Meight raises €1.3M

 In News, Start-Up, Technology

The Portuguese technology startup Meight has raised €1.3 million of investment to grow its overseas export market to Germany and recruit engineers.

It has just closed a €1.3 million seed round to accelerate the business’s expansion strategy to Germany and invest in a new recruitment process for software engineers, among other professionals, to be able to continue to develop its data infrastructure.
The investment in this analytics technology was led by Portuguese venture capital company Faber and also involved the family holding Lusiaves SGPS, the German Superlyst, the European Institute of Innovation and Technology (EIT), and a number of business angels including Ryan Petersen, CEO of Flexport, the founders of Unbabel, and the Canadian Dispatch Ventures.
The company founded in 2018 by Luís Mendes and António Reis created a platform that predicts, monitors, and manages operations involving goods transports, and which also manages lorry fuel consumption and daily driver fees, for example.
“Professional motorists will not disappear, autonomous driving will not be the answer to a complicated industry, but alternatives have to be found to boost one of the more fascinating contributors in terms of world trade”, say the Portuguese entrepreneurs.
In practice, the digital tool created by Meight, which can be used on 75% of European lorry brands, aims to help drivers and is supported by a technology infrastructure capable of proactively managing the driving of heavy goods vehicles, increasing their efficiency and safety in the service of goods transportation.