Caspian Secures $5.4 Million Seed Financing

Deal News | Jul 31, 2025 | Goodwin

Caspian, an AI-native trade advisory platform specializing in duty drawback and tariff refund processing, has raised $5.4 million in a seed financing round led by Primary Venture Partners, with participation from Blank Ventures. The company, headquartered in San Francisco and founded in 2024 by Justin Sherlock and Matt Ebeweber, has unveiled its flagship product aimed at reclaiming unclaimed duty refunds from tariffs for exporters. Caspian holds a U.S. customs broker license and is an ABI software vendor, working primarily with clients in the e-commerce, manufacturing, and retail sectors. Legal advisory for this financing round was provided by Goodwin's Technology Companies and Global Trade teams, led by professionals including Joshua Eisenson and Melissa Wright.

Sectors

  • Technology
  • Trade and Customs Brokerage
  • Finance and Investments

Geography

  • United States – Caspian is headquartered in San Francisco and operates as a U.S.-licensed customs broker.

Industry

  • Technology – Caspian is an AI-native platform, highlighting advancements in tech-driven solutions for trade advisory.
  • Trade and Customs Brokerage – Caspian holds a U.S. customs broker license, specializing in duty drawback and tariff refund processing.
  • Finance and Investments – The article covers a seed financing round led by venture capital firms.

Financials

  • $5.4 million – Amount raised in seed financing round.

Participants

NameRoleTypeDescription
CaspianTarget CompanyCompanyAn AI-native trade advisory platform focusing on duty drawback and tariff refund processing.
Primary Venture PartnersLead InvestorCompanyLed the $5.4 million seed financing round for Caspian.
Blank VenturesInvestorCompanyParticipated in Caspian's seed financing round.
GoodwinLegal AdvisorCompanyProvided legal advisory for Caspian's seed financing.
Justin SherlockCo-FounderPersonCo-Founder of Caspian.
Matt EbeweberCo-FounderPersonCo-Founder of Caspian.