Meight secures 3.4 million euros in seed financing

Lisbon-based startup Meight plans to use EUR 3.4 million in seed capital to further develop its intelligent transport platform and drive forward digitalization for medium-sized freight forwarders.

Lisbon, December 12, 2024 - Portuguese startup Meight, provider of a cloud-based intelligent transportation management platform (ITP), has successfully closed a EUR 3.4 million seed financing round. The financing round is led by Cusp Capital, a leading venture capital fund. Other backers include Grupo Lusiaves, Faber and EIT Urban Mobility.

Meight's mission is to drive digital change in the logistics industry. The platform is primarily aimed at small and medium-sized haulage companies that have previously had little access to modern technologies.

Our goal is to give the underdogs of the logistics industry the tools to work more efficiently, competitively and sustainably. With the support of our investors, we are ready to transform transportation logistics in Europe.

Luis Mendes, CEO and co-founder of Meight

Meight's platform offers an end-to-end solution for transportation management:

• Automated dispatching: the first AI-driven dispatcher optimizes planning and monitoring of operations.
• Real-time route optimization: Reduces empty runs and lowers operating costs.
• Digitalization of work processes: From paperless documents to automated routine tasks.

With these functions, the startup enables savings in fuel, costs and time. At the same time, emissions are reduced, which serves both efficiency and sustainability.

Freight forwarders are the backbone of European freight transportation, but many still work with outdated methods. Meight offers a smart, AI-powered platform that not only reduces costs, but also drives digital transformation in the industry.

Dr. Maximilian Rowoldt, General Partner at Cusp Capital

With the new funding, Meight plans to add more features to the platform, drive European expansion and give more carriers access to innovative technologies.

Cusp Capital: Cusp Capital is a venture capital fund focused on European technology companies that we have known since 2021. The team's previous successes include investments in companies such as Zalando, Klarna and Personio. We last reported on how Cusp Capital led a Series A for Recyda in October 2024.