Transfix Secures $40 Million in Series F Funding, Led by NEA and G Squared

NaVCIS section 321 freight-forwarders shippers carrier newtrul technology port ship4wd lane

Transfix Secures $40 Million in Series F Funding, Led by NEA and G Squared

October 25th, 2023 Tim Jay Leave a comment

Transfix, Inc., the pioneering Intelligent Freight Platform™, has officially closed a successful Series F funding round, with New Enterprise Associates (NEA) and G Squared taking the lead, and Canvas also participating in the round.

This infusion of fresh capital substantially bolsters Transfix’s financial stability, providing a clear path towards profitability. It serves as a testament to the unwavering faith of investors in the company’s distinct approach, where cutting-edge technology and data-driven expertise deliver exceptional services and solutions to highly sophisticated shippers and mid-sized carriers.

Furthermore, this funding underscores the ongoing support of prominent institutional investors for Transfix, a notable achievement considering the challenging climate of the freight industry.

Jonathan Salama, Co-Founder and Chief Executive Officer of Transfix, emphasized the company’s steadfast commitment to enhancing and future-proofing their core business. Their tech-enabled brokerage and software solutions for shippers and carriers have been the bedrock of their success, even in the face of one of the most demanding periods in freight history. Salama expressed his immense pride in being part of this transformative and inspiring team.

Carmen Chang, Partner and Head of Asia at NEA, expressed their belief in Transfix’s innovative solutions, describing them as instrumental in helping companies optimize operations in today’s ever-evolving freight market. NEA’s investment is a vote of confidence in Transfix’s strategic vision and leadership, highlighting the anticipation of a fruitful partnership.

Larry Aschebrook, Founder & Managing Partner at G Squared, commended Transfix for their resilience, determination, and innovative mindset. He noted that Transfix’s unwavering focus on addressing deeply-researched customer needs, rather than succumbing to “shiny object syndrome,” has set them apart. Their dedication to building and refining solutions to meet future demands has been particularly impressive.

This funding round represents a significant milestone for Transfix as they continue to push the boundaries of innovation and make a lasting impact in the freight and logistics sector.

Air Cargo, Archives, Global Logistics, Global Trade Daily

Air Partner and Antonov Team up to Successfully Transport Oversized Aero Engine and AOG Components to Remote Island

December 8th, 2022 Tim Jay Leave a comment

Air Partner, the world leading aviation services group, provided an urgent AOG cargo charter solution to move an oversized aircraft engine and critical tooling to a remote island in the Azores.

This ambitious undertaking utilized an Antonov AN-124 and a Boeing 747 Freighter to transport a replacement aircraft engine, empty stand, tooling, lifting beam, including a 48-ton mobile crane to load and offload the high value and oversized aircraft engine into and out of the AN-124 cargo cabin.

Air Partner offers creative solutions for cargo projects of all sizes and has a 24/7 support team to manage urgent enquiries. Aircraft access can be organized for part or full charter service across small jets to oversized cargo suited to Antonov aircraft.

This complicated logistical challenge took weeks to plan, four days to execute, and required close cooperation between Air Partner’s UK and US offices. These charter flights between airports in Miami, Luxembourg, the Azores, and London also included the deployment of Air Partner personnel to oversee all aspects of the load and offload procedure on-site, at each location.

The Antonov AN-124 aircraft was selected to better facilitate the oversized load and, as a self-loading aircraft, circumvent the smaller loading capabilities of the remote destination.

A B747-F was used to transport the serviceable engine from Miami to Luxembourg. The cargo was then loaded onto an AN-124 for transport to the Azores. A 48-ton mobile crane was sourced and also loaded on the AN-124, along with a driver and rigger, due to unconfirmed availability of suitable mobile lifting equipment on the island. This was a value-added solution to provide capability for loading and offloading of the aircraft, as well as assisting with lifting and installation of various engine components onto the AOG aircraft.

Following the successful operation, the AN-124 was flown to Stansted airport with the unserviceable engine, empty stand and mobile crane onboard. The mobile crane was repositioned back to the base in the EU, and the unserviceable engine and tooling trucked to Amsterdam for onward scheduled flights.

About Air Partner Group, a Wheels Up Company  

Founded in 1961, Air Partner Group is a world-leading international aviation services group providing aircraft charter, aviation safety and security solutions, and managed services to industry, commerce, governments, and private individuals, as well as civil and military organizations.

The Air Partner Group has two divisions: Air Partner Charter and Air Partner Services (previously Safety & Security). Air Partner Charter comprises of group charter, private jets, cargo, and specialist services. Group Charter charters large airliners to move groups of any size. Private Jets offers the Company’s unique pre-paid JetCard scheme and on-demand charter for up to 19 people. Cargo charters aircraft of every size to fly almost any cargo anywhere, at any time.

