ChainGO Tech to raise €950k from Mondragon Group and Fagor Electrónica.

ChainGO Tech, a Valencia, pain-based SAAS developer for the logistics industry, announced that it closed an investment round for a total of 950,000 euros ($1.2M).

The money was raised from local strategic investors from Spain, including the Mondragón Group through a fund managed by Clave Capital, Fagor Electrónica, Carex Logistics, Los Riscos de Pedrique, the Cosimet Group and the Marin Holding Group.

In addition, ChainGO has obtained public funding through the NEOTEC program promoted by the Center for Industrial Technological Development.

The deal also includea a larger collaboration with Fagor Electrónica, aimed at developing synergies between its products, especially with Ubika (a logistics and transport management software).

ChainGo Tech, founded in 2017 by CEO Andrés Garrido, develops logistics software using the blockchain technology for building an online collaborative platform to manage and control all information and documentation related to logistics processes in the easiest, fastest and safest way on the market.