Caspian, a San Francisco-based AI-driven customs compliance startup, announced its public launch from stealth on July 29, 2025, alongside a $5.4 million seed funding round led by Primary Venture Partners, with significant investment from Blank Ventures. The company, a licensed U.S. customs broker and CBP-approved tech provider, unveiled its flagship duty drawback product, designed to automate the complex process of reclaiming import duties for exporters, addressing a market where over 90% of eligible businesses leave billions in refunds unclaimed due to cumbersome, paper-based processes.
Caspian raises $5.4M in seed funding led by Primary Venture Partners and Blank Ventures.
Launches AI-powered trade advisory platform specializing in duty drawback automation.
Holds a U.S. customs broker license and CBP approval for direct claim filing.
Automates analysis of shipping and inventory data, submitting claims in days, not months.
Targets e-commerce, manufacturing, and retail clients to boost profitability.
Addresses $7.3 trillion U.S. trade market, with $4.1 trillion in imports in 2024.
Caspian’s platform leverages AI to ingest and analyze international shipping and inventory data, identifying eligible duty refunds and submitting claims rapidly, replacing outdated email chains and spreadsheets. “We built Caspian to ensure all businesses can thrive in the current trade environment, and that begins with not leaving money on the table,” said Justin Sherlock, founder and CEO of Caspian. The platform’s automation reduces the time and cost of duty drawback claims, a cornerstone of U.S. economic policy to support exporters and re-shoring, making it accessible to businesses of all sizes.
As a rare CBP-approved tech company with a U.S. customs broker license, Caspian can file claims directly with U.S. Customs or partner with enterprises, customs brokers, and freight forwarders to enhance trade advisory services. This capability ensures compliance while streamlining processes, offering a competitive edge over traditional consultants. The platform integrates with Shopify, major CRM, and ERP tools, providing secure, encrypted data handling and audit protection.
In 2024, U.S. imports reached $4.1 trillion, yet billions in duty refunds go unclaimed annually due to complex, manual processes. Caspian’s AI-driven platform automates tariff classification, claim identification, and submission, cutting costs and boosting margins for e-commerce, manufacturing, and retail clients. “Caspian’s approach to automate complex regulatory work with a focus on tackling the opaque world of tariffs is exactly aligned with our thesis that AI will reshape niche pockets of financial services,” said Emily Man, Partner at Primary Venture Partners.
Founded in 2024 by Justin Sherlock and Matt Ebeweber, former Flexport executives, Caspian leverages decades of logistics and trade expertise. “Retailers traditionally rely on slow, expensive consultants,” said Hannah Chelkowski, Co-Founder and General Partner at Blank Ventures. “Justin and Matt have the expertise from scaling Flexport; they speak the language of logistics and are executing at the pace of dynasty builders.” Early adopter UltiMaker praised Caspian for centralizing duty spend tracking and improving margins.
Caspian aims to redefine tariff management as a software vertical, offering financial visibility and business growth opportunities beyond compliance. With integrations to complementary businesses for unused tariff credits and ongoing monitoring, Caspian ensures long-term savings. The $5.4 million funding will support expanded operations and development, positioning Caspian as the leading AI trade advisory platform in a $7.3 trillion U.S. trade market.
Caspian is the first ever AI-native trade advisory platform for international supply chains, specializing in duty drawback and tariff refund processing. Founded in 2024 by Justin Sherlock and Matt Ebeweber, Caspian’s mission is to streamline cumbersome trade processes and put money back in businesses’ pockets. Caspian is a U.S.-licensed customs broker and ABI software vendor. Headquartered in San Francisco, Caspian is backed by investors including Primary Venture Partners and Blank Ventures, and works with companies across e-commerce, manufacturing, and retail to reclaim costly import duties.
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