Cargo.one, the Germany-based operator of an air freight booking platform, received $42m yesterday in a series B round that included industrial technology and appliance producer Siemens’ Next47 unit.
Venture capital firm Bessemer Venture Partners led the round, which also featured Index Ventures, Creandum and Point Nine Capital.
Founded in 2017, Cargo.one runs an online platform that allows users to find and book freight capacity on airlines, offering comparable quotes in real time.
Oliver T. Neumann, co-founder and managing director of Cargo.one, said: “We will use the funds raised to build on our success in Europe, onboard more airline partners, grow our user base of freight forwarders globally and deepen the expansion into North America and Asia.
“And, as global distribution of the vitally important covid-19 vaccine ramps up, we are expanding our product offerings to make all pharma shipments bookable across our partner airlines as the first multi-airline platform to ever do so.”
Creandum and Point Nine led a $3.2m seed round for the company in late 2018, investing alongside Lufthansa Cargo, the freight services subsidiary of air carrier Lufthansa. All three returned for an $18.6m series A in July this year alongside Next47 and Index Ventures.
