Latvian startup PrintOnPack.com raises 450,000 euros
PrintOnPack.com, a sustainable packaging startup from Latvia, has raised 450,000 euros from SuperHero Capital. The company will use the money to further grow its team, develop the platform and to increase order volumes and revenue.
PrintOnPack.com’s mission is to “reform the largely manual and ambiguous packaging industry”. According to them, this industry still functions manually, relies on in-person sales and spreadsheets for pricing calculations.
The packaging industry is complex and lacks transparency.
“Research shows that pricing offers for an identical order can vary, on average, by 88 percent and in extreme cases can be more than sixfold among competitors”, the company states. On its online platform, PrintOnPack.com has onboarded more than 120 soft packaging providers. These players clearly show where they can produce and for what prices.
500 requests processed in one year
The startup was founded in Latvia by Ingars Zagorskis and Ivars Mirošnikovs in 2020. In just over a year, the company has processed over 500 requests from 10 countries and helper to order more than 3 million packages.
Making it easier to get information
“Right now, printing services are discovered through trade shows, prices are calculated in spreadsheets, and orders coordinated through phone calls”, CEO Ingars Zagorskis says. “Because of the hassle to request an offer, businesses rarely change their packaging producer, even though prices and materials may be superior elsewhere. We’re making it easier to get information, and make the best choice for your business, and for the environment.”
The almost half a million euros was secured from SuperHero Capital, an early-stage venture capital firm based in Finland. It invests in startups in Finland and the Baltic states and they are industry-agnostic, meaning they don’t specialize in a specific industry. It’s SuperHero Capital’s first investment in a company from Latvia.