The German start-up Cargo.one recently raised $ 18.6 million in venture capital for its digital booking platform for air freight.
The Berlin-based start-up Cargo.one has developed a global operating system for air freight. The intuitive digital platform simplifies the booking process for freight shipments. It is directly connected to the airlines’ systems so that real-time access to available capacities and prices as well as additional quality parameters such as “temperature control” is possible.
The new era of air cargo is being driven by universal access to real-time data, and the industry must have access to tools that enable actors to both respond and anticipate market dynamics. From day one, cargo.one has offered carriers an excellent user experience and access to real-time data. We are now planning to accelerate the launch of key product additions that increase connectivity between carriers and airlines and enable them to work more effectively together, said Oliver T. Neumann, co-founder and CEO of cargo.one.
In addition to partner airlines such as Lufthansa, All Nippon Airways, Finnair, Etihad, AirBridgeCargo and TAP Air Portugal, cargo.one serves more than 1,500 forwarding agencies, including 21 of the 25 largest companies worldwide.
Bring air freight bookings into the 21st century
In an investment round, the young company has recently raised $ 18.6 million in venture capital. Series A Round was led by global venture capital firm Index Ventures. Next47, Creandum, Lufthansa Cargo, Point Nine Capital and angel investors such as Tom Stafford from DST Global and Carlos Gonzalez-Cadenas, currently Chief Operating Officer of GoCardless and former Chief Product Officer of Skyscanner, were also involved. Martin Mignot and Max Rimpel from Index Ventures led the investment round.
Since the number of passengers dropped sharply as a result of the corona pandemic, more and more companies have relied on air freight. Currently, only about 20 percent of the large-capacity passenger capacity is still flying, and passenger aircraft are increasingly being converted into cargo aircraft. Since traditional ways of selling and booking air freight by email or phone are very cumbersome, the company responds with digital tools.
The aviation sector relies on operational excellence, but its backend infrastructure is stuck in the dark ages, and the cargo.one platform not only helps bring air freight bookings into the 21st century but also lays the foundation for a complete overhaul of how it assists the air cargo industry by using data to help both airlines and shipping companies make their cargo operations more efficient, emphasizes Max Rimpel, principal at Index Ventures.