Funding Roundup: CargoFL, Deus Robotics and Other Received Fresh Capital
It has been a great couple of weeks for startups in the e-commerce, logistics, and supply chain space. In this week’s Ecosystem Funding Roundup, we are thrilled to feature 5 of their notable achievements:
CargoFL
CargoFL is a Pune-based B2B technology ecosystem for logistics. It has secured ₹6.75 crore in a seed funding round led by YourNest Venture Capital. CargoFL intends to use 40% of the cash to develop a sales engine for expansion in India, Southeast Asia (SEA), the Middle East and North Africa (MENA), and North America. Another 40% will be spent on improving product capabilities, such as logistics and supply chain automation. The remaining 20% will assist customers in onboarding and deployment across many geographies. To drive its growth, the business is rapidly looking for senior leadership positions such as Chief Product Officer, Chief Technology Officer, Chief Finance Officer, senior technical architects, and business development executives.
Year Founded: 2017
Founder(s): Deepesh Kuruppath, Wasim Khan
Location: Maharashtra, India
Latest Funding: ₹6.75 crore Seed
Lead Investor(s): YourNest Venture Capital
Deus Robotics
Ukrainian company Deus Robotics, which creates AI-powered warehouse automation, has raised $3 million in a venture round led by U.Ventures. The fresh capital will allow the business to grow into the UK market and improve its AI robots. Also, it will help the company's goals to transform warehouse operations by using robots that can communicate and work effortlessly. Deus Robotics intends to build communication capabilities into its robots, allowing them to collaborate efficiently across several platforms. This invention will unite robots from multiple manufacturers in a single, uniform platform.
Year Founded: 2018
Founder(s): Pavlo Pikulin
Location: Kyyiv, Ukraine
Latest Funding: US$3M Seed
Lead Investor(s): U.Ventures
Cimulate
Cimulate, a pioneer in enterprise AI for commerce, announced a $28 million Series A funding round headed by Spark Capital, with participation from early stage investors Sierra Ventures and Pillar VC, as well as LFX Venture Partners and Commerce Ventures. Cimulate's funding comes at an ideal moment for the commerce sector, with hundreds of billions of dollars wasted each year due to search abandonment. This capital will help Cimulate pursue its mission to disrupt commerce by providing revolutionary consumer experiences through scalable personalization built on a foundation of generative AI-based search.
Year Founded: 2023
Founder(s): John Andrews and Vivek Farias
Location: Boston, United States
Latest Funding: US$28M Series A
Lead Investor(s): Spark Capital
DeepWay
DeepWay recently announced the successful closing of its Series B funding, which raised a total of 750 million RMB. ZHONGAN Capital and Puhua Capital co-led this round, featuring additional funding from current investor CCB Trust. Other investors in this round include CGTI Fund, Hefei Industry Investment Capital, and Feixi Industry Investment Holdings Ltd, which together provide major support for DeepWay's expansion. The funds obtained in this round will be utilized to advance R&D and mass manufacturing of DeepWay's electrification and intelligent technologies for heavy trucks in Hefei. Additionally, the business intends to enhance its core component industrial layout in Changxing, Zhejiang.
Year Founded: 2020
Founder(s): Wan Jun
Location: Beijing, China
Latest Funding: 750M RMB Series B
Lead Investor(s): ZHONGAN Capital and Puhua Capital
Toyota Engineering & Manufacturing North America
Toyota Engineering & Manufacturing North America (TEMA), which includes Toyota Motor North America (TMNA) R&D, has been awarded $4.5 million by the United States Department of Energy's Advanced Research Projects Agency-Energy (ARPA-E). The funding is part of the Catalyzing Innovative Research for Circular Use of Long-Lived Advanced Rechargeables (CIRCULAR) Program. This facilitates a circular domestic supply chain for electric vehicle (EV) batteries. Automating battery pack disassembly, data-driven battery classification, and dealing with cell degradation are among the areas of focus.
Year Founded: 2006
Founder(s): No information
Location: Texas, United States
Latest Funding: US$4.5M
Lead Investor(s): U.S. Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E)
