Investment in a digital booking platform: by acquiring a minority shareholding in Berlin company, Lufthansa Cargo is strategically expanding its digital innovation portfolio.
Lufthansa Cargo is stepping up its cooperation with startup cargo.one and has acquired a minority shareholding in the Berlin company. Lufthansa Cargo is thereby making the switch from early adopter to minority investor.
Berlin-based cargo.one (www.cargo.one) was founded in 2017 by Moritz Claussen, Oliver T. Neumann and Mike Rötgers. The startup has developed a platform for booking and marketing air cargo capacity. Through its focus on offering dynamic spot rates and enabling their booking, cargo.one is the first platform of its kind.
“Cargo.one is another important step towards the digitisation of our industry. We are pleased to have been one of the first airlines to recognise the potential of this multi-airline platform for our customers and to have made ourselves compatible. We are impressed with the technology and user-friendly product. We are also driving digitisation in our industry through cooperation with startups and financial investments such as that in cargo.one”, said Peter Gerber, CEO and Chairman of the Executive Board of Lufthansa Cargo. “Our customers’ overall experience is now strongly improved by being able to more efficiently book air cargo capacity”, continued Gerber.
“The investment in our technology signals to our customers that cargo.one is a strong partner with which to join forces to drive air cargo digitisation. Air cargo capacity worldwide can be made available online through our innovative distribution technology. Accordingly, we want to grow to become a global leader. The minority investment by Lufthansa Cargo now also demonstrates that even a star player in the industry is impressed with our technology”, said a pleased Moritz Claussen, cargo.one founder.
Lufthansa Cargo already invested in a technology startup – Fleet Logistics – based in Portland, USA, back in early 2018. Founded in 2014, Fleet Logistics acts as an online marketplace, matching customer demand for cargo services with free capacity provided by logistics companies.
Lufthansa Cargo has also been cooperating since February 2018 in the role of anchor partner with technology accelerator Plug and Play based in Sunnyvale, USA. This, the world’s largest technology accelerator, brings technology startups and established companies together. They combine their efforts within the supply chain and logistics platform, which is focused on supply chain startups, to further develop and quickly implement new digital solutions. The programme provides an opportunity for logistics players to network with and learn from each other, exchange ideas and drive digitisation.
“The close cooperation between Lufthansa Cargo and technology startups melds comprehensive air cargo experience with a technology-driven, fresh view of global logistics processes”, said Boris Hueske, Head of Digital Transformation at Lufthansa Cargo. “By acquiring a share in cargo.one and Fleet Logistics, Lufthansa Cargo is emphasising its strategic commitment to elevating the air cargo industry to a higher level of digital maturity”, said Hueske.
The logistics industry has recently seen a large number of startups hoping to improve connectivity between the various players in global air cargo supply chains. As a result, even traditional logistics companies are recognising the opportunities available to them through investment in new digital business models.