AeroCloud has raised $12.6m in Series A funding in an investment round led by US fund Stage 2 Capital. The new funding will aid the start-up in its goals for expansion, which includes plans to double its Macclesfield HQ team by the end of the year as well as a target to reach over 100 customers in 2023.
The start-up received additional contributions from existing investors Playfair Capital and Haatch, as well as I2BF Global Ventures, Triple Point Ventures, Praetura Ventures and Starburst Ventures. The contributions from Praetura and Haatch provided additional investment through the Regional Angel Programme by the British Business Investments, bringing the total funds raised to $16m.
“In only a small time, AeroCloud has become the definitive operating software for small to medium-sized airports,” said Liz Christo, Partner, Stage 2 Capital. “Each module is so critical to running an airport’s operations that good enough is not an option, it has to be perfect.”
AeroCloud combines AI and machine learning with hardware to provide efficient solutions for airport operations, enabling faster passenger processing times, improved self-service check-in and bag drop and providing an overview that highlights inefficiencies and opportunities for improvement in an airport’s operations, from flight management to passenger predictions and gate management.
George Richardson, co-founder and CEO, AeroCloud, said: “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 out platform and within two weeks, it’s already driving efficiency and operation gains.
“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.”