Cargo Stream, a Vilnius, Lithuania-based management platform for the whole logistics chain of land transportation, raised €1 million in a funding round led by LitCapital.
The fresh investment will fuel Cargo Stream’s ambitious expansion plans, enabling the company to further penetrate the Polish market while strengthening its operations in the United Kingdom.
“We are excited to partner with LitCapital and grateful for their trust in our big vision. Based on the current financial projections, our revenue will exceed 2 million euros. Objectively, it could be more, hence our aim is to reach 3 million Euros in 2023,” said Sarunas Belickas, COO of Cargo Stream. “This investment will allow us to accelerate our plans for expansion in Poland. Additionally, it will provide us with the necessary resources to enhance our operations in the UK, where we already have a presence.”
Cargo Stream harnesses advanced technology and innovative solutions. It offers a seamless and automated platform that streamlines the logistics process. .
Earlier this year, Cargo Stream introduced its innovative cloud-based platform, which empowers freight forwarders and shippers to efficiently oversee logistics through a unified digital interface.
The platform automates logistics communication through notifications, alerts, and orderly messages, replacing the need to sift through emails, calls, and spreadsheets. Freight forwarders can conveniently manage logistics within the platform, while shippers can coordinate their logistics from the same location.
Company: Cargo Stream
Raised: €1.0M
Round: Unknown
Funding Month: August 2023
Lead Investors: LitCapital
Additional Investors:
Company Website: https://cargostream.co/
Software Category: Management Platform
About the Company: Founded by Sarunas Belickas in 2019 in Birmingham, Cargo Stream is a developer of a management platform that is designed for the logistics chain of land transportation. It offers eCMR, order and timeslot management, self-service portals, a driver mobile app, and other products for senders, carriers, and forwarders. The company believes that Logistics can only become sustainable and future-proof when the most fundamental day-to-day logistics processes are optimized. Cargo Stream has offices in Vilnius, Warsaw, Hamburg, Birmingham, Dunkerque, and Rotterdam.
Source: https://techfundingnews.com/uk-based-cargo-stream-raises-e1m-for-its-cloud-based-logistics-management-platform/