– USA, CA – Airspace, the technology platform revolutionizing time-critical logistics, today announced that it closed a $38 million Series C funding round co-led by Telstra Ventures and HarbourVest Partners, alongside returning backers Scale Ventures, Defy Partners, along with Qualcomm Ventures and Prologis Ventures. To date, the company has secured a total of over $70 million through its three funding rounds.
Concurrent with the financing, Mark Sherman, managing partner of Telstra Ventures joined the Board of Directors and will share equally with the other four board members the responsibility for future investment decisions.
“I am excited to join the Board because there has never been a more important time in solving how to move precious time sensitive cargo effectively,” said Mark Sherman, managing partner of Telstra Ventures. “Airspace proves the beauty of people and AI working together to deliver the best time-critical logistics experience. Combining human experience and AI allows Airspace to stand out amongst its competitors and be the trusted partner for time-critical logistics.”
Airspace has revolutionized the industry, ensuring that these critical packages are delivered faster and with more precision and are more resilient to disruptions along the way, all thanks to a deep layer of predictive machine learning technology. Airspace provides real-time data and transparency on every shipment, allowing companies to better track the shipments that matter the most.
Airspace has seen tremendous growth over the past two years, and, as part of this latest round of funding, the company is expanding internationally. Airspace recently announced the opening of its new office in Amsterdam, enabling further organic expansion in the European market. Airspace is now well-positioned to expand even further ahead of its competition by growing its global network of drivers and expanding its suite of service offerings.
“Our latest Series C funding enables us to continue our rapid growth and succeed not only here in the U.S., but also abroad,” said co-founder and CEO, Nick Bulcao. “We’re expanding our services and the markets we reach by providing customers with advanced technology, complete transparency, and the fastest delivery options in the industry.”
Over 200 customers, including LabCorp, Alaska Airlines, Quest Diagnostics, and American Red Cross, already rely on Airspace to deliver their time-critical shipments throughout North America and Europe. They depend on Airspace to quickly and securely deliver sensitive packages ranging from high-value components for critical machinery and airplanes to life-saving treatments and organ transplants.
“Airspace’s growth continues to inspire me,” added Nick Bulcao. “We have already accomplished so many amazing feats, including our part in saving over 100,000 lives since we began organ deliveries. The ongoing support from our investors means that this number will only increase as we continue to develop solutions for our customers worldwide.”
About Airspace
Based in Carlsbad, Calif., Airspace was founded in 2016 and has grown to be the leading global delivery network for time-critical logistics. Airspace makes shipping faster, safer, and more transparent than ever through people, service, and technology. From real-time, data-driven notifications to tracking over 16,000 touchpoints within a shipment, Airspace surfaces more information than any other provider, increasing the velocity and transparency of the supply chain.
For more information: https://www.airspacetechnologies.com/
About Telstra
Telstra Ventures is a strategic growth investor in lighthouse technology companies, backed by Telstra Corporation, one of the 20 largest telecommunications providers globally, and HarbourVest, a global private markets investment specialist. With offices in San Francisco, Sydney, Melbourne, and Shanghai, Telstra Ventures has invested in over 70 innovative businesses that bring disruptive technological solutions and radical thinking to customers.
Telstra Ventures is Australia’s largest Venture Capital Fund and through our Revenue Bearing Relationships Platform have delivered $US300M in revenue to our portfolio and continues to offer entrepreneurs access to genuine revenue growth and shortens the time to reach global scale, which in turn can deliver improved financial returns to our investors.
For more information: https://telstraventures.com/
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.