Azerbaijani venture capital fund INMerge Ventures has announced its investment in Georgia-based logistics technology startup CARGON. The investment is aimed at developing digital logistics solutions and strengthening interregional trade along the Middle Corridor.
CARGON is a digital freight startup operating on the Middle Corridor. The startup provides a fully digital connection between shippers and carriers, and aims to increase efficiency and transparency in the traditional and fragmented logistics market through digital freight forwarding and integrated financial solutions. CARGON is currently in the growth phase in Central Asia, the Caucasus, Turkey and Europe.
One of the main reasons for INMerge Ventures’ investment in CARGON is the rapid growth of the strategic importance of the Middle Corridor. The fund considers the growing demand for technology-based logistics solutions and CARGON’s scalable business model in regional markets to be promising against the backdrop of expanding trade volumes on this route.
It should be noted that the INMerge Venture Capital Fund was established as part of the INMerge innovation summit organized by PASHA Holding in 2024. The fund's investment strategy is focused on startups from the Caucasus and Central Asia, Central and East Asia, as well as the Middle East and North Africa regions.
The founders of the fund include PASHA Innovations, the Innovation and Digital Development Agency, the Azerbaijan Investment Company and the Trendyol Group. In addition to financial support, INMerge Ventures provides strategic mentoring, business development and access to international networks to the startups it invests in.
The CARGON startup said in a statement that the investment by INMerge Ventures is an important milestone in its growth strategy and serves the goal of building the largest digital freight platform in the Middle Corridor.
