Belgian TMS startup Qargo secures €28 million to scale operations and product development
Belgian Transport Management System (TMS) startup Qargo has secured €28 million in Series B funding, led by Sofina, bringing the total investment to €46 million. The Ghent-based company's platform aims to reduce operating costs for European transport operators through digitization and automation. This funding round demonstrates continued investor interest in efficiency-driven logistics software and supports the modernization of transport management across Europe. Qargo's cloud-based platform, founded in 2020, offers an AI engine, Qargo Intelligence, that automates various transport workflow aspects, including order entry, route planning, and invoicing. The AI-powered automation reportedly reduces time spent on manual tasks by up to 75%. Additionally, the platform's optimization features can cut empty running by up to 30%, increasing operational efficiency. This investment underscores the growing focus on digital solutions within the European logistics sector. Qargo's TMS platform is expected to impact transport operators, freight forwarders, and 3PLs by enhancing their efficiency, transparency, and flexibility. The company's expansion and product development will likely influence how European logistics companies manage their operations and adapt to evolving market demands. This Series B funding positions Qargo to scale its operations and further develop its product offerings. The company's growth aligns with the broader trend of technology-driven transformation in European transport and logistics, as other startups develop AI-driven solutions and electric cargo bikes.
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