI orchestration and automation. The funding will support geographic expansion, development of its proprietary AI-powered Transportation Management System, and team growth. The round was led by Lowercarbon Capital, with participation from Floating Point, LMNT Ventures, Third Sphere, Stepchange, Never Lift, and strategic angels including Qasir Younis.

Estes Energy Solutions Raises $11M in Seed Funding. Estes Energy Solutions develops a chemistry-agnostic battery pack platform using novel materials and advanced manufacturing for high-voltage applications across sectors like defense, maritime, and aviation. The new funding will support team expansion, establishment of a domestic pilot manufacturing line, and deployment of battery systems to early customers. The round was co-led by BMW i Ventures and Fortescue Ventures, with participation from New Systems Ventures and DCVC.

Rune Technologies Raises $24M in Series A Funding. Rune Technologies is a military logistics platform. The funds will accelerate deployment across US military branches and enhance integration with edge-based and open-architecture systems like Palantir's OSDK. The round was led by Human Capital with participation from Pax VC, Washington Harbour Partners, A16Z, Point72 Ventures, XYZ Venture Capital, and Forward Deployed VC.

xLight Raises $40M in Series B Funding. xLight develops lasers aimed at transforming semiconductor manufacturing. The new capital will support continued R&D efforts and commercialization of next-gen laser systems. The round was led by Playground Global, with participation from Boardman Bay Capital Management and Morpheus Ventures.

Swift Navigation Raises $50M in Series E Funding. Swift Navigation provides a satellite positioning technology that enhances GPS accuracy to the centimeter level for applications in autonomy, robotics, and logistics. The funding will accelerate global adoption, expand partnerships, and support new innovations across automotive and industrial sectors. The round was led by Crosslink Capital, with participation from NEA, Eclipse Ventures, Niterra Ventures, EnerTech Capital, and others.

Makersite Raises $70M in Series B Funding. Makersite provides AI-powered Product Lifecycle Intelligence software that helps manufacturers design safer, more sustainable, and cost-effective products by creating digital twins to assess environmental and compliance impacts. The funding will support further development of its platform, deeper technology integrations, and global scaling. The round was co-led by Lightrock and Partech, with participation from SE Ventures, Hitachi Ventures, KOMPAS VC, Translink Capital, and Planet A.

Armada Raises $131M in Strategic Funding. Armada develops modular data centers, including its new Leviathan unit, which delivers megawatt-scale computing for edge AI applications in remote and infrastructure-constrained environments. The funding will support scaling production of Leviathan and accelerate deployment across strategic US and allied regions with surplus energy. The round included new strategic investors Pinegrove, Veriten, and Glade Brook, with continued participation from Founders Fund, Lux Capital, Shield Capital, 8090 Industries, M12, Overmatch, Silent Ventures, Felicis, and Marlinspike.

Who's Hiring? 👩‍💻

Be sure to check out the Dynamo website for more job opportunities at our portfolio companies!

Accountant at Solvento in Mexico City, MX.

Founder’s Associate at FreightHero in Durham, NC.

PLM Specialist at Gatik in Mountain View, CA.