CargoFL raises Rs 6.75 Cr in seed round led by YourNest

CargoFL, a B2B logistics technology platform, has raised Rs 6.75 crore in its seed round, led by YourNest Venture Capital.

The funding round includes Rs 4.7 crore from YourNest, Rs 50 lakh each from Real Time Angel Fund and Peaceful Progress Angel Fund, and Rs 25 lakh from Sanchi Connect Accelerator.

The round also includes Rs 80 lakh from prominent angel investors, including Dinesh Chandra Agarwal (MD and CEO of IndiaMART), Dinesh Gulati (COO of IndiaMART), Murugavel Janakiraman (Founder and MD of Bharat Matrimony), and Rajesh Sawhney (Founder of GSF Accelerator).

The Pune-based startup plans to allocate a portion of the funds towards building a sales engine to drive growth in India, Southeast Asia, the Middle East and North Africa, and North America. Another portion will be dedicated to enhancing product capabilities, including logistics and supply chain automation. The remaining funds will be used for client onboarding and implementation across various regions.

Founded in 2017 by Deepesh Kuruppath and Wasim Khan, CargoFL has transitioned from offering transport management software for fleet owners to an AI-driven platform serving enterprises in retail, pharma, and manufacturing. 

The startup’s clients include over 25 major companies, such as Puma, Godrej, Schaeffler, Metro Brands, and Decathlon. It aims to achieve a $3 million ARR within 18–24 months by adding over 25 customers in India and expanding internationally.

“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,” said Girish Shivani, General Partner, YourNest Venture Capital.