Cargo Stream, a fast-growing logtech startup, announced the successful closure of a €1 million investment led by private equity firm LitCapital. This investment will fuel Cargo Stream’s ambitious expansion plans, enabling the company to further penetrate the Polish market while strengthening its operations in the UK.
Founded in 2019, Cargo Stream has quickly emerged as a disruptive force in the logistics management software industry (logtech), providing innovative and efficient supply chain solutions to businesses of all sizes. Leveraging cutting-edge technology and a customer-centric approach, Cargo Stream streamlines the entire logistics process, offering for freight forwarders and shippers end-to-end control tower visibility, cost optimization, and improved operational efficiency.
The investment from LitCapital represents a significant milestone for Cargo Stream and a testament to the company’s immense potential. LitCapital, with its vast experience and strong track record in supporting promising startups, is an ideal partner to help drive Cargo Stream’s growth and market expansion strategies.
“We are excited to partner with LitCapital and grateful for their trust in our big vision. Based on the current financial projections, our revenue will exceed €2 million. Objectively, it could be more, hence our aim is to reach €3 million in 2023,” said Sarunas Belickas, COO of Cargo Stream. “This investment will allow us to accelerate our plans for expansion in Poland. Additionally, it will provide us with the necessary resources to enhance our operations in the UK, where we already have a presence.”
Polish and UK freight forwarders, operating in significant markets with substantial cargo volumes, often face challenges due to extensive manual work. However, Cargo Stream is poised to lead the digital transformation of transportation companies in these regions.
By harnessing advanced technology and innovative solutions, Cargo Stream offers a seamless and automated platform that streamlines the logistics process. This digital approach reduces reliance on manual work, resulting in enhanced operational efficiency and cost optimization for freight forwarders.
Read the orginal article: https://www.eu-startups.com/2023/08/birmingham-based-logtech-cargo-stream-secures-e1-million-to-expand-operations-in-polish-market/
