Funding Roundup: Qargo, OneOrder and Others Acquire 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 6 of their notable achievements:
Qargo Series A Funding
Transport management solution leader Qargo has secured $14M in a Series A funding round to advance its logistics technology. Led by Balderton Capital, this funding boost is set to help Qargo enhance its cutting-edge technology designed to increase efficiency in the transport sector, which is crucial given the environmental and economic challenges the industry faces. With the logistics industry under pressure due to rising costs and decarbonization efforts, Qargo’s solution promises up to ten times faster processing and significant reductions in manual data entry.
Year Founded: 2020
Founder(s): Adriaan Coppens, Joeri de Turck, Sander de Wilde
Location: London, United Kingdom
Latest Funding: US$14M Series A
Lead Investor(s): Balderton Capital
OneOrder Series A Funding
OneOrder, a leading Egyptian logistics startup, has secured $16M in Series A funding. Delivery Hero Ventures led the round, with participation from Norrsken22, Nclude, and A15. According to multiple sources, the startup plans to utilize the funds to grow the platform further, add more financing options for customers, including cards, and expand into the Gulf Cooperation Council (GCC) in autumn 2024. The GCC is made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.
Year Founded: 2022
Founder(s): Tamer Amer and Karim Maurice
Location: Cairo, Egypt
Latest Funding: US$16M Series A
Lead Investor(s): Delivery Hero Ventures
Max Retail Series A Funding
Max Retail, a marketplace for independent retailers and brands to sell excess inventory, has recently acquired $15M in a Series A funding round led by Nosara Capital. With an emphasis on catering to specialized retailers and brands, the business plans to utilize the fresh capital to more than double its sellers. Additionally, it plans to provide new technologies, such as an AI-driven pricing and allocating engine as well as SKU-level insights to assist retailers in comprehending the market value and inventory performance of each and every item featured on Max Retail.
Year Founded: 2018
Founder(s): Melodie Van der Baan
Location: Florida, United States
Latest Funding: US$15M Series A
Lead Investor(s): Nosara Capital
Bosso Pre-Seed Funding
Bosso, a Zambian construction e-commerce startup, has successfully raised $400,000 in a pre-seed funding round to enhance its platform and introduce new features. The platform is dedicated to making quality, affordable building supplies accessible throughout Zambia, thereby supporting the construction sector and contributing to addressing the housing deficit in Africa. This funding, contributed by Leonard by Vinci, Launch Africa Ventures, Renew Capital, Change-Com, and various angel investors, will help Bosso expand its reach within Zambia, develop new products, and integrate AI technology to improve sector efficiencies.
Year Founded: 2022
Founder(s): Chisepo Chirwa, Mukopaje Singogo, Ibn Kafwanka, and Salwa Shamapande
Location: Lusaka, Zambia
Latest Funding: $400k Pre-Seed
Lead Investor(s): Leonard by Vinci, Launch Africa Ventures, Renew Capital, Change-Com
Orca AI Post-Series A Funding
Leading AI-based ship operational platform Orca AI has secured $23M in a new funding round, led by OCV Partners and Mizmaa Ventures, bringing its total to around $40M. Yarden Gross and Dor Raviv founded the AI platform in 2018 intending to maximize ship and fleet sustainability, efficiency, and safety for ships and fleets. Orca minimizes a ship's environmental footprint while maintaining fleet safety with continuous monitoring that mimics and improves human watchkeeping.
Year Founded: 2018
Founder(s): Yarden Gross and Dor Raviv
Location: London, United Kingdom
Latest Funding: US$15M Post-Series A
Lead Investor(s): OCV Partners and Mizmaa Ventures
A huge congratulations to all the companies mentioned and we are looking forward to witnessing your growth in the months to come!
