Construction materials ordering and delivery platform Viangoo raises €100K
Riga-based platform for digitizing and delivering of bulk materials transportation Viangoo has secured €100K as a follow-on investment from state-owned development finance institution Altum. In March, Viangoo also achieved its highest monthly turnover to date – almost €400K. Last month, it also saw a record amount of cargo delivered in one day – 117.
Founded in 2023 by Peteris Klavins, Viangoo's platform allows construction companies to organize their freight traffic, and retail or business customers make orders for materials and track them through the platform or an application. The startup helps organize the transportation of sand, crushed stone, dolomite, black earth, granite, building rubble, and other construction materials.
After registering on Viangoo, the buyer has to specify the type and volume of the cargo, the type of transport, the delivery address, and the due date. He should select the most suitable offers from the suppliers and confirm the order. The customer can track the order in the application. He can see the location of the cargo, loading time, exact volume, freight shipping documents, and delivery time. After each order, he will receive a cargo delivery report.
According to the company, Viangoo has 150 transport units and 2,4K users, who have registered on the platform. It has also achieved €2,2M of turnover since launching the platform.
In December 2023, Viangoo raised €57K from Altum.
The company has also recently invested more than €50K in the development of its mobile application. The startup expects that its application will simplify the process of digital reporting for legal entities in the future, for example, accounting planning or automatically created order reports.
Altum is a state-owned development finance institution, which invests in venture capital funds and offers loans and credit guarantees. Recently, Altum announced the selection of a startup capital fund manager and a growth stage fund manager, which will invest in Latvian and European Union startups. The startup capital fund manager will invest €12.4M in startups and the growth stage fund manager will finance €24.8M in growth-stage companies already operating and working for profit.
