Kargo has raised $42 million in Series B funding to expand its AI-powered warehouse and logistics platform, scaling enterprise deployments across global supply chains.
The round was led by Avenir, with participation from Linse Capital, Hearst Ventures and Lightbank. The funding will accelerate Kargo's mission to automate warehouse operations through artificial intelligence.
According to Grand View Research, the global AI in warehousing market is expected to grow from $11.22 billion in 2024 to $45.12 billion by 2030, reflecting a compound annual growth rate of 26.1%.
"We're seeing unprecedented demand for intelligent automation solutions," said Kargo's CEO. "This funding allows us to meet that demand at scale while continuing to innovate."
Source: Robotics and Automation News