Qargo expands AI-driven transport management with $33M Series B

Qargo, an AI-driven transport management system (TMS), has secured $33 million in a Series B funding round, demonstrating continued investor confidence in European digital logistics. The investment, led by Sofina, highlights the growing importance of AI in optimizing supply chains and improving operational efficiency across the continent. This funding round brings the company's total funding to $54 million. Qargo, founded in 2020, offers a cloud-based platform that digitizes and automates transport operations, including order entry, planning, and invoicing. The platform's AI engine automates various tasks, potentially reducing time spent on administrative tasks by up to 75%. Furthermore, its optimization features can reduce empty running by up to 30%, which is beneficial for businesses. The platform is designed for carriers, freight forwarders, and 3PLs, enhancing their capacity for scalable growth. With the new capital, Qargo plans to expand its team, enter new markets, and further develop its AI-driven product capabilities. This move reflects a broader trend of European companies seeking digital solutions to improve competitiveness and navigate increasing regulations and costs. Since the Series A round in May 2024, Qargo's customer base has expanded from approximately 100 to over 400. Annual customer invoicing processed through the platform has also increased significantly, illustrating the accelerating adoption of AI in the logistics sector.