Latest news with #Kargo
Yahoo
2 days ago
- Business
- Yahoo
Kargo Raises $18M to Set New Industry Standards for Inventory Management
Global supply chain leader Armada makes its first strategic investment in Kargo after successful implementation of AI solution across its national network of warehouse hubs SAN FRANCISCO, June 06, 2025--(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. "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 KargoKargo'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: About Matter Venture PartnersMatter 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: About ArmadaArmada 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: View source version on Contacts Media Contact Julie Bishopjulie@
Business Wire
2 days ago
- Business
- Business Wire
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 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. "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: 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: 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:
Associated Press
17-03-2025
- Business
- Associated Press
The GIST Joins Forces with Kargo to Expand Ad Reach and Fuel Women's Sports Coverage
NEW YORK, March 17, 2025 (GLOBE NEWSWIRE) -- The GIST, a revolutionary and inclusive sports media brand dedicated to leveling the playing field by providing equitable, in-depth, and digestible coverage to both women's and men's sports, has partnered with Kargo, an innovator in advertising solutions, to enable new advertising opportunities that will help drive the publication's financial growth. Through this collaboration, The GIST will leverage Kargo's Fabrik technology to host high-quality ads, providing a sustainable revenue stream while maintaining its mission of delivering engaging sports content from a fresh perspective. By implementing this technology, The GIST can continue to scale, reach a broader audience, and strengthen its impact in the women's sports media landscape. For Kargo, this cornerstone partnership is an opportunity to expand its Women's Sports Collective, which supports coverage of women's sports while expanding its Fabrik portfolio. With The GIST onboard, Kargo adds another influential digital publication to its network, reinforcing its commitment to helping independent publishers thrive. 'We're excited to partner with Kargo to continue our shared vision to level the playing field for women's and men's sport,' says Jacie deHoop, Co-Founder and Head of Partnerships at The GIST. 'This partnership will continue to bring well-deserved attention to athletes and the sports industry as we use Kargo's innovative technology across our platforms.' 'This partnership equips The GIST with cutting-edge technology to accelerate growth and sustainability,' says Michael Shaughnessy, Chief Operating Officer at Kargo. 'By supporting women's sports and independent publishers, we're driving a more diverse and impactful media landscape—ensuring The GIST can reach more audiences while building a strong, lasting business.' The partnership underscores a shared vision of increasing visibility and investment in women's sports while ensuring that The GIST has the resources to scale effectively. For more information on The GIST, visit To learn more about Kargo's Fabrik technology, visit About The GIST Founded in 2017, The GIST is a women-led, inclusive sports media brand that's leveling the playing field in sports. By providing engaging and accessible content through delivering top headlines in witty newsletters, and keeping sports fans informed and entertained via podcast and social media, The GIST is reshaping the sports industry and reinventing the dialogue around sports by providing equitable coverage to men's and women's sports. Dedicated to addressing the subjects and perspectives that have often been ignored, The GIST is rapidly growing an inclusive and empowering community for all sports fans. For more information on how The GIST is shaking up the sports industry, visit or follow The GIST on TikTok ( @thegistsports), Instagram ( @thegistusa, @thegistca) and X/Twitter ( @thegistusa, @thegistca). About Kargo As the only media marketplace with 100% premium supply, Kargo creates memorable advertising experiences that go beyond the first impression to captivate consumer attention. With a suite of exclusive, full-funnel advertising solutions. Kargo empowers leading brands to make meaningful customer connections across mobile, connected television, video and social. Focused on delivering results, Kargo helps the world's largest advertisers achieve incremental brand lift and higher returns on ad spend. For publishers, Kargo's proprietary platform maximizes revenue per impression through unique creative and targeting solutions. Founded in 2003, Kargo is a global company headquartered in New York with offices in Chicago, Los Angeles, Detroit, Sydney, Waterford, Singapore and Auckland. Contact: Emily Riley 914-330-1128
