Investment firm Fontinalis Partners is putting money into air cargo management solution specialist, SmartKargo - a 100 per cent Cloud-based platform for paperless transactions.
The Cambridge, Massachusetts-based company - founded by MIT engineering and business experts - aims to capitalise on the rise of mobile platforms such as smartphones, tablets and data analytics, and is currently working for seven airlines in North America, Europe and Asia.
Fontinalis invests in and scales up promising high-tech companies. One of its founders is William Ford Junior, great-grandson of the motor manufacturer.
He said: “With the proliferation of e-commerce and the growing complexity and global nature of supply chains, SmartKargo is playing a critical role in ensuring that logistics keep pace with this accelerating demand.”
Fellow Fontinalis founder and partner Chris Cheever will join the SmartKargo board. He added: “We feel strongly that SmartKargo offers a best-in-class solution for airlines of all sizes and we look forward to working with the team to drive tremendous growth.”
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