Kargo Raises $18M to Set New Industry Standards for Inventory Management

SAN FRANCISCO--(BUSINESS WIRE)--Jun 6, 2025--

Kargo, a leader in industrial artificial intelligence (AI) technology, announced an $18.4 million investment led by Matter Venture Partners, with participation from previous investors Sozo Ventures and Founders Fund, as well as existing customers and new strategic investors Lineage and Armada Supply Chain Solutions, LLC. Kargo also announced the successful rollout of its computer vision solution at 240 Armada dock doors to automate inventory management across the food supply chain provider’s national network of warehouse hubs.

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“Comprehensive, proprietary data is the key to unlocking the full potential of AI. Kargo has become the trusted provider of inventory data to leading global supply chains. AI plays a critical role in supply chain integrity and we’re helping customers across industries build their AI stack to connect their warehouses, back offices and customers,” said Sam Lurye, founder and CEO of Kargo. “This capital investment enables Kargo to develop new products that connect supply chain data and rapidly expand our customer base.”

Kargo provides Kargo Towers and Kargo Lifts, integrated hardware and software solutions that automate freight data capture and verification. Kargo Towers are installed at warehouse loading docks or gateways, and use AI-powered cameras to gather information on freight labels, cases and product condition. Kargo’s LLM structures the image data into coherent inventory information to flag exceptions (i.e. overages, shortages, damage or compliance concerns) in real-time. The Kargo Lift is purpose-built for forklifts and automated guided vehicles (AGVs) and extends Kargo’s AI capabilities to a new vantage point.

By providing visual proof of the contents and condition of every pallet, Kargo supplies customers with accurate and timely inventory data. This deep technical moat has resulted in:

"Kargo played a critical role in our ability to successfully implement AI in a meaningful way. We were live in under a month, significantly enhancing our inventory management. Our clients – predominantly large, multi-unit restaurant companies – benefited almost immediately from increased accuracy and traceability.” said Rick Rover, President of Armada’s warehouse division. “Our commitment to reliability, agility, and resilience ensures exceptional service that consistently benefits our clients.”

“Kargo is redefining how supply chains operate by making freight data visible, reliable, and actionable at scale,” said Haomiao Huang, Founding Partner at Matter Venture Partners. “Their rapid customer adoption, real-world impact, and deep technical moat make them a category-defining company in logistics AI. We’re proud to back Kargo as they build the modern infrastructure layer for the physical economy.

About Kargo
Kargo’s mission is to create a universal interpreter for supply chains by using computer vision to connect the physical world of freight to the digital systems used to manage it. Kargo believes that applications of artificial intelligence like this are critical to a more efficient future for logistics. The Kargo system verifies all inbound and outbound freight in real-time, aggregating data, ensuring accuracy, and providing visibility that enables efficient warehouse operations and supply chain management. Kargo was founded in 2019 and is headquartered in San Francisco. To learn more, visit: https://kargo.ai/

About Matter Venture Partners
Matter Venture Partners is a venture capital firm dedicated to accelerating HardTech innovation—reshaping industries like semiconductors, robotics, AI infrastructure, and electrification. As experienced founders and investors, Matter combines capital with deep technical and operational expertise to help startups scale. The firm partners with strategic LPs and leverages a global supply chain network to support founders from early product-market fit through industrial-scale growth. Matter raised a $311 million inaugural fund in 2023 and is headquartered in Palo Alto, California. To learn more, visit: www.mattervp.com

About Armada
Armada Supply Chain Solutions creates innovative, data-driven, fully integrated supply chain solutions that improve business performance for our clients, enabling them to serve their customers best. We deliver supply chain solutions with extraordinary service, powered by technology, driven by analytics, operating at scale. We are revolutionizing the way supply chains are managed by creating resilient and agile networks to manage the challenges of today’s market. Armada believes there’s a better way – a better way rooted in transparency, advocacy, and ingenuity. To learn more, visit: www.armada.net

Kargo towers at loading dock doors.

PLANO, Texas (AP) — Voters in Texas will see little of the Republican candidates for U.S. Senate on Monday. But that's only if they stay away from screens.

There were no public campaign events scheduled for Sen. John Cornyn nor state Attorney General Ken Paxton on the final day of their more than yearlong quest for the GOP nomination. Instead, their fight for Tuesday's runoff continues as it has for months — intense and unabated — through advertising that has topped $109 million, heavily from Cornyn's side.

Cornyn is scheduled to host an annual, non-campaign event in San Antonio to recognize high school graduates attending the nation's service academies. The senator seeking a fifth term held his last public campaign event in Corpus Christi on Friday, ahead of Tuesday’s voting.

Paxton headlined his last events Thursday in the Austin area and in San Antonio, content to let his campaign and a super PAC carry his primary message: that President Donald Trump endorsed him on May 19.

Trump's announcement and accompanying dismissal of Cornyn, who has had an awkward public relationship with the president, came on the second day of early voting, which ended Friday.

Though the candidates were quiet over the weekend, Trump reaffirmed his support for Paxton on Sunday, and disparaged Cornyn as insufficiently loyal to him.

Paxton, Trump posted on social media, “was also very loyal to your favorite President, ME,” while calling Cornyn “VERY disloyal to me.” It was Trump's strongest rebuke of Cornyn, who had dismissed his 2024 comeback chances, and echoed the president's reproach of Louisiana Sen. Bill Cassidy before he lost in the May 15 GOP Senate primary.

Following Trump's call for retribution, Republican voters in Indiana and Kentucky have also chosen GOP primary challengers over incumbent GOP officeholders who have crossed the president or opposed his agenda.

For a contest that is expected to draw a fraction of Texas’ 18.7 million voters, the two candidates’ campaigns and supporting groups were continuing to bombard all Texans with advertising, though more by Cornyn's backers than Paxton's.

"It’s just a slug fest, with the campaigns and third-party groups slugging it out,” said Wayne Hamilton, a former executive director of the Texas Republican Party.

The combination of Cornyn's campaign and supporting super PACs have far outspent pro-Paxton groups over the past year, by almost nine-to-one. But the gap has shrunk as the runoff has approached. In the final week of the campaign, the combination of pro-Cornyn ad spending was less than twice Paxton's group.

Cornyn's network continued to air spots attacking Paxton over ethical and personal questions that have shadowed him with little effect throughout the campaign. Cornyn’s campaign also had reprised an ad noting his tendency to vote in the Senate for Trump’s priorities.

Paxton's campaign and groups supporting him transitioned midweek to all ads noting Trump's endorsement, though Paxton's primary super PAC, Lone Star Liberty Fund, began airing one over the weekend aimed at raising questions about state Rep. James Talarico, the Texas Democratic Senate nominee.

Texas Attorney General Ken Paxton, a Republican candidate for the U.S. Senate, speaks to supporters at a campaign event in McKinney, Texas, Tuesday, May 19, 2026. (AP Photo/LM Otero)

Darlee Foster, left, and Debbie King talk before the Sen. John Cornyn, R-Texas, campaign event in Lubbock, Texas, Tuesday, May 19, 2026. (AP Photo/Annie Rice)

Sen. John Cornyn, R-Texas, listens to State Sen. Charles Perry, R-Lubbock, during a campaign event in Lubbock, Texas, Tuesday, May 19, 2026. (AP Photo/Annie Rice)

Texas Attorney General Ken Paxton, a Republican candidate for the U.S. Senate, smiles at a campaign event in McKinney, Texas, Tuesday, May 19, 2026. (AP Photo/LM Otero)