OGOship: The Finnish third-party logistics company raised 4 million euros

Helping e-commerce businesses modernise their supply chain, Helsinki-based startup OGOship raised 4 million euros in Series A funding. The pre-series investment round involved the existing investors Maki.vc, led by Flashpoint Venture Capital and Innovestor Ventures. It should be noted that to date, the startup has raised a total of 6.3 million euros.

With the new funding, the company will dedicate itself to international expansion plans, including 4 to 5 countries annually in the existing storage network, while some money will be given to upgrade its operations in Germany, Sweden, Finland and the UK.

Since 2017, the company has started creating a global e-commerce supply chain solution with a focus on sustainability. The company is a strong supporter of not using plastic packaging, diversions, last-minute technologies to calculate the shortest delivery and air transport routes.

After 5 years, OGOship employs over 50 people in 5 countries and has 7 logistics hubs across Europe. Its vision is to become global without wasting the planet’s resources. According to the company, thanks to their solution customers can reduce shipping costs by more than 40%, increase delivery speed by 70% and reduce carbon dioxide emissions by 96%.

The OGOship team has made tremendous progress over the past two years. The company has successfully entered the UK and German markets, while still continuing its rapid growth in the Nordic countries.

At the same time, the fact that the total size of the 3PL market in Europe and the US is estimated to reach 465 billion dollars by 2022, with the estimated European market alone amounting to 500,000 e-commerce retailers, in combination with 2020 when the growth of the industry was at 40% year-on-year, foreshadows a positive outcome for players in the space.

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