Nick Bulcao, Co-Founder & CEO of Airspace
Airspace
Airspace, which specializes in time-critical logistics and delivery services for industries such as healthcare, aerospace and high-tech machinery, announced that it has raised $38 million in a Series C round of funding, led by Telstra Ventures. To date, the company has raised $70 million through three funding rounds.
Other backers include Scale Ventures, who led Airspace’s Series B; Defy Ventures, who led Airspace’s Series A; along with Qualcomm Ventures, HarbourVest and Prologis Ventures. The company boasts over 200 customers, including Quest Diagnostics
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“We’ve more than doubled our growth every year and we are also very capital-efficient, so this round will allow us to continue that trend in 2021 and succeed not just in the U.S., but abroad,” says Nick Bulcao, co-founder and CEO at Airspace, which is based in Carlsbad, California. “Our motto during the Covid-19 downturn has been to thrive through the crisis, not just survive, which is exactly what happened.”
Airspace handles the complex shipping needs of sensitive packages, such as organs for transplants or high-value parts for manufacturing. Its software uses predictive machine learning to identify the fastest and lowest risk path to door-to-door delivery, ensuring that potential delays are avoided and guaranteeing real-time, end-to-end customer visibility.
Demand for fast, transparent, secure solutions has only increased in the wake of supply chain challenges during the pandemic. In 2020, Airspace shipped over 200,000 packages, of which 83,807 contained organs.
This year, Airspace also became a major logistics player in terms of delivering Covid-19 tests and PPE, while the company says it is in talks with multiple states to help with Covid-19 vaccine shipments.
In June, it opened an office in Amsterdam in response to international customer demand, and the company plans to expand its European presence this year. It will also build out its global network of drivers, called “commanders” (over 800 were onboarded in 2020); further develop its service offerings; and deepen customer relationships in new B2B verticals such as oil and gas.
“We’ve been living a dream since we founded Airspace in 2015,” says Ryan Rusnak, CTO of Airspace, who co-founded the company with Bulcao. “This part of the supply chain has historically been so opaque, but we can provide the necessary transparency, accountability and accuracy — with an amazing, talented and motivated team that is ready to tackle all future challenges.”
