Lithuania-based SAAS developer GoRamp has raised €1.5 million in funding from venture capital funds and the community of angel investors from companies such as UPS, Shopify and Infoscout. The new cash will be used to stock up expansion plans in Western Europe and the U.S.
The company aims to enable manufacturing, retail and production companies digitise their logistics operations through sourcing, planning and monitoring transportation shipments. The startup claims its platform eliminates 70 percent of operational work, increases 20 percent of warehouse loading efficiency and decreases up to 25% logistics costs for its users.
Jevgenij Polonis, CEO, GoRamp said: “The quarantine reality has facilitated the scale of business in Western European markets. Transportation volumes of production and trade companies have grown drastically during the lockdown and the resources required to meet customer needs have shrunk. Carrier costs are rising, and warehousing capacities are being exceeded. Thus, digital solutions are irreplaceable. Our platform helps customers eliminate more than two-thirds of operational manual labor, save time, streamline supply chain operations and do up to twice as much work with the available resources.”
Currently operating in 18 different countries in Europe and the U.S., Canada, and Australia, the number of GoRamp customers grew by 2.5x last year. The company is already being used by Pfizer, Thermofisher Scientific, Continental, Mondelez, Storenso, and others.