Airport management platform AeroCloud has raised $12.6 million in a Series A round.
The investment was led by Stage 2 Capital with I2BF Global Ventures, Triple Point Ventures and Praetura Ventures also participating along with existing investors.
The round brings United Kingdom-based AeroCloud’s total to $16 million with the company planning to use the funds to double the team of 40 employees by the end of 2023.
AeroCloud is targeting more than 100 customers by the end of this year from its current base of 42.
The startup uses artificial intelligence and machine learning technologies to increase airport efficiency, improve communication and drive up operating margins.
A statement says the cloud-based 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 to ensure that airports work better and communicate with their customers.”
The company is currently focused on small- to medium-sized airports that it says still often rely on Excel spreadsheets and legacy technology to manage operations.
The statement adds that AeroCloud’s “modular, scalable management platform centralizes all the siloed data across an airport into one platform that can be accessed by all stakeholders, providing an overview of everything taking place. The platform uses AI to highlight inefficiencies, as well as improve operations, from flight management to passenger predictions and gate management. In only two weeks, an airport can run much more efficiently, helping decrease operational costs and increase margins.”
George Richardson, co-founder and CEO of AeroCloud, says: “The airport industry has had a difficult few years, which has only increased the need for a scalable, intelligent platform like AeroCloud. Before we launched AeroCloud, airports were forced to use legacy technology that was difficult to scale and barely fit for purpose. Now, it takes only 24 hours for an airport to onboard onto our platform and within two weeks, it's already driving efficiency and operation gains.”
Current airport partners include the U.K.’s Manchester Airport, Eindhoven Airport in Germany and Tampa International Airport in the United States.