GED Ventures invests in Portuguese platform that frees passengers from luggage transport

November 21st 2023

GED Ventures Portugal invests 600 thousand euros in LUGGit, a Portuguese startup that has developed a solution considered by the Tourism Organization as one of the most innovative ideas in the sector, which collects, stores and delivers luggage at the time and place desired by its users.

For Francisco Lino Marques, partner and member of the Board of Directors of GED Ventures Portugal, “LUGGit is one of the most promising Portuguese Logistics Tech startups, so this investment will accelerate technological development, positioning this solution as one of the most innovative in the tourism sector”.

Headquartered in Aveiro, LUGGit was founded in 2019, with the aim of removing luggage from the travel equation. Through an innovative and sustainable concept, LUGGit allows passengers a more pleasant experience and better time management, without worrying about luggage. After this funding round, LUGGit reaches 2.2 million euros in investment, with Caixa Capital and Portugal Ventures as investors, in addition to GED Ventures Portugal.

For Ricardo Figueiredo, CEO and one of the founders, “this round is a reflection of the work we have been doing in recent years and an important step in the growth and maturity of the company, allowing us to grow the team and place LUGGit in the main European cities”.

GED is an independent and international financial group, with a presence in Europe, the United States of America, and South America. Currently, it manages more than one billion euros in assets in the areas of Venture, Private Equity, and Infrastructure, based on the ESG-friendly ethos, present since its foundation and incorporated at all times of the life cycle of its Funds. Under the #Tech4Purpose design, GED Ventures Portugal aims to support technologies capable of transforming the world, that promote sustainability and that are capable of leaving a viable and promising legacy to future generations.

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