Balderton Capital

Assembly Line

Qargo raises £11 million to build the all-in-one platform to streamline the logistics industry

📅 Date:

🔖 Topics: Acquisition

🏢 Organizations: Qargo, Balderton Capital

The Series A funding was led by Balderton, and will be used to for international expansion, product development and hiring.

Qargo’s cloud-first SaaS platform integrates seamlessly with customers’ systems, serving as their operating system. Qargo customers can process orders up to 10 times faster than traditional tools, auto-import PDFs and automate address lookups to make route planning and deliveries easier. The planning algorithm automatically combines loads into optimal journeys that minimise distance, duration and carbon emissions. This allows Qargo customers to reduce the number of empty miles, with empty or unfilled trucks producing more emissions than all international flights combined. Qargo also enables logistics companies to provide a great customer experience thanks to a state-of-the-art customer portal and deep integrations with shipper systems, so they have real-time visibility into transit for peace of mind.

Qargo’s customers have used the platform to slash fleet mileage and transform operational efficiency. One UK customer, Anglia Freight, has used Qargo to achieve an annual saving of over 200,000 miles, cut routes by over 20 minutes per vehicle per day and secure new contracts.

Read more at Balderton News