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

Qargo, an intelligent transport management system (TMS), has raised $33 million in a Series B funding round led by Sofina, with participation from existing investor Balderton Capital. The round follows Qargo’s rapid expansion across key European logistics hubs over the last 18 months. This latest investment brings Qargo’s total funding to $54 million.

Founded in 2020, Qargo is a cloud-based transport management platform designed for carriers, freight forwarders, and 3PLs. It helps logistics companies digitise operations and automate manual tasks across the transport cycle, from order entry and planning to load building, invoicing, and reporting. The platform integrates with existing tools to support more efficient and profitable operations, reduce environmental impact, and enable scalable growth.

Qargo Intelligence, the platform’s AI engine, enables logistics companies to automate large parts of the end-to-end transport workflow, including order creation, route planning, trip optimisation, load building, invoicing, and warehouse time-slot booking. This automation has helped customers reduce time spent on repetitive administrative tasks by up to 75 per cent, saving hundreds of hours each week across planning, customer service, and back-office teams.

With the addition of agentic AI that can interact with external systems, Qargo’s platform is significantly reducing overhead costs and accelerating processes at a scale that traditional TMS systems cannot match. Its optimisation capabilities, which help companies run fleets more efficiently, can cut empty running by up to 30 per cent, a key advantage in a market where margins are under pressure from competition, decarbonisation requirements, and rising cybersecurity risks.

Since its Series A in May 2024, Qargo’s growth has accelerated, with annual customer invoicing processed through the platform increasing from £420 million to more than £1.9 billion, and its customer base expanding from around 100 to more than 400.

The Series B funding will enable Qargo to further scale its team, expand into new markets, and accelerate the development of its AI-driven product capabilities, while maintaining its independence and ability to partner with companies ranging from family-run firms to large enterprises.