Everything in our lives — from the cheese in our quesadillas to the tires on our cars — has traveled through a loading dock. In fact, every year, $10 trillion — of the world’s total $80 trillion GDP — is spent moving goods around the world.
When I dropped out of Stanford two years ago, the future of logistics was already rapidly changing. I made it my mission to see every warehouse, distribution center, and factory that would let me in. As I criss-crossed the country speaking with hundreds of truck drivers, factory workers, supply chain managers and senior industrial leaders, it became clear that the industry’s existing digital and physical infrastructure wasn’t ready for the wave of investment in autonomy. Some critical parts of the supply chain had gone totally ignored.
Take loading docks: they are the universal API of the industrial world, allowing trucks to deliver or pick up goods from factories, warehouses, distribution centers and assembly plants. Truck drivers wait to unload their cargo at docks an average of two and a half hours. This fact of life in the logistics world is more than inefficient — it’s dangerous. According to the US. Department of Transportation, today, 25% of all industrial accidents occur on docks and longer wait times lead to more accidents on the road as exhausted drivers then have to continue on to their destination.
25% of all industrial accidents occur on docks and longer wait times lead to more accidents on the road.
The lack of innovation surrounding this part of the logistics puzzle was a common complaint across the industry — whether you were behind the wheel or in a boardroom. A recent PwC survey found that 64% of manufacturers reported that smart infrastructure had become their ultimate bottleneck for full freight autonomy.
That’s why I started Kargo: to build a connective tissue between the physical world of freight and the digital ecosystem used to manage it. At Kargo, we believe that advancements in smart infrastructure are critical to enabling a safer and more efficient future for logistics. Our loading dock sensor platform verifies all incoming and outgoing freight, aggregating data that enables shippers and carriers to efficiently manage dock operations, switch out suppliers and understand material flow in real time. The pandemic has only accelerated the demand for our platform. The key to our early success has been our exceptional team. Building hardware from the ground up is no easy feat and I’ve been blown away by their dedication and focus.
Build a connective tissue between the physical world of freight and the digital ecosystem used to manage it.
I’m thrilled to announce a $6 million seed round led by Founders Fund with participation from Sozo Ventures, Accomplice, Hanover and major tech executives. We are deeply grateful for their support and leadership as we team up to bring safety and efficiency to the logistics industry.
This funding allows us to further invest in our operations and product development, as well as accelerate our expansion both nationally and internationally. We are also bringing on key talent to help drive our growth, including senior leadership roles in engineering, computer vision, product design, and product management.
We are humbled by our investors’ support and excited to have them at our side. To learn more, visit mykargo.com.