Qargo Secures €12 Million Series A Funding for Expansion
Qargo, a transportation management solution based in London, UK, and Ghent, Belgium, recently secured €12m in Series A funding. The funding round was spearheaded by Balderton Capital, a venture capital firm known for backing innovative startups in various industries. This substantial investment will provide Qargo with the financial resources necessary to expand into new markets, enhance its product offerings, and bolster its engineering team to accommodate its rapidly growing customer base.
Established in 2020 by Adriaan Coppens, Joeri de Turck, and Sander de Wilde, Qargo offers a sophisticated SaaS transport management solution that seamlessly integrates with customers' existing systems.
This integration streamlines operations by meeting software requirements, assisting with load planning, optimizing stops and distances, and automating time-consuming administrative tasks. By utilizing Qargo's platform, customers can efficiently process orders, automatically import PDF files, and simplify route planning and deliveries with automated address lookups.
One of the key advantages of Qargo's transport management solution is its proprietary planning algorithm, which consolidates loads into highly efficient journeys that minimize distance, duration, and carbon emissions. This optimization strategy helps reduce the number of empty miles traveled, thereby reducing harmful emissions generated by underutilized trucks. In March 2024 alone, Qargo's software facilitated an impressive 175,000 journeys across Europe, showcasing the tangible environmental and operational benefits that the platform offers to its growing customer base.
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