With an interval of a couple of days, some more good news has come from the Latvian startup ecosystem. The portal “Labs of Latvia” writes that the Latvian logistics technology startup “Swotzy” managed to attract investments of half a million euros. For a company that is still at the beginning of its journey, this funding is a great achievement and at the same time a responsibility and will help to develop, establish itself in the Baltic market, as well as start work on data analysis tools.
“Swotzy” is a newcomer to the Latvian startup ecosystem. The company was founded at the end of summer last year, but officially started its operations in June. Therefore, the funding raised is a big step towards growth. According to “Labs of Latvia” – “Swotzy” enables e-commerce companies to purchase delivery labels from various suppliers in one place, thus allowing considerable time and cost savings and facilitating delivery management. The company does not lack ambition, and it wants to change the current standards of the courier delivery market, giving customers the opportunity to receive the most suitable and advantageous courier delivery services for their needs.
Since its launch in June, “Swotzy” already has 25 companies as its customers, who have also provided valuable suggestions for improving the platform and customer experience. On the other hand, the “Swotzy” team has grown from six to ten employees during these few months. Among them are former employees of “Printful”, “Nordigen” and “Longenesis” who decided to put their knowledge to work and create a new service with added value.
“Swotzy” received the recently raised financing in the amount of 500 thousand euros from several investors, including the Lithuanian venture capital fund “Firstpick VC”. It is important to mention here that this is not the first funding raised by “Swotzy”. In March, the company also received 90,000 euros from “Firstpick VC”, which is therefore a great support for the growth of the startup.
2023-08-15 12:32:13
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