Lithuanian marketplace Traxlo closes €1.1M in a pre-seed round

Vilnius-based startup Traxlo which created and operates a grocery retail-specific tasks marketplace has raised €600,000 and closed at €1.1 million, Arcticstartup reports. The round was co-led by Iron Wolf Capital, Antler, Black Pearls VC, Red Pill VC. Traxlo aims to use this investment to strengthen its presence in Poland.

  • Launched in 2020 Traxlo is the operator of grocery store tasks and staff marketplace The startup born under the Antler Accelerator in Sweden, has established two offices in Vilnius and Warsaw. The platform brings together local gig workers, offering a solution that enhances the efficiency of retail operations. Currently, they provide job opportunities to gig workers in over 10 cities and across 300 locations through their mobile application called “tasku”. 
  • Existing investors like Lithuanian seed stage VC fund Iron Wolf Capital, Antler, a global early-stage venture capital firm that builds and invests in the defining technology companies of tomorrow, and Red Pill VC, focusing on healthcare, cleantech, fintech, femtech industries, co-led the fresh round. New investors such as Polish Black Pearls VC and US-based angel investors also participated. 
  • With this investment, Traxlo plans to fuel its growth in the current markets and place a special focus on expanding in Poland. To date, the startup aims to double its service coverage by the end of the year, which will also entail expanding its team.