Freight Lufthansa Cargo invests into US start-up Fleet

Lufthansa Cargo invests $10 million into US-based tech start-up Fleet.

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Lufthansa Cargo, a subsidiary of the Lufthansa Group, has announced an investment into the start-up Fleet, which is based in Portland.

Fleet was founded in 2014 and acts as an online marketplace, matching customers’ demand for freight services with free capacity provided by logistics companies. The company has developed digital solutions for rate management, automated bookings, document automation and data tracking.

 “Fleet is a perfect match for us as the company combines innovative and visionary thinking with a strong intrinsic motivation to improve air cargo booking and shipping efficiency and, finally, our customers’ overall experience”, says Peter Gerber, CEO of Lufthansa Cargo. “We expect substantial learnings with regard to our product and service portfolio. Thus, we are sure that Lufthansa Cargo and Fleet will mutually benefit from sharing concepts and ideas.” 

The investment should be used to expand the team, develop the product and focus on business development. Dr. Alexis von Hoensbroech, Chief Commercial Officer of Lufthansa Cargo, has joined Fleet’s board of directors.

“Lufthansa Cargo brings strategic industry experience and joins Fleet not only as an investor, but also as a board member, and soon as a partner to help launch our new air freight platform,” said Max Lock, CEO of Fleet. 

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