EIT Urban Mobility, an initiative of the European Institute of Innovation and Technology (EIT), a body of the European Union, aims to accelerate solutions and the transition towards a user-centric, integrated and truly multimodal transport system.
Meight, a leading provider of Intelligent Transport Platforms (ITP), announces it has secured €3.4 million in financing led by Cusp Capital, a prominent venture capital firm investing in early-stage European technology companies. This investment will fuel Meight’s expansion across Europe and accelerate the development of the market’s fastest cloud-based transport system.
Meight is on a mission to build the future of trucking with the first automated dispatcher, offering hands-off planning and monitoring of operations. Through API standards and AI-driven automation, Meight streamlines processes, optimises resource utilisation and eliminates manual, paper-based workflows. Meight serves the underdogs, the untapped 95% of carriers, predominantly family-owned businesses, helping them embrace digital transformation for greater efficiency and competitiveness. This latest round of funding will enable the company to scale its market-leading platform and introduce new features aimed at further automating and optimising the entire freight management process for small carriers and enterprise customers.
Luis Mendes, CEO and co-founder of Meight, commented: “We are thrilled to have Cusp Capital leading this round, as well as having Grupo Lusiaves, Faber and EIT Urban Mobility’s continuous backing as we continue revolutionising transport management with future-proof intelligent solutions. This investment allows us to expand our footprint in Europe and double-down on our AI-powered freight planning, which already helps trucking companies to save fuel, money and time”
The platform’s user-friendly interface brings together every stage of the freight process— from booking and dispatch to route-planning and real-time monitoring in Autopilot. Meight’s technology not only optimises routes and reduces unnecessary trips but also paves the way for paperless and automated operations across Europe.
“With road-based freight being a major contributor to overall EU emissions, the positive environmental impact Meight can have is significant and aligns perfectly with the type of companies EIT Urban Mobility aims to support,” says Matteo Consonni, Investment & Portfolio Manager at EIT Urban Mobility. “We believe this funding round presents a great opportunity for Meight to scale and increase their impact.”
“Road freight carriers are the backbone of logistics, with over 500k carriers moving 77% of inland freight in Europe alone. Meight empowers the operations of road carriers with a first of its kind system of intelligence and provides direct ROI for customers via their patented fuel savings feature,” said Dr. Maximilian Rowoldt, General Partner at Cusp Capital. “We’re very impressed with the product vision and traction of Meight and happy to partner with Luis, Antonio, and the whole Meight team on their journey to building the leading system of trucking intelligence.”
Meight’s solution is already being used by top logistics companies across Europe, and with this new funding, the company plans to accelerate growth, add new capabilities to its platform and continue its mission to build the future of trucking.
