Vilnius logistics start-up GoRamp secures 450,000 euros to expand to Poland and Western Europe.
Following on from a successful financing round of 120,000 euros in January, Lithuanian logistics start-up GoRamp has secured an additional 450,000 euros from StartupWiseGuys and Presto Ventures.
This new injection of capital will be used by the company to further its expansion into Poland and Western European markets.
Founded in 2016, GoRamp helps manufacturers avoid repetitive and non-productive tasks in the logistics space – such as communicating with transport companies via phone or email to agree prices, getting feedback on arrival times, and creating reports.
Instead, companies that using GoRamp’s platform have access to real-time data which allows them to optimise warehouse workflows and speed up both internal and external communication regarding transport shipments. Additionally, the platform lets C-level managers track key performance indicators and make data-based decisions for process improvement.
The company says its transportation management system (TMS) can save up to 70 per cent of time spent on tendering and order management. TMS lets users distribute their freight requests to multiple carriers at once and get and compare price quotes easily in one place.
Since its launch, GoRamp has been at the forefront of educating the industry about the benefits of real-time solutions for logistics, especially in the Baltics. Many manufacturing companies are still reluctant to manage their logistics this way as they find the solutions expensive or think they should be developed in-house. And one of the biggest challenges for manufacturing companies is finding a way for third-party partners such as carriers, suppliers, and customers to be able to enter feedback about arrival times and other info directly into the enterprise resource planning systems.
Like so many other industries, manufacturing was hit by the currently ongoing Covid-19 pandemic. GoRamp has helped companies in this space navigate the shifting priorities and challenges of logistics management during the pandemic.
Jevgenij Polonis, the CEO and founder of GoRamp, believes that pandemic will speed up the digitisation of the manufacturing and logistics industries.
“The Covid-19 situation has led manufacturing companies to realise that the digitisation of information and its accessibility from home, more efficient use of human resources to reduce logistics budgets and clearer data-based analysis of KPIs across the chain are variables that are important not only to cope with current challenges, but it could be a also long-term competitive advantage factors in the market,” he says.
With its cloud-based real-time tracking, GoRamp is poised to take advantage of this shift in the industry.
“The need for transportation management systems is likely to increase and the GoRamp team is happy to contribute to the digitalisation of the industry,” Mr Polonis adds.
With a new investment round successfully closed, the company’s team will continue to grow its portfolio of customers in Poland and in Western Europe where manufacturing is more technologically advanced.
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