Sarah Schmid
Fontinalis Partners, the Detroit-based venture capital firm focused on next-generation mobility and transportation startups, announced this week that it has invested in SmartKargo, headquartered in Cambridge, MA. The terms of the deal were not disclosed.
SmartKargo was founded by MIT grads in 2013 to harness cloud computing, data analytics, and mobile devices in the management of air cargo. According to Fontinalis, seven airlines across the world already use SmartKargo, which allows paperless transactions and online management of cargo between shipper and recipient. The company has a state-of-the-art development center in Pune, India, and plans to launch a support center in Manila, Philippines.
Chris Cheever, a partner at Fontinalis, will join SmartKargo’s board as part of the deal. In a press release, he said, “We feel strongly that SmartKargo offers a best-in-class solution for airlines of all sizes and we look forward to working with the team to drive tremendous growth.”
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