Lithuanian logtech GoRamp raises €3M to expand in Europe and the US

The Vilnius-based logistics startup GoRamp has raised a €3 million in a late seed round to accelerate growth in European markets and strengthen its position in the US. The round was led by Hungarian Lead Ventures.

• Established in 2017 by Jevgenij Polonis, Marius Repecka, and Ugnė Palionytė, GoRamp develops a SaaS solution, which enables manufacturing, retail and production companies to digitize their logistics operations through sourcing, planning and monitoring transportation shipments. According to GoRamp, its system eliminates 70% of operational work, increases 20% of warehouse loading efficiency and decreases up to 25% logistics costs.
• In 2021 GoRamp business volumes tripled. Currently, the company operates in 18 countries. The number of GoRamp customers grew by 2.5x and the company is already trusted by Pfizer, Thermofisher Scientific, Continental, Mondelez, Storenso, and others.
• In April 2022, the startup received €1.5 million seed investment from several international venture capital funds and business angels. 
• The fresh round saw participation from new investors LEAD VENTURES, one of the most active Hungarian funds, according to AIN.Capital. Existing investors such as Vilnius-based investment firm Willgrow, Estonian Startup Wise Guys, and Prague-based Presto Ventures.

• GoRamp will use the new round to accelerate growth in major European markets and strengthen its presence in the US.