Kargo Raises $18M to Set New Industry Standards for Inventory Management
SAN FRANCISCO--(BUSINESS WIRE)-- Kargo, a leader in industrial artificial intelligence (AI) technology, announced an $18.4 million investment led by Matter Venture Partners, with participation from previous investors Sozo Ventures and Founders Fund, as well as existing customers and new strategic investors Lineage and Armada Supply Chain Solutions, LLC. Kargo also announced the successful rollout of its computer vision solution at 240 Armada dock doors to automate inventory management across the food supply chain provider's national network of warehouse hubs.
Kargo Raises $18M to Set New Industry Standards for Inventory Management
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'Comprehensive, proprietary data is the key to unlocking the full potential of AI. Kargo has become the trusted provider of inventory data to leading global supply chains. AI plays a critical role in supply chain integrity and we're helping customers across industries build their AI stack to connect their warehouses, back offices and customers,' said Sam Lurye, founder and CEO of Kargo. 'This capital investment enables Kargo to develop new products that connect supply chain data and rapidly expand our customer base.'
Kargo provides Kargo Towers and Kargo Lifts, integrated hardware and software solutions that automate freight data capture and verification. Kargo Towers are installed at warehouse loading docks or gateways, and use AI-powered cameras to gather information on freight labels, cases and product condition. Kargo's LLM structures the image data into coherent inventory information to flag exceptions (i.e. overages, shortages, damage or compliance concerns) in real-time. The Kargo Lift is purpose-built for forklifts and automated guided vehicles (AGVs) and extends Kargo's AI capabilities to a new vantage point.
By providing visual proof of the contents and condition of every pallet, Kargo supplies customers with accurate and timely inventory data. This deep technical moat has resulted in:
7x YoY Customer Growth: serving 25 customers, including Armada, Tyson, Lineage, Tillamook, Utz, Wayne Sanderson, Aurobindo, DB Schenker, and NFI. Currently, Kargo manages over 500 active towers and forklifts in the field.
$200M of Inventory Processed Daily: handling approximately 20,000 pallets per day and 2M scans per week.
215% NRR: customers are quick to adopt, adapt and act on increased visibility to valuable supply chain data, typically doubling Kargo hardware deployments within the first year.
47 days from signature to go-live: Kargo's platform is built on the principles of rapid time-to-value and no change management. Kargo doesn't rely on customers' infrastructure to install their products, introducing minimal change to existing processes.
"Kargo played a critical role in our ability to successfully implement AI in a meaningful way. We were live in under a month, significantly enhancing our inventory management. Our clients – predominantly large, multi-unit restaurant companies – benefited almost immediately from increased accuracy and traceability.' said Rick Rover, President of Armada's warehouse division. 'Our commitment to reliability, agility, and resilience ensures exceptional service that consistently benefits our clients.'
'Kargo is redefining how supply chains operate by making freight data visible, reliable, and actionable at scale,' said Haomiao Huang, Founding Partner at Matter Venture Partners. 'Their rapid customer adoption, real-world impact, and deep technical moat make them a category-defining company in logistics AI. We're proud to back Kargo as they build the modern infrastructure layer for the physical economy.
About Kargo
Kargo's mission is to create a universal interpreter for supply chains by using computer vision to connect the physical world of freight to the digital systems used to manage it. Kargo believes that applications of artificial intelligence like this are critical to a more efficient future for logistics. The Kargo system verifies all inbound and outbound freight in real-time, aggregating data, ensuring accuracy, and providing visibility that enables efficient warehouse operations and supply chain management. Kargo was founded in 2019 and is headquartered in San Francisco. To learn more, visit: https://kargo.ai/
About Matter Venture Partners
Matter Venture Partners is a venture capital firm dedicated to accelerating HardTech innovation—reshaping industries like semiconductors, robotics, AI infrastructure, and electrification. As experienced founders and investors, Matter combines capital with deep technical and operational expertise to help startups scale. The firm partners with strategic LPs and leverages a global supply chain network to support founders from early product-market fit through industrial-scale growth. Matter raised a $311 million inaugural fund in 2023 and is headquartered in Palo Alto, California. To learn more, visit: www.mattervp.com
About Armada
Armada Supply Chain Solutions creates innovative, data-driven, fully integrated supply chain solutions that improve business performance for our clients, enabling them to serve their customers best. We deliver supply chain solutions with extraordinary service, powered by technology, driven by analytics, operating at scale. We are revolutionizing the way supply chains are managed by creating resilient and agile networks to manage the challenges of today's market. Armada believes there's a better way – a better way rooted in transparency, advocacy, and ingenuity. To learn more, visit: www.armada.net
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Kargo Raises $18M to Set New Industry Standards for Inventory Management
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SAN FRANCISCO--(BUSINESS WIRE)-- Kargo, a leader in industrial artificial intelligence (AI) technology, announced an $18.4 million investment led by Matter Venture Partners, with participation from previous investors Sozo Ventures and Founders Fund, as well as existing customers and new strategic investors Lineage and Armada Supply Chain Solutions, LLC. Kargo also announced the successful rollout of its computer vision solution at 240 Armada dock doors to automate inventory management across the food supply chain provider's national network of warehouse hubs. Kargo Raises $18M to Set New Industry Standards for Inventory Management Share 'Comprehensive, proprietary data is the key to unlocking the full potential of AI. Kargo has become the trusted provider of inventory data to leading global supply chains. AI plays a critical role in supply chain integrity and we're helping customers across industries build their AI stack to connect their warehouses, back offices and customers,' said Sam Lurye, founder and CEO of Kargo. 'This capital investment enables Kargo to develop new products that connect supply chain data and rapidly expand our customer base.' Kargo provides Kargo Towers and Kargo Lifts, integrated hardware and software solutions that automate freight data capture and verification. Kargo Towers are installed at warehouse loading docks or gateways, and use AI-powered cameras to gather information on freight labels, cases and product condition. Kargo's LLM structures the image data into coherent inventory information to flag exceptions (i.e. overages, shortages, damage or compliance concerns) in real-time. The Kargo Lift is purpose-built for forklifts and automated guided vehicles (AGVs) and extends Kargo's AI capabilities to a new vantage point. By providing visual proof of the contents and condition of every pallet, Kargo supplies customers with accurate and timely inventory data. This deep technical moat has resulted in: 7x YoY Customer Growth: serving 25 customers, including Armada, Tyson, Lineage, Tillamook, Utz, Wayne Sanderson, Aurobindo, DB Schenker, and NFI. Currently, Kargo manages over 500 active towers and forklifts in the field. $200M of Inventory Processed Daily: handling approximately 20,000 pallets per day and 2M scans per week. 215% NRR: customers are quick to adopt, adapt and act on increased visibility to valuable supply chain data, typically doubling Kargo hardware deployments within the first year. 47 days from signature to go-live: Kargo's platform is built on the principles of rapid time-to-value and no change management. Kargo doesn't rely on customers' infrastructure to install their products, introducing minimal change to existing processes. 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