Air Partner Services comprises Baines Simmons, Redline Assured Security Ltd, Air Partner CHS, Kenyon International Emergency Services, and Managed Services. Baines Simmons offers aviation safety management and fatigue risk management. Redline Assured Security delivers government-standard security training, consultancy, and solutions to regulated, high value and high threat environments. Kenyon International Emergency Services is a world leader in emergency planning and incident response. Air Partner CHS specializes in conditioning monitoring solutions that predict and prevent the failure of electromechanical systems.

Air Partner works with Climate and Development experts Climate Impact Partners, to allow clients to offset carbon emissions in support of projects that not only cut carbon but also alleviate poverty and improve lives.

Air Partner Limited is a Wheels Up company, the leading provider of on-demand private aviation in the U.S. and one of the largest private aviation companies in the world. Wheels Up is headquartered in New York City and operates in 25 locations across three continents and employs 2,700 professionals globally. Air Partner Group is ISO 9001:2015 compliant for commercial airline and private jet solutions worldwide.

Archives, Global Logistics, Global Trade Daily

Air Freight Tracker Q4 2022: When the US Recovers, Air Freight Rates will Recover

December 7th, 2022 Transport Intelligence Leave a comment

The balance of supply and demand in early 2023 will be a mix of mediocre or flat demand combined with strengthening supply, according to Ti Insight in its latest data report – Air Freight Tracker Q4 2022.

In 2023 freight rates will continue to weaken and this will end when the American consumer decides, according to data from Ti Insight’s knowledge platform GSCI, featured in its latest report – Air Freight Tracker Q4 2022 – which takes an in-depth look at the demand drivers of air freight, from a muted consumer economy in the US to Asia-Pacific production.

The extraordinary conditions of the past two and half years have ended, with the notable exception of China. However, the effects of the policies remain in the form of inflation that has resulted in higher interest rates and higher prices.

Key findings & data from GSCI:

– The US consumer: The way that US consumer demand moves will have a disproportionately high impact on air freight demand, especially in Q3-Q4 2023. Internet-retail volumes in markets such as the US have fallen-back noticeably, affecting both the domestic and international operations of the big air express companies.

– Inventory: In both electronics and US retail, inventory levels have increased over the past several quarters. In container shipping the so called ‘peak season’ failed to arrive, with demand flatish in Q3 and Q4. This is a strong signal that retailers perceive that their inventory levels are at least adequate and possibly too high- going into Christmas. This is a strong signal that air freight rates will be under downward pressure in Q4 2022 to at least Q1 2023, and very probably following quarters.

– Asia-Pacific production: The forecast for demand from semiconductor manufacturers suggests that demand will fall between 10-15% year-on-year in Q4 2023. This represents a marked slowing from the perceived wider market trends at the beginning of the year. The result is a much weaker air freight demand environment, especially across and around the Pacific.

– China & its COVID policies: China’s COVID policies are continuing to depress activity of all kinds, especially air transport. This reduces both the supply of and demand for air freight capacity. However, if China were to return to something like normality, then the implications for the wider global air freight market would be significant with renewed demand surging onto the market.

– Passenger air travel: The appetite for passenger air travel is returning, yet in many regions the volume of air transport operations is not yet at 2019 levels. However, the trajectory looks promising and there is a real prospect that early 2023 will see the belly freight market returning to the very well supplied conditions seen previous to 2020.

– Express carriers expand: All of the three large express carriers have expanded their fleets over the past two years, whilst airlines such as Emirates retain enlarged freighter capability. There have also been significant new entrants, such as Maersk and CMA CGM who have engaged substantial fleets of freighters. All of this suggests that the supply side will be very accommodative in 2023 and beyond.

– Jet fuel: At present it might be tempting to assume that prices will remain high. However, they weakened noticeably through Q2-Q3 2022, so further weakening in the face of any recession in the US and low growth in China should not be ruled-out. Although the war in the Ukraine is perceived to have affected oil prices, the effects of this should not be exaggerated. Oil is more fungible than gas.

board Airforwarders want better infrastructure to facilitate shipments of export cargo and import cargo in international trade.

Archives, Global Logistics, Global Trade Daily, News

Airforwarders Association Appoints Rock-It Global’s Jacob Fisher As Newest Board Member

July 17th, 2022 Meantime Communications Leave a comment

Rock-It Global Chief Administration Officer Sasha Goodman’s term expires after 12 years of service on AfA Board of Directors

Rock-it Global has signaled its close support for the Airforwarders Association (AfA) by maintaining a leading presence on its Board of Directors following Sasha Goodman’s term, which expires at the end of 2022.

