Meight, a Évora-based startup, has raised €3.4 million in its newest funding spherical to develop additional throughout Europe and speed up the event of their cloud-based transport platform.
This funding spherical was led by Cusp Capital, with further help from Grupo Lusiaves, Faber, and EIT City Mobility.
The brand new funding marks a pivotal step in Meight’s journey to develop its Clever Transport Platform (ITP), enhancing its suite of AI-driven automation instruments and app geared toward modernising the trucking trade.
Luis Mendes, CEO and co-founder of Meight, expressed pleasure concerning the funding and the way forward for Meight: “We’re thrilled to have Cusp Capital main this spherical, in addition to having Grupo Lusiaves, Faber and EIT City Mobility’s steady backing as we proceed revolutionising transport administration with future-proof clever options. This funding permits us to develop our footprint in Europe and double-down on our AI-powered freight planning, which already helps trucking corporations to avoid wasting gas, time and cash.”
Based in 2021 by CEO Luis Mendes and CTO António Reis, Meight was born out of a ardour for motorsports, a world the place consideration to the smallest particulars could make the distinction between legacy and obscurity. Accustomed to nano-seconds and petabytes, they determined to take their obsession for high-precision information from the racetrack to the long-haul world of street transport, the place effectivity is on the coronary heart of the competitors.
Meight seeks to innovate freight operations with a platform that provides automated dispatching, hands-free operational planning, and real-time monitoring.
In keeping with Meight, their firm is designed to cater to the largely missed 95% of trucking carriers—most of that are small, family-owned companies—offering a complete, paperless answer to spice up effectivity and competitiveness.
By eliminating handbook workflows and optimising useful resource allocation, Meight allows carriers to embrace digital transformation seamlessly.
The startup’s ITP integrates each part of the freight course of—reserving, route planning, dispatch, and monitoring—into one streamlined system. Its interface gives real-time insights and autopilot performance, which helps trucking corporations optimise routes, cut back pointless journeys, and transition to totally automated, paperless operations.
The platform’s proprietary fuel-saving characteristic additionally delivers measurable value reductions for purchasers, making it a horny choice for logistics companies throughout the continent.
“Highway freight carriers are the spine of logistics, with over 500k carriers transferring 77% of inland freight in Europe alone. Meight empowers the operations of street carriers with a primary of its sort system of intelligence and offers direct ROI for purchasers by way of their patented gas financial savings characteristic,” mentioned Dr. Maximilian Rowoldt, Basic Accomplice at Cusp Capital. “We’re very impressed with the product imaginative and prescient and traction of Meight and joyful to accomplice with Luis, Antonio, and the entire Meight staff on their journey to constructing the main system of trucking intelligence.”
Meight plans to make use of the funds to develop its European presence, improve its platform’s capabilities, and additional its mission of constructing what it calls the “Way forward for Trucking.”
