Qargo Raises $33m to Scale Agentic AI for EU Logistics Teams

Qargo, a transport management company, has raised US$33m in a Series B funding round. The investment is intended to accelerate its growth and increase the role of automation and artificial intelligence in the European logistics industry.

The company has experienced rapid growth over the last 18 months, expanding its capabilities to help boost efficiency for its clients.

Qargo provides an intelligent, cloud-based Transport Management platform designed to assist European logistics companies with digitalisation. It is built for carriers, freight forwarders and 3PLs, enabling the automation of repetitive work across the full transport cycle from planning to invoicing and reporting.

The platform integrates with existing tools to improve operational efficiency and profitability. This latest funding round brings the total investment in Qargo to US$54m and reflects the growing influence of AI on what has been a largely analogue industry.

Agentic AI in transport management

Qargo’s platform utilises agentic AI that can interact with external systems, a feature that could reduce overhead costs and speed up processes at a greater scale than traditional TMS systems. Its AI engine, named Qargo Intelligence, automates large portions of the end-to-end transport workflow.

According to Qargo, this has helped its customers spend up to 75% less time on repetitive manual administrative tasks, saving companies hundreds of hours each week across planning, customer service and back-office functions.

“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.

Adriaan adds: "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.”

Investment fuels AI-driven expansion

The funding round was led by Sofina, a Belgian investment company, alongside existing investor Balderton Capital. The new capital will help Qargo scale its team and expand into new markets.

Qargo has already increased its customer base from 100 to more than 400 since May 2024, and the new funding will support the expansion of its capabilities.

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

Anthony adds: "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.”

Enhancing fleet efficiency and security

The platform’s optimisation functionality can cut empty running by up to 30%, helping companies run their fleets more efficiently.

Stijn Gheyle, Chief Operating Officer at CLdN Cargo, a Qargo customer, 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.”

In addition to efficiency, the platform addresses security. Qargo achieved ISO 27,001 certification early in its operations and exclusively uses Google Cloud with Cloud Armour protection. It also conducts continuous code scanning and employs in-house security specialists.

As cyberattacks on the logistics sector rise, Qargo's cloud-first approach means customers do not need to manage their own security infrastructure.

The platform’s real-time work-sharing network also gives customers the same level of transparency and control as they would have with their own fleet, potentially reducing the manual communication typically required when using a TMS.