Worth its might: Portugal-based startup drives in €1.3 million to gear up for expansion across Europe
Summary
Portuguese startup Meight has raised a €1.3 million Seed round for its patented technology to enable truck drivers and for efficient fleet management. Founded in 2018 by Luís Mendes (CEO) and António Reis (CTO), the Evora-based startup has created a patent for technology to understand where energy consumption of road transport comes from, predict, and reduce it. The funding raised will enable the platform to accelerate its expansion strategy, focusing on Germany, as well as its recruitment process, especially from software engineers, to continue the development of the data infrastructure. Hence, we need to find alternatives to boost one of the most fascinating contributors to world trade.” The new technology facilitates the collection of data on driving on all routes worldwide. The Turkish startup Yolda has also become active in the trucking race with its expansion in Germany on the back of its bridge funding last year in December.
