Lisbon-based intelligent transport platform (ITP) Meight has raised €3.4 million in funding, as Vestbee was informed, to drive the digital transformation of transport management across Europe. The investment round was led by Cusp Capital.
- Founded in 2021 by António Reis and Luis Mendes, Meight offers an Intelligent Transport Platform (ITP) that automates and streamlines trucking operations across Europe.
- The platform covers all aspects of freight management, from route planning to reporting, enhancing efficiency, sustainability, and cost-effectiveness.
- Meight helps 95% of family-owned carriers digitize their operations, improving their competitiveness in the industry. By automating workflows and reducing manual tasks, the platform supports small and medium-sized carriers in adapting to digital transformation.
Details of the deal
- The round was led by Cusp Capital, an Essen-based venture capital firm that invests in early-stage European companies poised to innovate in software and technology. With over €600 million invested in notable startups like Zalando, Delivery Hero, Klarna, Scalable Capital, data Artisans, Recyda, Personio, and SoSafe.
"We're very impressed with the product vision and traction of Meight and happy to partner with Luis, Antonio, and the whole Meight team on their journey to building the leading system of trucking intelligence," General Partner at Cusp Capital, Dr. Maximilian Rowoldt, stated in a press release.
- The fresh capital raised will help Meight expand across Europe, enhance its platform, and introduce new features to automate freight management, enabling small carriers to streamline operations and reduce costs.
"This investment allows us to expand our footprint in Europe
and double-down on our AI-powered freight planning, which already helps trucking companies to save fuel, money and time," Claims Luis Mendes, CEO and co-founder of Meight.
