Cargo charter portal CharterSync will invest in developing its artificial intelligence and machine learning capabilities following its latest investment round.
While the company would not disclose details, CharterSync said the investment round marked a "pivotal moment” in its development as it “doubles down on enhancing its technology and strengthening the internal team”.
The funds would enable the further development of the platform, with a “significant focus” on the use of AI and machine learning.
“This includes recruiting top-tier in-house developers and enhancing its air charter expertise to better serve a rapidly growing client base,” the tech firm said in a press release.
CharterSync founder Ed Gillett told Air Cargo News: “We’re applying AI and machine learning to streamline two core areas: enquiry processing and cargo-aircraft matching.
"In the near term, we’re using natural language processing to extract key shipment data such as dimensions, weight, deadlines and handling needs from forwarder enquiries to automate search inputs in our platform and reduce manual errors.
"Longer term, we’re developing intelligent matching algorithms that analyse aircraft performance, route data, cargo requirements and historical utilisation to identify optimal pairings. This allows us to uncover high-quality charter options faster and more accurately, identifying options that often go unnoticed in traditional, manual searches.”
Gillett added that the amount raised would not be released, but said the investment marked the first investment round of CharterSync’s new growth phase.
"Since becoming fully independent in 2024, our focus has been on finding the right partners, investors who not only understand our strategy but are committed to supporting our long-term vision. This round was about building long-term momentum with the right partners beside us, not just capital."
In the press release, he said the company was partnering with an "experienced and strategically aligned group of investors".
In 2023, ECS Group-owned investment and development organisation CargoTech invested in the CharterSync portal, although it is no longer part of the group.
This investment followed a previous management buyout in 2021. The company was launched in 2019.
