The aviation industry was hit hard by the pandemic with people staying at home and avoiding travel. Helping the aviation industry in such dire times is the startup cargo.one, which is a Berlin-based startup that offers real-time online air cargo booking. The company has now secured a notable €34.32M in its latest Series B funding round. It also announced some new developments, which could help in transporting COVID-19 vaccines globally.
Global expansion and COVID-19 vaccine transportation
The series B funding round of €34.32M for cargo.one was led by Bessemer Venture Partners, who were joined by existing investors index ventures, Creandum, Point Nine, and Next47. The startup currently enables its users to book air cargo online and with the latest funding, it aims to develop tools, which are said to utilise data and enable airlines to offer more dynamic pricing, engage in better route planning, and predict demand in volatile markets. Additionally, the company will add more products for booking through 2021.