Logistics startup Zencargo raises $20M to take on the antiquated business of freight forwarding

Ingrid Lunden
Logistics startup Zencargo raises $20M to take on the antiquated business of freight forwarding

There is another player looking to make waves in the huge and messy business of freight logistics. Zencargo -- a London startup that has built a platform that uses machine learning and other new technology to rethink how large shipping companies and their customers manage and move cargo, or freight forwarding as it's known in the industry -- has closed a Series A round of funding of about $19 million. Zencargo's cofounder and head of growth Richard Fattal said in an interview that the new funds will be used to continue building its software, specifically to develop more tools for the manufacturers and others who use its platform to predict and manage how cargo is moved around the world.