Latest news with #Lineage
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:
Daily Record
5 days ago
- Business
- Daily Record
Debenhams shoppers rush to grab £78 watch that is 'mistaken for Rolex' before Father's Day
'Excellent looking watch! Great shine, perfect case size and good weight.' With Father's Day just around the corner, a watch can be a quality gift to give your loved ones that is both practical and heartfelt. What's better is that Debenhams is holding a massive sale on many popular timepieces so you won't need to break the bank. One issue that can arise when buying a watch is that the style may be perfect, but your preferred colour is not part of the advertised selection. If this is a common issue shoppers encounter, we have found a watch that has six different colourways available. The STÜHRLING Original Lineage Classic 42mm Quartz Watch normally retails for £720, but shoppers can snatch it up for £78.75 after a massive 89 per cent discount. Designed with a sleek polish and an ultra-thin profile, the Lineage watch is sure to look elegant for a formal event as well as become a go to timepiece for everyday wear. Boasting luminous stick hands and hour markers, these are perfectly framed by a striking fixed coin edge bezel. Powered by a Miyota 2315 Japanese quartz movement, this watch will consistently keep its wearer on time no matter the occasion. Finished off with a 20mm stainless steel link bracelet, this timepiece is said to provide "sharp looks and supreme comfort". As mentioned, this watch is available in six colourways on the Debenhams website. However, shoppers will need to be quick to grab their favourite as some of the designs are noted as having limited stock left. Customers can choose silver, two-tone or a rose gold bracelet and either a white, black or blue dial. STÜHRLING Original Lineage Classic 42mm Quartz Watch. Product Description Another watch available in the sale is the STÜHRLING Original Ascot Quartz 38mm Classic Watch which features a leather strap. Normally retailing for £400, shoppers can now grab this elegant black and rose gold watch for £60 after a 85 per cent reduction. Alternatively, H. Samuel has reduced the price of the Citizen Men's Blue Chronograph Watch. Usually priced at £250, shoppers can now get this stunning silver and blue watch for half the price at £125 just in time of Father's Day. However, many shoppers have been interested in the Lineage Watch, which has an array of positive reviews from delighted shoppers on both the Debenhams and Stuhrling websites. One happy watch lover said: "This a very stylish watch and is great for dress and casual. A dead ringer for that expensive watch that begins with an 'R', but I don't need to mortgage my home to own it!" Another shopper agreed, writing: "The watch looks amazing, the first time wearing it, I had so many compliments and multiple people asking is that a Rolex; it just kept shining on your wrist during the whole meeting. Great purchase." However, a third shopper wasn't pleased with the size of the watch. They said: "The watch is fine but the strap is VERY large. My husband is 6'1" and we had to have a jeweler take a full inch out of it which was a nuisance." Fashion deal of the week In need of new trainers, but don't want to pay Skechers prices. Then these STQ Women's Slip-On Trainers are said to be "much better" than the famed brand. Even better, they are currently priced from just £30.99 on Amazon. With their slip-on style design and ultra-breathable mesh material, these trainers are said to be a fuss-free option for anyone who spends long periods of time on their feet, alongside anyone who suffers from foot pain issues such as plantar fasciitis. The flexible knitted material features an elastic cuff, making them easy to pop on and take off, while the wide fit fabric has been designed to make it feel like you are wearing nothing on your feet. Crafted with over 1,000 ventilation holes, they ensure that feet don't get to sweaty during wear, while the memory foam insole provides good arch support, making it feel "like walking on air". Available to buy in sizes three through to eight, shoppers can select from eight colours including black, grey and pink. However, it's worth noting that the £30.99 price-tag is available on the black colourway. With the STQ Trainers posing the cheapest price-tag, shoppers might be happy to hear that they have earned a 4.4 rating based on over 5,000 Amazon reviews that suggest they are "light as a feather" and "really comfortable". One delighted shopper said: "Super lightweight, comfortable and a fab colour pink. Much better all round than the Skechers I bought at four times the price! Your feet will love these." Whereas, another reviewer wasn't happy with the quality: "It's a nice looking watch but unfortunately it doesn't feel as good as it looks, I'd say it feels like a Seconda" Despite this, a five-star reviewer commented: "Excellent looking watch! Great shine, perfect case size and good weight. Great watch for the price!!!" With a further shopper praising: "I have a Stuhrling watch for many years and love it so I decided to buy one for my husband as a surprise and he loves it. He has worn it since the day he received. I would buy again." Click HERE to buy the STÜHRLING Original Lineage Classic 42mm Quartz Watch. Join the Daily Record WhatsApp community! Get the latest news sent straight to your messages by joining our WhatsApp community today. You'll receive daily updates on breaking news as well as the top headlines across Scotland. No one will be able to see who is signed up and no one can send messages except the Daily Record team. All you have to do is click here if you're on mobile, select 'Join Community' and you're in! If you're on a desktop, simply scan the QR code above with your phone and click 'Join Community'. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. To leave our community click on the name at the top of your screen and choose 'exit group'.
