Intelligent airport management platform AeroCloud has raised $12.6m in Series A funding led by US fund Stage 2 Capital.
I2BF Global Ventures, Triple Point Ventures, Praetura Ventures and Starburst Ventures also joined in the round, along with existing investors Playfair Capital and Haatch. The Praetura and Haatch commitments to the round were supported with additional investment through the British Business Investments’ Regional Angel Programme. AeroCloud has now raised $16m in total.
The new Series A funding will enable AeroCloud to scale up, with plans to double the team of 40 by the end of the year across its HQ in Macclesfield, North West England, as well as its offices in London and Florida. This will help it to reach its target of over 100 customers in 2023, which will require growing its presence in North America and Europe, as well as delivering innovative new product launches based on machine learning, AI and self-service.
George Richardson, co-founder and CEO at AeroCloud, said: “Raising capital in this market has been tough but I am delighted with the results owing to our strong growth and impressive team. It’s been an incredible few years building this business and I am looking forward to seeing what the future holds.”
AeroCloud uses technologies such as AI and machine learning combined with hardware to transform airport operations, drive communication amongst stakeholders, and increase airport efficiency and operating margins. The platform enables everything from faster passenger processing times to improved self-service check-in and bag drop, and facilitates increased communication between stakeholders to deal with real-time fluctuations in processes, ensuring that airports work better and communicate effectively with their customers.
The cloud-native platform enables unlimited licenses per customer so an airport’s entire stakeholder base can have access to the platform at no extra cost. This also means AeroCloud can be used on any device wherever an airport’s team is based, whether that’s onsite or remote and ensures the platform is more secure than legacy systems which are often run on centrally-located stack servers.