Conlio raises €6.4M led by Piton Capital to automate freight document checks with AI

Berlin-based Conlio has raised €6.4M in a round led by Piton Capital, the London venture firm. WaVe-X, the venture arm of Austria's Walter Group, F-LOG Ventures, the venture vehicle of logistics group Fiege, and Haufe Group Ventures joined. Existing investors System.One, Puzzle Ventures, Booom Ventures, Yellow, 2100 Ventures and Anamcara Capital took part again. Valuation was not disclosed.

Conlio uses AI to read, classify and verify road freight documents such as consignment notes, proofs of delivery and invoices against the transport order, so forwarders can release carrier payments and issue invoices faster. The company says more than 90% of document checks can be automated.

Founder and CEO Claudio Consul was previously SVP of Product at digital freight forwarder sennder. Conlio works with mid-sized and large forwarders in Germany, the UK, Spain and Denmark, has 10 employees and will spend the money on technology, sales and European expansion. Thomas Muscher, managing director of WaVe-X, said AI is moving from pilots into the core processes of freight forwarding, with the finance back office among the first areas to feel it.