Ukrainian company Cargofy successfully completed its Series A funding round, raising $11 million. The company plans to use the funds to expand its presence in new markets, increase foreign expertise, and develop its own R&D projects.
The total investment amount was $11 million, of which $6 million were direct investments and the remaining $5 million were secondary. The funding round saw participation from venture funds such as u.ventures, Toloka.vc, and Movens Capital. They were joined by Des Traynor, co-founder of Intercom, and other angel investors.
The funds raised in the round are planned to be distributed across three main directions: expanding international presence, increasing the proportion of foreign professionals in the company, and developing research-oriented projects. Specifically, the company intends to open new offices in Germany, the Netherlands, France, Spain, and several regions of the United States. Additionally, there are plans to enter the markets of Brazil, Mexico, and the Middle East. Regarding the team, Cargofy aims to increase the proportion of foreign professionals in its workforce from 10% to 40%. The company will also focus on enhancing the capabilities of its AI agents, which are already capable of performing a range of complex tasks in logistics operations.
Cargofy specializes in creating digital workers for logistics companies in Europe, the USA, and the Caspian region, integrating into existing processes without changing the operational structure. Among the company’s clients are SuuS, Nova Group, Kaspi, Zammler, Metinvest, and Vista.
| Investors | Investment Amount ($ million) |
|---|---|
| u.ventures | total part of the amount |
| Toloka.vc | total part of the amount |
| Movens Capital | total part of the amount |
| Angel Investors | total part of the amount |
