Airspace Raises $38 Million To Transport Organs, High-Value Parts For Manufacturing And Other Time-Critical Shipments
Airspace, which specializes in time-critical logistics and delivery services for industries such as healthcare, aerospace and high-tech machinery, announced that it has raised $38 million in a Series C round of funding, led by Telstra Ventures. To date, the company has raised $70 million through three funding rounds.
Other backers include Scale Ventures, who led Airspace’s Series B; Defy Partners, who led Airspace’s Series A; along with Qualcomm Ventures, HarbourVest and Prologis Ventures. The company boasts over 200 customers, including Quest Diagnostics DGX +0.8%, Frontier Airlines, LabCorp LH -1.5% and the American Red Cross.
“We’ve more than doubled our growth every year and we are also very capital-efficient, so this round will allow us to continue that trend in 2021 and succeed not just in the U.S., but abroad,” says Nick Bulcao, co-founder and CEO at Airspace, which is based in Carlsbad, California. “Our motto during the Covid-19 downturn has been to thrive through the crisis, not just survive, which is exactly what happened.”
Airspace handles the complex shipping needs of sensitive packages, such as transporting organs or high-value parts for manufacturing. Its software uses predictive machine learning to identify the fastest and lowest risk path to door-to-door delivery, ensuring that potential delays are avoided and guaranteeing real-time, end-to-end customer visibility.
Demand for fast, transparent, secure solutions has only increased in the wake of supply chain challenges during the pandemic. In 2020, Airspace shipped over 200,000 packages, of which 83,807 contained organs.
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Image: Nick Bulcao, Co-Founder & CEO of Airspace / AIRSPACE