CargoSense, a Reston, VA-based technology company specializing in supply chain automation and optimization, raised $8 million in Series A funding.
Investors
The round was led by Lanza techVentures. Merck Global Health Innovation Fund (MGHIF) joined the round as a strategic investor, along with Chicago-based venture firm SmoothBrain, channel partner The Pallet Alliance, and other previous private investors in CargoSense.
Lanza techVentures, an early-stage investment firm, acted as a strategic partner and advisor for early- to mid-stage companies in the design software and intellectual property (IP), semiconductor, and biotechnology market sectors. Founded in 2001, the firm invests in broad, forward-looking areas such as health and healthcare, pharma, computers, community-based, open-source silicon platforms, design tools, and the intersection of AI and medical.
CargoSense Use of Funds
The company will use the funding to execute expanding its partner ecosystem of integrated management systems, data sources, and industrial IoT (IIoT) platforms available to digital agents running on the Visibility OS.
About CargoSense
Founded in 2012, CargoSense provides a visibility OS platform for automating supply chain operations, enabling customers to get the full value of their visibility data to drive core systems and reduce the workloads of supply chain teams. This platform leverages visibility data and integrates various management systems, data sources, and industrial Internet of Things (IIoT) platforms. CargoSense serves a wide range of industries, including pharmaceuticals, where their solutions are particularly valuable for ensuring regulatory compliance, optimizing logistics, and enhancing overall supply chain performance. The company is on a mission to simplify supply chain operations through measurement, automation, and collaboration.
Funding Details
Company: CargoSense, Inc.
Raised: $8.0M
Round: Series A
Funding Month: June 2024
Lead Investors: Lanza techVentures
Additional Investors: Merck Global Health Innovation Fund (MGHIF), SmoothBrain, channel partner The Pallet Alliance
Company Website: https://www.cargosense.com/
Software Category: Supply Chain Operations Automation
Source: https://www.prnewswire.com/news-releases/cargosense-raises-8m-in-series-a-to-accelerate-software-automation-in-supply-chain-302169888.html