Movago, a Berlin, Germany-based professional moving services operator, raised €7m in Series A funding.
The round was led by DN Capital with participation from Holtzbrinck Ventures, Piton Capital, Philipp Magin, Ronny Lange, Christian Bertermann, Hakan Koc and Christopher Muhr. In conjunction with the funding, Nenad Marovac from DN Capital joined Movago’s board of directors.
The company intends to use the funds to continue to invest in its technology and expand domestic and international operations.
Founded in August 2015 by Carsten Bild and Maximilian Lanig, Movago leverages a self-learning routing algorithm to operate a professional moving service for both private and corporate customers. The company, which moves jobs itself as well as utilizes certified professional partner companies in peak times, employs more than 100 people. It operates across Germany, Austria, France, the UK and Italy.