Lithuanian-founded logitech Cargo Stream receives a €1M in funding

Vilnius-headquartered Cargo Stream, that provides a logistics management platform, has received €1 million from private equity firm LitCapital. The startup will spend it on the further expansion.

• Founded by Sarunas Belickas, in 2019, Cargo Stream develops a cloud-based platform that enables all supply chain participants to manage the logistics processes in a single online workspace. The platform automates logistics communication through notifications, alerts, and orderly messages, replacing the need to sift through emails, calls, and spreadsheets. Cargo Stream claims using this platform, shippers, forwarders, and carriers can seamlessly establish connections.
• The startup has offices in Vilnius, Warsaw, Hamburg, Birmingham, Dunkerque, and Rotterdam. Cargo Stream’s solution is also used as a learning tool for transport management students in 4 Lithuanian and French higher education institutions, enabling to practice immediately after their studies by working with a versatile system.
• The fresh round was led by LitCapital, a Vilnius-based independent growth capital fund dedicated to investing in high-growth companies in the Baltic region. In 2022, LitCapital joined €7 million round for Elinta Charge.

“Based on the current financial projections, our revenue is expected to exceed €2 million. However, our objective for this year is to achieve €3 million in revenue. This investment will allow us to accelerate our plans for expansion in Poland and enhance our operations in the UK, where we already have a presence.”

Cargo Stream’s team commented the investment and its future plans.