DALLAS-based aircon is aiming to drive more consolidation in the global airfreight industry, landing a US$1 million early-stage funding round to build its solution for small and mid-market forwarders, reports IHS Media
The company was founded in 2021 by a trio of forwarding veterans to solve a missing piece in the airfreight market.
The company declared that the funding will be used for new product development and expansion into additional segments of the air cargo industry.
Aircon CEO Chris Condon declared that a majority of airfreight is not consolidated in a planned way, but is collected at cargo facilities at the origin airport.
That unplanned approach leaves underutilised opportunities to access capacity, impacting the prices forwarders pay on a per-kilo basis.
'Some of the barriers to doing this are physical,' said Mr Condon.
'You do need to have a consolidation point. But most of it is an accounting issue. It gets political how each [forwarder] branch is funded or bonused.'
Aircon uses its software to sort through its customers' shipments 'with dissimilar attributes that are headed to the same destination.'
The software arranges those shipments into larger consolidations to maximize space and weight utilization on an aircraft.
Said Aircon: 'The net effect is a lower cost per kilogramme that we pass directly to forwarders using Aircon,'
'This allows them to price themselves competitively with forwarders who deal with substantially larger volumes.'
SeaNews Turkey
The company was founded in 2021 by a trio of forwarding veterans to solve a missing piece in the airfreight market.
The company declared that the funding will be used for new product development and expansion into additional segments of the air cargo industry.
Aircon CEO Chris Condon declared that a majority of airfreight is not consolidated in a planned way, but is collected at cargo facilities at the origin airport.
That unplanned approach leaves underutilised opportunities to access capacity, impacting the prices forwarders pay on a per-kilo basis.
'Some of the barriers to doing this are physical,' said Mr Condon.
'You do need to have a consolidation point. But most of it is an accounting issue. It gets political how each [forwarder] branch is funded or bonused.'
Aircon uses its software to sort through its customers' shipments 'with dissimilar attributes that are headed to the same destination.'
The software arranges those shipments into larger consolidations to maximize space and weight utilization on an aircraft.
Said Aircon: 'The net effect is a lower cost per kilogramme that we pass directly to forwarders using Aircon,'
'This allows them to price themselves competitively with forwarders who deal with substantially larger volumes.'
SeaNews Turkey
