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Business deals

SoftBank Vision Fund leads $1.2bn funding for US logistics

$100bn tech fund expands investment to legacy businesses

Flexport said revenue doubled to $500 million in 2018 (photo courtesy of Flexport)

TOKYO -- SoftBank Group's giant technology fund is leading a consortium that is investing $1.2 billion in two U.S. logistics startups, increasing its bets in traditional industries.

The SoftBank Vision Fund led a $1 billion investment in freight forwarding startup Flexport on Thursday. The deal comes a day after it led a $200 million funding round for on-demand storage startup Clutter.

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