Qargo, an AI-native transport management system modernising Europe’s logistics sector, has raised $33 million (£24.6 million) in Series B funding, led by Sofina with continued backing from Balderton Capital. The round brings Qargo’s total funding to $54 million and follows rapid expansion across major European logistics hubs.
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Founded in 2020, Qargo applies agentic AI to automate end-to-end transport workflows, including planning, load building, invoicing, and warehouse scheduling, helping customers cut administrative time by up to 75% and reduce empty fleet miles by as much as 30%. Since its Series A in 2024, invoicing processed through the platform has grown from £420 million to more than £1.9 billion annually, with its customer base quadrupling.
The new capital will be used to expand Qargo’s team, accelerate product development, and support further international growth while maintaining a strong focus on security and operational resilience.
Featured image: Credit: Qargo
