CargoFL, a Pune-based AI-driven technology ecosystem for logistics and supply chain management, has raised Rs 6.75 crore in its seed funding round. The round was led by YourNest Venture Capital, which contributed Rs 4.7 crore. Additional investments included Rs 50 lakh each from Real Time Angel Fund (RTAF) and Peaceful Progress Angel Fund, Rs 25 lakh from Sanchi Connect Accelerator, and Rs 80 lakh from prominent angel investors such as Dinesh Chandra Agarwal, Dinesh Gulati, Murugavel Janakiraman, and Rajesh Sawhney.
Prior to this round, CargoFL had secured $135,000 in funding from HPCL and other investors.
The company plans to utilize the newly raised funds to build a robust sales engine for expansion across India, Southeast Asia (SEA), the Middle East and North Africa (MENA), and North America. Additionally, the funds will enhance CargoFL’s product capabilities, focusing on logistics and supply chain automation, client onboarding, and implementation across geographies.
Founded in 2017 by Deepesh Kuruppath and Wasim Khan, CargoFL operates as an AI decision intelligence platform tailored for large enterprise customers in the logistics and supply chain sectors. By integrating advanced AI solutions, CargoFL optimizes logistics operations, addressing critical areas such as transport management, route optimization, demand forecasting, and real-time tracking.
The platform fosters collaboration among key stakeholders, including carriers, distributors, and suppliers. It serves clients in industries such as retail, pharmaceuticals, and manufacturing, with a client roster featuring renowned names like Puma, Godrej, Schaeffler, Metro Brands, and Decathlon.
Looking ahead, CargoFL aims to onboard over 25 additional enterprise clients domestically and internationally, targeting an ARR of $3 million within the next 18-24 months. This expansion aligns with its mission to transform the logistics landscape with cutting-edge Vertical AI solutions, empowering enterprises to achieve operational excellence.
