Meight, an Évora, Portugal-based company that provides an intelligent transport platform, has secured €3.4M in funding.
Investors
The round was led by Cusp Capital, with participation from Grupo Lusiaves, Faber, and EIT Urban Mobility.
Cusp Capital is a venture capital firm specializing in European software and technology, investing in early-stage companies poised to redefine their industries through new socioeconomic and technological paradigms. Based in Essen, Germany, Cusp Capital has invested over €600 million in notable companies.
Meight Use of Funds
The company will use the funding to accelerate the growth of its cloud-based transport platform and expand further across Europe.
About Meight
Founded in 2021 by Luis Mendes and António Reis, Meight provides an intelligent transport platform designed to modernize and optimize freight operations, particularly for small and family-owned trucking carriers. The platform optimizes freight management, from route planning to real-time monitoring, helping companies save fuel and money. It leverages AI-driven automation to enhance freight operations. Its suite of tools includes automated dispatching, real-time monitoring, route planning, and a fuel-saving feature.
Funding Details
Company: Meight
Raised: €3.4M
Round: Unknown
Funding Date: December 2024
Lead Investor: Cusp Capital
Additional Investors: Grupo Lusiaves, Faber, EIT Urban Mobility
Company Website: https://www.meight.com/
Software Category: Freight Management
Source: https://www.eu-startups.com/2024/12/from-racetracks-to-truck-stops-portuguese-startup-meight-raises-funding-to-develop-transport-platform/