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Qargo, a transport management company based in London, UK, and Ghent, Belgium, has successfully raised €12 million in Series A funding led by venture capital firm Balderton Capital. This capital infusion, secured in 2024, is set to propel the company's expansion into new markets, enhance product development, and bolster its engineering team to accommodate a rapidly expanding customer base.
Established in 2020 by Adriaan Coppens (CEO), Joeri de Turck (CTO), and Sander de Wilde, Qargo specialises in a SaaS-based transport management system that seamlessly integrates with existing customer infrastructures to enhance operational capabilities. The platform is designed to streamline load planning, optimise routing and distances, and automate various administrative processes.
Qargo's advanced features allow customers to accelerate order processing beyond the capabilities of traditional tools. These include functionalities like automatic PDF imports and address lookups, which simplify route planning and delivery operations. Moreover, its sophisticated planning algorithm intelligently consolidates shipments into efficient journeys that reduce travel time and distance and significantly cut carbon emissions. This optimisation contributes to decreasing the prevalence of empty runs, which, as noted by Qargo, generate more emissions than all international flights combined.
Highlighting the effectiveness of their solution, Qargo reported that in March 2024 alone, its software facilitated 175,000 journeys throughout Europe, underscoring its substantial impact on the logistics sector.
Adriaan Coppens, co-founder and CEO of Qargo, said: "Road transport is the backbone of European commerce, and there's no reason why it should be run on decades-old software. We're proud that we can offer a secure cloud-based solution, with AI-based automation in an affordable subscription model that has helped our customers drive efficiencies in their business. Qargo is processing tens of millions in revenue and has become a true partner to the transport companies, which are the backbone of many sectors. We're delighted to partner with Balderton to power our growth and look forward to taking Qargo to the next level."
Rob Moffat, the partner at Balderton Capital, said: "Logistics is a $5T market globally but is often overlooked by software companies. Most companies in the sector are still using incredibly dated software which does not meet their needs, and working around this with whiteboards and calls. What we love about Adriaan, Joeri, and Sander is that they are outsiders to the industry, having previously built a successful software business, OTA Insight, but have completely immersed themselves in transport management software. They have built a modern SaaS that their users spend all day using and really love. I have never before heard customer testimonials as positive as Qargo's - their customers are really emotional about how Qargo improves their working lives. What's more, the significant impact Qargo can have on carbon emissions by reducing empty truck miles and improving asset utilisation is really important to us."
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