MODERN Logistics (WD, São Paulo Viracopos) says it has secured BRR75million (USD30million) worth of private equity investment from Rio de Janeiro-based DXA Investments to aid in the launch of operations.

With services set to commence before the end of the year, Modern Logistics plans to operate a fleet of B737-400(F) aircraft on flights between Brazil's major hubs. Over the next five years, the start-up estimates its fleet will grow to 40 freighters operating flights to 15 logistics hubs throughout the country.

"Modern Logistics is focused on offering tailor-made logistics solutions for industrial clients with warehousing and distribution needs for high-value goods such as electronics, pharmaceuticals, cosmetics and auto parts," it said.

Brazil's first homegrown "end-to-end" logistics supply chain company, Modern Logistics is run by a group of seasoned executives including Azul Linhas Aéreas Brasileiras (AD, São Paulo Viracopos) co-founder, Gerald Blake Lee, and JetBlue Airways (B6, New York JFK) co-founder, John Owen.