Pallet picks up $27 million in Series B funding for AI tech that makes supply chain operators more efficient

Pallet has announced a $27 million Series B round led by General Catalyst, with continued support from Bain Capital Ventures, Activant Capital, and Bessemer Venture Partners, bringing total funding raised to $50 million.

The company has developed CoPallet, an AI workforce for logistics.

“This wasn’t a story about hype, it was a story about math,” says Pallet CEO and Founder Sushanth Raman. “Customers ran the numbers. A midsized carrier was able to reallocate 25 employees who were doing repetitive order entry, saving millions. With tariffs driving up costs across the board, the ROI was obvious and our biggest challenge became keeping up with demand.”

Pallet will use the funding to expand its product and engineering teams and scale its AI workforce to meet the needs of its customer base across freight brokers, third party logistics providers, freight forwarders, carriers, and shippers.

“General Catalyst believes the next wave of iconic companies will come from applied AI - purpose built systems that solve real, high friction problems in massive industries,” says Marc Bhargava, Managing Director at General Catalyst. “Pallet is doing exactly that for logistics, and we believe has the potential to be a multi-billion dollar opportunity.”

Dan Lewis (CPO at Microsoft, co-founder at Convoy), Amit Agarwal (former President at Datadog), Girish Rishi (former CEO at BlueYonder), Michael Capellas (former CEO at Compaq), Matt McKinney (CEO at Loop), and Aatish Nayak (Head of Product at Harvey) participated in the funding round.

RTIH AI in Retail Awards

RTIH, organiser of the industry leading RTIH Innovation Awards, proudly brings you the first edition of the RTIH AI in Retail Awards, which is now open for entries. 

As we witness a digital transformation revolution across all channels, AI tools are reshaping the omnichannel game, from personalising customer experiences to optimising inventory, uncovering insights into consumer behaviour, and enhancing the human element of retailers' businesses.

With 2025 set to be the year when AI and especially gen AI shake off the ‘heavily hyped’ tag and become embedded in retail business processes, our newly launched awards celebrate global technology innovation in a fast moving omnichannel world and the resulting benefits for retailers, shoppers and employees.

Our 2025 winners will be those companies who not only recognise the potential of AI, but also make it usable in everyday work - resulting in more efficiency and innovation in all areas.

Winners will be announced at an evening event at The Barbican in Central London on Wednesday, 3rd September.

This will kick off with a drinks reception in the stunning Conservatory, followed by a three course meal, and awards ceremony in the Garden Room.

Please email our Editor, Scott Thompson, if you have any questions or need further information: scott.thompson@retailtechinnovationhub.com

Key 2025 dates

Friday, 18th July: Award entry deadline 

Tuesday, 22nd July: 2025 finalists revealed

Wednesday, 23rd July - Friday, 8th August: Judging days

Wednesday, 3rd September: Winners announced at the 2025 RTIH AI in Retail Awards Ceremony, to be held at The Barbican in Central London.