Swotzy, a Riga, Latvia-based logistics startup, raised €500,000 in a pre-seed funding round led by Black Pearls VC.
The round was joined by a previous investor, the Lithuanian-based FIRSTPICK. Jarosław Pilarczyk from Black Pearls VC and Andra Bagdonaitė from FIRSTPICK will join the company’s Supervisory Board.
The company intends to use the funds to accelerate product development, strengthen its presence in the Baltic market, and initiate work on data analysis tools.
Swotzy provides SaaS shipping software, which empowers eCommerce businesses to optimize their shipping strategies, choosing the best-fit carriers for deliveries without having to navigate complex contracts, integrations, and relationships.
The software allows businesses to save on shipping costs and benefit from valuable insights about delivery performance, and the best carrier setups.
Company: Swotzy
Raised: €500K
Round: Pre-Seed Round
Funding Month: August 2023
Lead Investors: Black Pearls VC
Additional Investors: FIRSTPICK
Company Website: https://www.swotzy.com/
Software Category: Shipping Software
About the Company: Founded in August 2022 by Lauris Rutkis, Kristians Jenciuss, and Jekabs Hincenbergs, Swotzy provides a simplified shipping tool to help eCommerce merchants to optimize their last mile operations by always using the best-fit carrier and save operational costs.
Source: https://www.finsmes.com/2023/08/swotzy-raises-e500k-in-pre-seed-funding.html