Innovestor Invests in OGOship – a sustainable e-commerce platform

OGOship, a scalable 3PL service provider helping e-commerce businesses to streamline their supply chain, has raised a €4M pre-series A round. The round was led by Flashpoint Venture Capital and Innovestor Ventures with an earlier backer 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 specialty 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 e-commerce 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.

We believe strongly in the continued growth of e-commerce. In this space, Ogoship enables businesses to sell and consumers to buy goods easily, cost-effectively and in a time-efficient manner across national boundaries.  As the solution is highly scaleable, with good execution, the business could become truly global. The team has enthusiasm, ambition, and drive. We are also glad to see a strong roster of board members and co-investors in the company”, adds Myron Seto, partner at Innovestor Ventures.

The current client base includes customers from Europe and the 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.

About OGOship

OGOship is a 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 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.

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.