Qargo, the European logistics software scale-up modernising transport operations with autonomous AI, has closed a $33 million Series B round led by Sofina, with continued participation from Balderton Capital.
This raise brings Qargo’s total funding to $54 million as the company prepares for its next phase of international growth.
AI That Automates Transport Workflows End to End
Launched in 2020, Qargo provides a cloud-native transport management system used by carriers, freight forwarders and logistics providers across Europe. The platform replaces fragmented, manual processes with a unified workflow that automates planning, execution and administration.
At the centre of the system is Qargo Intelligence, an agentic AI engine that manages key logistics tasks including route and trip optimisation, load building, order creation, warehouse slot booking, invoicing and customer-service actions. Companies report that automation cuts repetitive administrative work by as much as 75%, freeing teams to focus on operational quality and customer relationships.
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Designed for Efficiency, Sustainability and Resilience
By reducing empty miles by up to 30%, the startup helps fleets operate more efficiently at a time when margin pressure, sustainability rules and cyber-risk are reshaping transport operations. The platform’s ability to interact autonomously with external tools and data sources marks a significant step beyond traditional TMS capabilities.
Rapid Commercial Momentum Since 2024
The firm’s growth over the past year has been significant. Annual invoicing processed through the platform has surged from £420 million to more than £1.9 billion, while the customer base has expanded fourfold — from just over 100 operators to more than 400 across key logistics hubs.
Series B Funding to Support Global Scale
With new capital in place, the company plans to expand its team, enter additional European markets and accelerate development of AI-led features that support larger, more complex logistics networks. The company also emphasises its commitment to maintaining independence, ensuring it can collaborate with transport operators of all sizes without conflicts of interest.
About Qargo
Qargo is a next-generation transport management platform built for road-logistics companies. By automating core processes, reducing administrative overhead and optimising fleet operations, Qargo enables logistics businesses to scale efficiently, improve service reliability and operate more sustainably.
