Cardinal collects ten million euros

The start-up successfully completed its Series A financing round. It is at home in the logistics sector and is now also coming to Germany.

The French start-up Kardinal was able to raise a total of ten million euros in its financing round and intends to use the capital to expand into Germany, among other countries. The logistics company was able to attract venture capital fund BGV as an investor, as well as Cap Horn Invest, Plug and Play Ventures and Serena.

The start-up has set itself the task of optimizing the routes of logistics companies. To do this, it uses specially developed software which, according to the company, is designed to reduce costs and minimize environmental damage. The capital now raised is the basis for further expansion into Europe, according to the start-up The focus is on Germany due to the size of the market. The start-up plans to hire 25 employees for its expansion this year, which would be equivalent to doubling the size of the team.

Jonathan Bouaziz, CEO of Kardinal, says: "This financing round will enable us to shift up a gear and further expand our competitive advantage. We have proven our added value on the French market by working with big names in the logistics industry. The next step is to consolidate our go-to-market strategy in Europe."

Jonathan Bouaziz, Hugo Farizon and Cédric Hervet founded the start-up and were able to raise a first financing round of two million euros in 2019. According to its own figures, the start-up grew by 500% in the same year.