Business Wire
6 days ago
- Business
- Business Wire
Lineage, Inc. Announces Chief Financial Officer Retirement and Transition Plan
NOVI, Mich.--(BUSINESS WIRE)--Lineage, Inc. (NASDAQ: LINE) (the "Company"), the world's largest global temperature-controlled warehouse REIT, today announces the planned retirement of its Chief Financial Officer, Rob Crisci. The Company has started the process of identifying a successor for the position with the assistance of a leading executive search firm. Crisci will continue as CFO until a successor is in place and will remain with Lineage through a subsequent transition period. 'On behalf of the Board of Directors and Lineage's executive leadership team, I want to recognize Rob for his important contributions to the Company, which include his leadership through last year's highly successful initial public offering,' said Greg Lehmkuhl, President and Chief Executive Officer of Lineage. 'During his tenure, Rob and his team have recruited and developed several talented professionals across our finance organization, which will help to enable a smooth transition and set up our future CFO for success. We appreciate that Rob will continue to serve in his position and provide support during the transition process with his successor, once selected.' Crisci joined Lineage in April 2023 in advance of the Company's initial public offering, which launched in July 2024. Prior to joining Lineage, Crisci was a senior executive at Roper Technologies (NASDAQ: ROP) for a decade, including six years as their Chief Financial Officer. 'I've been honored to lead Lineage's finance organization through our transition to the public market and look forward to continuing my service as CFO while we search for my successor,' said Crisci. 'As the global market leader, Lineage is well positioned to drive meaningful value for all our stakeholders. I'm proud of the team we've built and excited for the future of Lineage.' About Lineage Lineage, Inc. (NASDAQ: LINE) is the world's largest global temperature-controlled warehouse REIT with a network of over 485 strategically located facilities totaling approximately 86 million square feet and approximately 3.1 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world's largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world. Learn more at and join us on LinkedIn, Facebook, Instagram, and X.
Business Wire
6 days ago
- Business
- Business Wire
Lineage Issues Business Update Ahead of REITweek Presentation
NOVI, Mich.--(BUSINESS WIRE)--Lineage, Inc. (NASDAQ: LINE) ('Lineage' or the 'Company'), the world's largest global temperature-controlled warehouse REIT, has issued a business update ahead of its fireside chat at Nareit's REITweek 2025 Investor Conference, scheduled for Tuesday, June 3, 2025, at 11:45 a.m. E.T. In the business update, which is available at Lineage is reaffirming its 2025 guidance and announcing that its second quarter to date is in line with expectations. About Lineage Lineage, Inc. (NASDAQ: LINE) is the world's largest global temperature-controlled warehouse REIT with a network of over 485 strategically located facilities totaling approximately 86 million square feet and approximately 3.1 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world's largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world. Learn more at and join us on LinkedIn, Facebook, Instagram, and X. Forward Looking Statements Certain statements contained in this press release may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Lineage intends for all such forward-looking statements to be covered by the applicable safe harbor provisions for forward-looking statements contained in those acts. Such forward-looking statements can generally be identified by Lineage's use of forward-looking terminology such as 'may,' 'will,' 'expect,' 'intend,' 'anticipate,' 'estimate,' 'believe,' 'continue,' 'seek,' 'objective,' 'goal,' 'strategy,' 'plan,' 'focus,' 'priority,' 'should,' 'could,' 'potential,' 'possible,' 'look forward,' 'optimistic,' or other similar words. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Such statements are subject to certain risks and uncertainties, including known and unknown risks, which could cause actual results to differ materially from those projected or anticipated. Therefore, such statements are not intended to be a guarantee of Lineage's performance in future periods. Except as required by law, Lineage does not undertake any obligation to update or revise any forward-looking statements contained in this release.
