Altana buys AI startup Cervo in first acquisition, deal could top $100M
What's the deal? Trade technology provider Altana said it is acquiring Cervo AIDealroom has a profile for this one. Try Dealroom →, a New York-based platform that automates the writing of customs entries. The transaction, Altana's first acquisition, combines cash and equity and could be worth more than $100 million if performance milestones are met.
What do they do? Altana, founded in 2019, uses AI to map supply chains and connect importers, suppliers, logistics providers, and customs agencies on a single trade network. Cervo, founded in 2024, uses agentic AI to draft customs entries by pulling data from shipping documents — a task that was previously manual and time-consuming.
What's the endgame? Chief executive and co-founder Evan SmithDealroom has a profile for this one. Try Dealroom → said the deal will create an end-to-end platform handling customs brokerage from item classification through clearance. He added he is scouting more acquisitions to expand Altana's trade enforcement, facilitation, and compliance tools.
Why now? US retailers and manufacturers are navigating a sharply more complex trade environment. The Trump administration has raised tariffs since early 2024 and ended the de minimis provision, which had allowed duty-free entry of goods valued at or below $800, pushing more imports into documentation and processing.
The volume shows it. US Customs has handled more than 63 million entry summaries so far this fiscal year — 27% above all of last year and 65% higher than fiscal 2024.
By the numbers: Altana most recently raised $200 million in a 2024 Series C that valued it at $1 billion. Cervo raised $5 million in seed funding in 2024 and brings 11 employees to Altana's roughly 300-person workforce. Its customers include A.P. Moller-MaerskDealroom has a profile for this one. Try Dealroom →, US Customs and Border Protection, Boston ScientificDealroom has a profile for this one. Try Dealroom →, and L.L.BeanDealroom has a profile for this one. Try Dealroom →.
The signal: Shifting trade policy is fuelling a race to automate customs work. "You have this explosion in complexity, and yet trade must move," Smith said. Logistics giants including United Parcel ServiceDealroom has a profile for this one. Try Dealroom →, FedExDealroom has a profile for this one. Try Dealroom →, DHL GroupDealroom has a profile for this one. Try Dealroom →, and Flexport have all pushed AI into their brokerage operations, as importers "are really struggling to keep up," said Cindy Allen, chief executive of consulting firm Trade Force Multiplier.
Read more: MSN
