Qargo: Driving Logistics Automation with US$33m Investment

Qargo has raised US$33m in Series B funding, will will significantly help modern logistics companies in their automation journey. 

The company has grown rapidly throughout the last 18 months, increasing its capabilities to boost efficiency in logistics.

With greater automation and security, Qargo's clients can feel secure within their operations as they undergo their own transformation.

A new investment

Qargo is a Belgian intelligent, cloud-based Transport Management platform, working to guide European logistics companies into digitalisation and automation. It is designed for carriers, freight forwarders and 3PLs, allowing them to automate their repetitive and manual work across the full transport cycle. It seamlessly integrates with existing tools and can be used from transport planning to invoicing and reporting, with the aim of boosting operational efficiency and profitability. 

The company has announced the securing of US$33m in Series B funding, which was led by Sofina, a Belgian investment company, and existing investor Balderton Capital. Sofina partners with leading entrepreneurs, providing advice and patient capital in order to foster long-term growth.

The funding news now takes Qargo's total investment raised to US$54m, following the company's rapid expansion across some of Europe's key logistics hubs over the last 18 months. It also reflects the growing impact of AI on what has always been an analogue industry.

“This round is a strong endorsement of our progress and our mission to modernise transport management," explains Adriaan Coppens, CEO and Co-Founder of Qargo.

"Since our Series A we’ve grown revenue, customers and team at an exceptional pace, while remaining highly capital efficient. The Series B funding allows us to continue investing and grow the team so that we can keep offering the same level of customer service.” 

Growing to scale

Qargo's platform uses agentic AI which can interact with external systems, which also allows it to reduce overhead costs and accelerate processes at a greater scale and speed than traditional TMS systems. Through its optimisation functionality, it can cut empty running by up to 30%, helping companies run fleets more efficiently. 

The new funding will help Qargo scale its team further and expand into new markets, partnering with a range of companies in order to transform logistics. It has already undergone rapid expansion, having increased its customer base from 100 to more than 400 since May 2024, but the new funding will ensure it can increase its capabilities even further.

Stijn Gheyle, Chief Operating Officer at CLdN Cargo, says: “Efficiency, transparency, and flexibility are central to our customer offering. Qargo’s intelligent transport management platform provides the scalability and automation we need to further enhance our multimodal services and deliver an even better experience for our customers.”

Technology and AI security

The platform's AI engine, Qargo Intelligence, automates significant parts of end-to-end transport workflow, which has helped its customers spend up to 75% less time on repetitive manual administrative tasks. Companies, therefore, are saving hundreds of hours each week on planning, customer service and back-office teams.

Moreover, Qargo's customers can be confident in the security the company offers. It achieved ISO 27001 certification early into its operations, exclusively using Google Cloud with Cloud Armor protection. It conducts continuous code scanning, with regular testing and in-house security specialists in order to ensure customer data remains safe.

Its cloud-first approach gives Qargo a critical advantage as cyberattacks on logistics rise, as it means customers do not need to manage their own security, instead putting that into the hands of Qargo. 

"Qargo’s experienced team combines deep industry knowledge with strong product velocity and client centricity. This results in exceptional customer traction," adds Anthony Keusters, Principal at Sofina.

"Road transport is the backbone of Europe’s economy, and Qargo is delivering meaningful, measurable cost and CO2 efficiency gains for fleets of all sizes. They are building something genuinely transformative in the transport-technology market, and we are excited to back them on the journey ahead.”

Qargo's real-time work-sharing network allows customers to have the same transparency and control as they would using their own fleet, reducing the need for manual back-and-forth sharing typically needed when using a TMS. Daily subcontracting and transparency is essential to profitability within this sector, meaning Qargo is meeting the needs of its clients and helping them scale significantly.