Aircon raises over $3m in seed funding
23 / 08 / 2023
Airfreight consolidation company Aircon has secured seed funding that will enable it to invest in industry partnerships, grow its AI tech infrastructure and expand.
The Dallas-based company, which uses AI to identify opportunities across airfreight shipments to maximise space and weight utilisation and reduce costs, has closed a $3.3m seed round led by Underscore VC.
Aircon aims to transform the “highly fragmented and inefficient” air cargo industry through consolidation. Through its network of shared airfreight gateways, Aircon combines shipments leveraging AI and machine learning to consolidate cargo heading to the same destination while optimising space on aircraft.
This enables forwarders of all sizes to have access to consolidation options worldwide, creating operating efficiencies and improving margins.
Aircon provides an instant quote and aims to simplify the entire airfreight booking, monitoring, and cost-cutting process.
The Aircon algorithms pool shipments that combine dense and voluminous cargo to achieve the master consolidation available while passing the “net effect” of savings back to the freight forwarder.
“Aircon was founded to allow forwarders of all sizes access to consolidation options worldwide with a unified goal toward giving the freight forwarders they partner with, a competitive edge,” said Chris Condon, founder and chief executive of Aircon.
“We are challenging the status quo of long-term dominance by large established players and offering small and medium forwarders a seat at the table for the very first time. Through consolidation, we are in a unique position to contribute to the long-term growth and sustainability in the air cargo space.”
“When we first met with the Aircon team, we were blown away by the depth of their knowledge in the airfreight industry along with their vision for Aircon to digitize the airfreight industry,” said John Pearce, at Underscore VC.
“The Aircon team has a unique combination of deep airfreight experience paired with data science expertise that will help to capture the large opportunity ahead. As firm supporters of uniquely qualified founders solving painful problems, we’re proud to back the Aircon team and lead their seed round.”