CargoFL, a Pune-based B2B technology ecosystem for logistics, has raised ₹6.75 crore in its seed funding round, led by YourNest Venture Capital.
The round includes ₹4.7 crores from YourNest, ₹50 lakhs each from Real Time Angel Fund (RTAF) and Peaceful Progress Angel Fund, ₹25 lakhs from Sanchi Connect Accelerator, and ₹80 lakhs from prominent angel investors, including Dinesh Chandra Agarwal (MD & CEO of IndiaMART), Dinesh Gulati (COO of IndiaMART), Murugavel Janakiraman (Founder & MD of Bharat Matrimony) and Rajesh Sawhney (Founder of GSF Accelerator).
CargoFL plans to allocate 40% of the funds to build a sales engine for growth in India, Southeast Asia (SEA), Middle East and North Africa (MENA) and North America. Another 40% will focus on enhancing product capabilities, including logistics and supply chain automation.
The remaining 20% will support client onboarding and implementation across geographies. The company is also aggressively hiring for senior leadership roles, including Chief Product Officer, Chief Technology Officer, Chief Finance Officer, senior tech architects and business development executives, to fuel its expansion.
Deepesh Kuruppath Co-founder & CEO, said, “We plan to allocate funds toward product development, enhancing our sales engine, and improving customer onboarding and professional services. Our product goals include refining the user experience and developing an AI copilot to streamline enterprise logistics and supply chain operations. On the sales front, we aim to build a scalable engine to drive inbound traffic from SEA, MEA, and NA regions while expanding through strategic partnerships. For implementation, we will invest in a world-class professional services team to simplify onboarding onto CargoFL TMS.”
Wasim Khan, Co-founder & COO, said, “We aim to invest in our Business Analysts, recruit key business SMEs to improve implementation efficiency and enhance execution quality with a process-oriented approach for faster scaling. Additionally, we plan to identify critical supply chain AI use cases to develop innovative solutions, strengthening our competitive edge in domestic and international markets.”
Girish Shivani, General Partner, YourNest, said, “CargoFL stands out with its robust, AI-powered platform, and a seasoned founding team driving AI adoption in the logistics sector. Its dual strategy of targeting India and expanding globally through client-led initiatives positions it for significant success. Serving 25+ Fortune 500 enterprises, its cutting-edge Transport Management Software and innovative AI Box solution enables seamless, scalable and super-efficient logistics solutions. Focused On sustainability, CargoFL helps businesses achieve 4-11% cost savings while minimizing environmental impact, transforming logistics into a competitive advantage.”
Founded in 2017 by Deepesh Kuruppath and Wasim Khan, CargoFL is an AI decision intelligence platform for logistics and supply chain. The company serves as an AI operating system specifically designed for the supply chain and logistics industry with a focus on large enterprise customers. It helps companies enhance their logistics operations by leveraging AI to address critical tasks such as transport management, route optimisation, demand forecasting, and real-time tracking.
CargoFL provides an AI-driven platform tailored for enterprises in the retail, pharma and manufacturing sectors. Its current client roster includes over 25 large enterprises, such as Puma, Godrej, Schaeffler, Metro Brands and Decathlon.
CargoFL aims to achieve an ARR of $3 million over the next 18-24 months by onboarding more than 25 customers in India and several in international markets.
