US-based logistics technology provider Airspace Technologies closed a $38m series C round on Tuesday co-led by Telstra Ventures, the corporate venturing arm of telecommunications firm Telstra.
The round was co-led with HarbourVest Partners and included Prologis Ventures and Qualcomm Ventures – subsidiaries of logistics property developer Prologis and semiconductor technology producer Qualcomm – as well as Scale Venture Partners and Defy.vc.
Founded in 2015, Airspace has developed a logistics software platform that can provide customers with automatic tracking of shipments and packages. It has more than 200 corporate customers including LabCorp, Alaska Airlines, Quest Diagnostics and American Red Cross.
Telstra Ventures managing partner Mark Sherman has been appointed to Airspace’s board of directors in connection with the round, which the company said increased its overall funding to over $70m.
Airspace co-founder and CEO Nick Bulcao said: “Our latest series C funding enables us to continue our rapid growth and succeed not only here in the US, but also abroad.
“We are expanding our services and the markets we reach by providing customers with advanced technology, complete transparency and the fastest delivery options in the industry.”
Airspace pulled in $8m through a 2018 series A round led by Defy.vc that included Qualcomm Ventures, Cross Culture Ventures and Schematic Ventures. All four returned for a $20m series B led by Scale Ventures later the same year.