Lithuanian startup GoRamp has attracted an investment of €120K from venture capital funds Startup Wise Guys, Presto Ventures and business angel Gintautas Lukauskis.
GoRamp, founded in 2017, offers a real-time logistics platform that connects supply chain members. Its main target are manufacturing and retailing companies that need to cover end-to-end logistics processes, and centralize information and documentation exchange within the complete supply chain. The startup calculates the added value of its product by three key indicators 70-4-20: up to 70 percent automated human manual tasks, up to 4 times faster information exchange across the logistics chain and up to 20 reduced logistics costs.
The transport management sector is one of the largest industries in the world, but technologically very poorly advanced. Most of the manufacturing and trading companies still have the belief that centralized and traceable logistics management is a costly luxury that requires custom IT solutions. GoRamp smashes this industry myth by providing a centralized transport management system deployment in just a few days without any upfront investment.
The new investment in GoRamp will be used to strengthen its position in the Baltic market as well as its expansion in the Polish market. So far the first customers were approached only through the co-founders, but these new funds will be used to expand the team and invest in marketing.
“The challenge for us was not the competition with existing products, but the education of the market. Most companies still have a hard time believing that big savings solutions do not necessarily have to be time and money intensive. However, we are more than ready to change it!”, says Jevgenij Polonis, co-founder of GoRamp.