OGOship

Russian Flashpoint VC invested in Finnish logistics service for online stores

Founded by Pekka Yulenius and Timo Toivonen, OGOship is a technologically oriented logistics company. According to the company, with their decision, customers can reduce transportation costs by more than 40%, increase delivery speed by more than 70% and reduce CO2 emissions by 96%.

OGOship is a 3PL startup that provides a range of logistics services for storage, sourcing and delivery of orders. The company focuses on small and medium-sized businesses, helping them expand into new markets and optimize the supply chain.

History

2021: Attraction €4 million

On November 25, 2021, logistics startup OGOship announced the attraction of €4 million as part of a preliminary round of financing for series A. Previously, the company had already received €1.5 million from investors.

The round was led by Flashpoint Venture Capital and Innovestor Ventures, joined by an earlier sponsor Maki.vc. The financing will be used to implement international expansion plans, the company will also add 4-5 countries per year to its existing warehouse network, as well as increase operations in Germany, Sweden, Finland and the UK.

Russian Flashpoint VC invested in Finnish logistics service for online stores OGOship

By November 25, 2021, the company's customer base includes customers from Europe and the USA, consisting of small and medium-sized brands aimed directly at the consumer, as well as online stores. OGOship cooperates with DPD, DHL, Budbee and other courier services. The company employs more than 50 employees in 5 countries and offers 7 logistics centers throughout Europe.

The total 3PL market in Europe and the USA is estimated to reach $465 billion by 2022. In Europe, the total estimated market is about 500 thousand e-commerce retailers, and in 2020 the growth of the e-commerce industry amounted to 40% year on year. The OGOship team has achieved tremendous success over the past two years. The company successfully entered the markets of Great Britain and Germany, while continuing rapid growth in Northern Europe. Now they have everything they need to further accelerate growth by supplementing the pan-European fullfilm network, "commented Maki.vc investor Paavo Räisänen.

We strongly believe in 3PL as the future of logistics. We especially like their environmentally friendly approach. Shorter delivery distances play an important role in ensuring sustainable electronic commerce. Sustainable deliveries are a growing trend in e-commerce, and this is a factor that consumers value and even look for, "added Alexander Konoplasty of Flashpoint Venture Capital.[1]

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