COBALT advised ME Investicija on its investment in logistics technology startup project44
2021 - 06 - 30
COBALT advised ME Investicija on its investment in USA logistics startup project44. During the completed round of E-series investments, project44 attracted over 200 million USD. The start-up’s valuation reached USD 1.2 billion.
UAB ME Investicija is an investment company whose businesses include Girteka Logistics managing the largest own truck fleet in Europe, and commercial real estate developer SIRIN Development.
Tomas Krakauskas, Chief Investment Officer at ME Investicija, comments that in the hard times for the logistics sector he sees a huge potential for a technology company developing a digital tool that will take the logistics sector to the next level.
Project44 is the world’s leading advanced visibility platform for shippers and logistics service providers. Project44 connects, automates and provides visibility into key transportation processes to accelerate insights and shorten the time it takes to turn those insights into actions. Leveraging the power of the project44 cloud-based platform, organizations increase operational efficiencies, reduce costs, improve shipping performance, and deliver an exceptional Amazon-like experience to their customers. The company provides services in USA, as well as in Europe for private clients.
The amount of investment in project44 is not disclosed.
COBALT has advised on the structuring of the transaction, drafted transaction documentation, represented the client in negotiations and advised on other transaction-related matters. COBALT team consisted of Partner Elijus Burgis and Partner Eva Suduiko.