Published 25 January 2018
Lufthansa Cargo has invested in US-based tech startup Fleet Logistics as part of its digitization strategy.
Established in 2014, Fleet Logistics is an online marketplace that helps customers to meet the demand for freight services with free capacity provided by logistics firms.
Fleet Logistics has closed a $10m series A financing round led by the Lufthansa Cargo. Existing and new investors such as Hunt Technology Ventures, UPS, UP2398 and 1517 Fund have been participated in the round.
Since its launch in 2014, Fleet has raised a total of $14m. The firm will use the new investment to expand its team in Portland, enhance features and functionality of the product and focus on business development.
For shippers, Fleet provides an option to select ocean carriers, airlines, trucking companies and warehouses to create end-to-end team that to meet their unique business needs.
It will help shippers and forwarders to save money, time and increase efficiencies through fully digitalizing the selection, booking, payment and fulfillment process for shippers’ supply chain needs.
Fleet also allows shippers to collaborate with their team and external service providers.
The platform enables various parties to automate, manage and share all things online, including documentation, communication, and payment.
Lufthansa Cargo CEO Peter Gerber said: “Fleet Logistics is a perfect match for us as the company combines innovative and visionary thinking with a strong intrinsic motivation to improve air cargo booking and shipping efficiency and, finally, our customers’ overall experience.”
Fleet CEO Max Lock said: “Lufthansa Cargo brings strategic industry experience and joins Fleet not only as an investor, but also as a board member, and soon as a partner to help launch our new air freight platform.”
Image: Fleet Logistics is a startup established to simplify international freight shipping. Photo: courtesy of Lufthansa Cargo.
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