Although unrelated to Goodman’s departure, Jacob (Jake) Fisher, Vice President and General Counsel to AfA Platinum member Rock-It Global, will join the AfA Board, effective immediately.

“Jake brings a wealth of industry experience and legal expertise to the AfA board,” said Kirk McCann, AfA Chairman of the Board, and Executive Director of North American Development, Scan Global Logistics.

“Please join the Board of Directors and me in congratulating Jake on this prestigious appointment. We look forward to working with him in advancing the agenda for AfA.”

Longstanding and esteemed member of the AfA Board Sasha Goodman, Chief Administration Officer, Rock-It Global, will remain an active AfA member continuing on the planning committee for the AfA AirCargo Conference, at which she will take a leadership role in the women’s networking event.

The AfA AirCargo Conference takes place in Nashville, Tennessee, February 12 – 14, 2023.

“Sasha has done a tremendous job not only representing our company but also advocating for women in our industry,” said Paul Martins, Chief Executive Officer (CEO), Global Critical Logistics, the parent company of Rock-it Global, Dietl International, Dynamic International, Cosdel, and CargoLive.

“It is fantastic that our company will continue to be well represented on the AfA Board by Jake Fisher.

“Thank you again Sasha and congratulations, Jake!”

Fisher was elected to fill an interim slot created by the departure of Brendan Akamu, who recently accepted a position with Hawaiian Airlines.

Airline members are not eligible to hold a seat on AfA’s board.

Akamu’s former seat term expires this Fall, at which time Fisher will be required to run for re-election for a four-year term.

More at meantime.global

Archives, Global Trade Daily, News

Kuehne + Nagel Finalize Worldwide Perishable Canada Co. Acquisition

July 25th, 2019 GT Staff Leave a comment

Adding to its current presence throughout Canada, Kuehne + Nagel announced the completed acquisition of Worldwide Perishable Canada Co. (WWP) – known as a leader in tuna exports in addition to being one of the largest freight forwarders in Canada. This acquisition represents forward movement for the company to expand its position as a key provider in perishable cargo.

“We are looking forward to joining the Kuehne + Nagel Group. Combining the strengths of both companies, we will add outstanding value in the regional and international perishables business. For both, our customers and our employees this will generate growing perspectives and services,” said Doug McRae, Chief Operating Officer Worldwide Perishables Canada Co.

WWP was originally launched as a designated forwarder with a focus on local demand. The Halifax-based company brings more than seafood logistics expertise to the table, however. Information released by K+N confirmed more than 17,000 tons of perishable air exports per annum out of Canada will be represented through combining company volumes.

“Perishables logistics is one of our strongest growth drivers at Kuehne + Nagel, thus, we have been continuously investing in the expansion of our dedicated network: through selected acquisitions and by connecting key production countries to major markets,” says Greg Martin, Regional Airfreight Manager Kuehne + Nagel North America. “Setting up global certified standards which are reflected in our KN FreshChain solution, has further strengthened our perishables network worldwide, making it the largest in the industry.”

“Acquiring a specialized player in seafood logistics, Kuehne + Nagel consolidates its leading position in the market,” said Jamie Wood, National Manager Kuehne + Nagel Canada. “Using the network and experience of both companies, our customers can benefit from an enhanced offering and the best possible solution to their needs.”

Archives, Global Trade Daily, News

GEODIS Launches Airside Gateway at Schiphol

July 17th, 2019 GT Staff Leave a comment

In response to substantial growth volumes recently experienced by global logistics specialist GEODIS Netherlands, the company announced the launch of its Airside Gateway – an innovative airfreight handling system located at Amsterdam’s Schiphol Airport hub, right next to the runway.

The Gateway offers 2500 m2 of warehouse and office space and serves as another step towards the company’s goal of streamlining efficiencies using innovation for the customer’s benefit.

“We estimate that Gateway will bring a significant decrease in airfreight handling times, ensuring quicker delivery of cargo and a better service to our customers,” Ellis de Jong, Operations Director Freight Forwarding said in the announcement. “Export wise, with Gateway we gain more efficiencies on the consolidation side.”

This effort not only supports meeting the increase in demand, but paves a way for a jump start in efficient delivery of goods while enhancing security measures. The announcement confirms the company is following the growth strategy set in place involving innovation and the Amsterdam Gateway.

“The opening of the Amsterdam Gateway is the next important step in both our regional planning and in our global growth ambitions. It will substantially increase our competitiveness and reinforce the crucial hubbing function of our airfreight operation in the region,” concluded Thomas Kraus, President & CEO North, East and Central Europe.

Transfix Secures $40 Million in Series F Funding, Led by NEA and G Squared

most viewed today