CargoFL, a B2B technology ecosystem revolutionizing logistics, has successfully secured ₹6.75 crore in its seed funding round, led by YourNest Venture Capital. Notable contributions include ₹4.7 crore from YourNest, ₹50 lakh each from Real Time Angel Fund (RTAF) and Peaceful Progress Angel Fund, ₹25 lakh from Sanchi Connect Accelerator, and ₹80 lakh from prominent angel investors, including Dinesh Chandra Agarwal, Dinesh Gulati, Murugavel Janakiraman, and Rajesh Sawhney.
The company previously raised $135K in funding from HPCL and others. This latest round aims to accelerate CargoFL’s growth in India, Southeast Asia (SEA), the Middle East and North Africa (MENA), and North America. Additionally, the funds will support product enhancements in logistics and supply chain automation, client onboarding, and implementation across these geographies.
Founded in 2017 by Deepesh Kuruppath and Wasim Khan, CargoFL offers an advanced AI decision intelligence platform designed to transform logistics and supply chain operations. The platform addresses critical functions, including transport management, route optimization, demand forecasting, and real-time tracking, empowering enterprise clients with robust and scalable AI solutions.
“Our mission is to redefine the logistics ecosystem through AI-driven innovations,” said Deepesh Kuruppath, Co-founder of CargoFL. “With this funding, we aim to enhance our product capabilities and expand globally, helping enterprises streamline their supply chain operations and achieve unparalleled efficiency.”
CargoFL caters to enterprises in retail, pharma, and manufacturing sectors and boasts a portfolio of over 25 large clients, including industry leaders such as Puma, Godrej, Schaeffler, Metro Brands, and Decathlon. Its comprehensive operating system fosters collaboration among carriers, distributors, and suppliers, ensuring seamless logistics management.
Looking ahead, CargoFL plans to achieve an Annual Recurring Revenue (ARR) of $3 million within 18-24 months by onboarding over 25 new clients in India and expanding into international markets.
By leveraging its cutting-edge AI solutions, CargoFL is set to redefine the logistics landscape, empowering businesses to overcome challenges and unlock new efficiencies.