Index Ventures leads $18.6m round for Cargo.one

Harriet Matthews
28 July 2020

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Index Ventures has led a $18.6m round for real-time air cargo booking platform Cargo.one.

New investor Next47 also participated in the round, along with existing investors Creandum, Point Nine Capital and corporate backer Lufthansa Cargo. The round also saw participation from a number of angel investors.

The company plans to use the fresh capital to hire 70 more people to its team, to expand its base of partner airlines and to expand internationally, focusing on North America and East Asia.

Cargo.one said in a statement that the coronavirus crisis has driven the need for digitalisation in air cargo booking and management, adding that the decrease in passenger numbers has prompted many airlines to convert passenger planes into cargo planes.

Index Ventures held final closes for its two latest funds in April 2020. Index Ventures Growth V, which focuses on later-stage companies and growth rounds, closed on $1.2bn; Index Ventures X, which targets earlier rounds, held a final close on $800m.

Previous funding
Creandum and Point Nine Capital backed a €2m seed round for Cargo.one in October 2018.

Company
Cargo.one is a real-time air cargo booking platform. The platform tracks capacities and prices of airlines in real time, allowing users to access quotes and shipment information. The company currently partners with 12 airlines, according to its website.

Cargo.one was founded in 2017. It is based in Berlin and has 39 employees, according to LinkedIn.

People
Cargo.one – Oliver Neumann, Moritz Claussen (co-founders, managing directors); Mike Rötgers (co-founder, chief technology officer).
Index Ventures – Martin Mignot (partner); Max Rimpel (principal).