OGOship raises €4M to continue growth
OGOship raises €4M to Build a Sustainable E-commerce Platform – Cross continental customers have already been onboarded.
OGOship, a scalable 3PL service provider helping e-commerce businesses to streamline their supply chain, today announces that it has raised a €4M pre-series A round led by Flashpoint Venture Capital and Innovestor Ventures with an earlier backer Maki.vc joining the round.
OGOship started their growth path in 2017, building a sustainable e-commerce supply chain solution. The topic of sustainability has never been bigger, and today OGOship offers a multi-network of logistic hubs across Europe, accessible via their digital platform that is easy to integrate with the most common e-commerce platforms on the market. The multi-network solution and last mile delivery network enables OGOship’s clients to reduce CO2 emissions by up to 96%.
A 3PL partner makes it simple for companies to outsource some or all of their logistics and warehousing. OGOship’s speciality is e-commerce as it enables clients to outsource their supply chain and at the same time grants quick access to OGOship’s multi-warehouse solutions built for ecommerce to manage their order fulfillment and logistics needs. Unlike a standard 3PL solution, OGOship offers a sustainable opportunity to access and scale to new international markets without investing in own warehouse space, preparing for an unexpected need for workforce, or negotiating transportation deals.
”We believe every company deserves to be global without wasting the company’s – or the planet’s – resources. And this is exactly what we enable our clients to do. The funds will be used to fuel our international expansion by adding 4-5 countries per year to the existing global warehouse network and to speed up the growth in our current Swedish, Finnish, German and UK markets that have high potential,” says Timo Toivonen, Co-Founder and CEO of OGOship.
The company enables clients’ shipment costs to go down by over 40%, speed of delivery increased by over 70% and CO2 emissions reduced by 96%. OGOship is a strong advocate for industry change and policies that make e-commerce more sustainable: no plastic packaging, no diversions, always choosing the shortest route, fast shipments, and no flights.
The current client base includes customers from Europe and USA, consisting of small and medium sized direct to consumer brands or e-commerce shops. OGOship is proud to partner with DPD, DHL, Budbee and many other courier services. The multi-national team includes 50 people working in 5 countries.
“We welcome OGOship to the Flashpoint family. We strongly believe in 3PL as the future of logistics. We are especially happy with their sustainable approach. Shorter shipping distances play an important role in the pursuit of sustainable e-commerce. Sustainable delivery is a rising trend in e-commerce — and it’s a factor consumers value and even seek out”, added Alexander Konoplyasty, Managing Partner at Flashpoint Venture Capital.
“The total 3PL market size in Europe and USA is estimated to reach $465 billion by 2022. In Europe, the total estimated market is 500,000 e-commerce retailers, and in 2020 the E-commerce industry growth was 40% year-over-year. OGOship’s team has made tremendous progress during the past two years. The company has successfully entered the UK and German markets while still continuing fast growth in the Nordics. The company has now everything in place to accelerate growth further by complementing its pan-European fulfillment network”, says Paavo Räisänen, Partner at Maki.vc.
For more information contact:
Linus Johansson
linus@ogoship.com at OGOship
Masha Eliseeva
maria.e@flashpointvc.com at Flashpoint
About OGOship
OGOship is an tech-oriented logistics company that offers a hassle-free logistic solution for e-commerce businesses. With 10 years of e-commerce logistics background, OGOship has developed an innovative platform that offers a fast-to-market solution that enables SMEs to scale to new markets in a sustainable and an easily accessible way. OGOship has today over 50 employees across 5 countries and offers 7 logistical hubs across Europe.
OGOship believes that every company deserves to go global without wasting the company’s – or the planet’s – resources.
For more information visit www.ogoship.com
About Flashpoint
Flashpoint investments in Finland include such companies as Dispelix, Bonusway and OGOship.
Flashpoint is an international investment group with US$400m AuM. Flashpoint manages six venture funds: four VC funds, a Venture Debt Fund, a Secondary Fund. Investors in Flashpoint’s funds include more than 100 major family offices and HNWIs. The company has offices in London, Tel-Aviv, Budapest, Warsaw, Riga, Nicosia and Moscow. The funds have made investments in 38 companies including names such as Guesty, Chili Piper, IVI and Dostavista. Flashpoint has completed nine exits, including the sale of its stakes in Shazam (to Apple), Chess.com (to Mark Scheinberg, founder of PokerStars), Ponominalu (to MTS), Netology (to Severgroup), GetIntent (to Gazprom Media).
For more information visit flashpointvc.com
About Innovestor
Innovestor is a Helsinki-based early-stage venture capital investor also offering direct co-investment syndication opportunities and corporate venturing services. The firm currently manages three VC funds, representing one of the largest private venture-backed portfolios in the Nordics and consisting of almost 100 growth companies in multiple fields of technology such as consumer, enterprise software, industrial tech, and health & life science.
For more information visit www.innovestorgroup.com
About Maki.vc
Helsinki-based Maki.vc invests in deep-tech and brand-driven companies across the consumer and enterprise landscape, with a sweet spot for scientific advances, strong IP and deep customer understanding.
For more information visit maki.vc
