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Freightos | |
Company type | Public |
Nasdaq:CRGO | |
Industry | Logistics |
Founded | January 1, 2012 |
Founder | Zvi Schreiber, CEO |
Headquarters | , Spain |
Number of locations | Barcelona, Jerusalem, Ramallah |
Products | Software-as-a-service: WebCargo Air, WebCargo AcceleRate |
Services | Digital booking and payments platforms: WebCargo, freightos.com |
Revenue | $21 million |
Number of employees | 350 |
Website | www |
Freightos operates a booking and payments platform for international freight, [1] using a SaaS-Enabled Marketplace model. [2] It also provides rate management and quoting software for freight forwarders and carriers through WebCargo, a subsidiary acquired in 2016 [3] [4]
The freightos.com online freight marketplace, which as first piloted in July 2016, enables online instant freight quoting and booking, as well as shipment management. [5] The platform is also used by partners, like Alibaba.com. [6]
The company went public on Nasdaq with ticker symbol CRGO January 2023 by combining with the SPAC Gesher 1. [7] [8] The company is registered in Cayman Islands and its largest office is Barcelona.
Freightos was founded in January 2012 by Zvi Schreiber. Schreiber has previously founded and managed other start-up companies including companies acquired by IBM and GE. The first beta customers of Freightos went live in October 2012 and the SaaS service was commercially launched in March 2013. Freightos raised initial funding from OurCrowd. [9] Freightos is the trading name of Freightos Limited a Cayman Islands company (previously named Tradeos Limited, a Hong Kong company). Freightos has been a member of the Airforwarders Association since January 2013 [10] and the International Air Cargo Association since 2021.
In August 2016, Freightos bought Spanish startup WebCargoNet, [11] which later was marketed at WebCargo by Freightos. A similar, India-based air cargo rate management product, Air Freight Bazaar, was acquired by the company in 2019. [12]
In March 2017, Freightos raised $25 million in Series B funding led by GE Ventures bringing the company's total funding to $50 million.
In April 2018, Freightos launched a daily containerized index, called the Freightos Baltic Exchange Index. [13] This is widely used as an indicator of global container prices. [14] [15] In 2021 Freightos launched the Freightos Air Index (FAX) of air cargo rates.
In September 2018, Freightos announced a $44.4 million dollar Series C funding round, led by the Singapore Exchange and together with previous investors, including Aleph and More VC. [16] During the interview, Freightos founder Zvi Schreiber also mentioned the company's aspirations to connect carriers, like airlines, directly to forwarders and shippers.
In January 2021, Freightos announced the acquisition of 7LFreight, an air and trucking rate management software solution with a core customer base in the United States. [17]
On July 26, 2016, Freightos launched one of the world's first online marketplaces for international freight, [18] providing instant comparison, booking, and management of freight services from multiple logistics providers. [19] [20] Over time, a number of partnerships related to this endeavor were announced, including direct booking with CMA CGM, [21] a top-five ocean liner. [22]
WebCargo provides rate management including features for uploading freight pricing contracts in Excel, a database for freight rates, and a module for automatic freight and quotations on the Web. The quotation algorithm includes routing of door-to-door freight services. [23] This supports exchanging quote requests and quotes between freight forwarders and their agents.
Since 2018, cargo airlines began to offer connectivity for air cargo pricing and booking. During these years WebCargo changed its business model to be primarily a booking platform, and the company claims to be the largest platform with which freight forwarders digitally book air cargo services with airlines. In July 2018, Lufthansa became the first airline to offer direct rates for forwarders on the platform. [24] This was followed by additional airlines, including Air France–KLM in April 2019, [25] IAG Cargo (British Airways and Iberia) in July 2019, [26] SAS Cargo in November 2019, [27] Etihad in February 2020, [28] AirBridgeCargo in June 2020, [29] Qatar Airways in January 2021, [30] TAP Air Portugal Cargo in January 2021. [31]
Freight transport, also referred as freight forwarding, is the physical process of transporting commodities and merchandise goods and cargo. The term shipping originally referred to transport by sea but in American English, it has been extended to refer to transport by land or air as well. "Logistics", a term borrowed from the military environment, is also used in the same sense.
Cargo airlines are airlines mainly dedicated to the transport of cargo by air. Some cargo airlines are divisions or subsidiaries of larger passenger airlines. In 2018, airline cargo traffic represented 262,333 million tonne-kilometres with a 49.3% load factor: 52.1% for dedicated cargo operations, and 47.9% within mixed operations.
Cargolux, legally Cargolux Airlines International S.A., is a Luxembourgish flag carrier cargo airline with its headquarters and hub at Luxembourg Airport. With a global network, it is among the largest scheduled all-cargo airlines in the world. Charter flights and third party maintenance are also operated. It has 85 offices in over 50 countries as of 2018, and operates a global trucking network to more than 250 destinations.
Swiss International Air Lines AG, stylized as SWISS, is the flag carrier of Switzerland and a subsidiary of the Lufthansa Group, as well as a Star Alliance member. It operates scheduled services in Europe and to North America, South America, Africa and Asia. Zurich Airport serves as its main hub and Geneva Airport as its secondary hub.
Frankfurt Airport, is Germany's main international airport by passenger numbers, located in Frankfurt, Germany's fifth-largest city. In the German Aeronautical Information Publication, its name is Frankfurt Main Airport. The airport is operated by Fraport and serves as the main hub for Lufthansa, including Lufthansa CityLine and Lufthansa Cargo as well as Condor and AeroLogic. It covers an area of 2,300 hectares of land and features two passenger terminals with capacity for approximately 65 million passengers per year; four runways; and extensive logistics and maintenance facilities.
In transportation, freight refers to goods conveyed by land, water or air, while cargo refers specifically to freight when conveyed via water or air. In economics, freight refers to goods transported at a freight rate for commercial gain. The term cargo is also used in case of goods in the cold-chain, because the perishable inventory is always in transit towards a final end-use, even when it is held in cold storage or other similar climate-controlled facilities, including warehouses.
Qatar Airways Company Q.C.S.C., operating as Qatar Airways, is the flag carrier of Qatar. Headquartered in the Qatar Airways Tower in Doha, the airline operates a hub-and-spoke network, flying to over 170 international destinations across five continents from its base at Hamad International Airport. The airline currently operates a fleet of more than 200 aircraft. Qatar Airways Group employs more than 43,000 people. The carrier has been a member of the Oneworld alliance since October 2013, and the official company slogan has been "Going Places Together" since 2015.
Etihad Airways is one of two flag carriers of the United Arab Emirates, alongside Emirates. Its head office is in Khalifa City, Abu Dhabi, near Zayed International Airport. The airline commenced operations in November 2003, and is the second-largest airline in the UAE after Emirates.
Lufthansa Cargo AG is a German cargo airline and a wholly owned subsidiary of Lufthansa. It operates worldwide air freight and logistics services and is headquartered at Frankfurt Airport, the main hub of Lufthansa. Besides operating dedicated cargo planes, the company also has access to cargo capacities of 350 passenger aircraft of the Lufthansa Group.
The largest airlines in the world can be defined in several ways. As of 2023, Delta Air Lines is the largest by revenue, assets value, fleet size and market capitalization; American Airlines Group by passengers carried, revenue passenger mile, number of employees and destinations served; FedEx Express by freight tonne-kilometers; Ryanair by number of routes; and Turkish Airlines by number of countries served.
An airline hub or hub airport is an airport used by one or more airlines to concentrate passenger traffic and flight operations. Hubs serve as transfer points to help get passengers to their final destination. It is part of the hub-and-spoke system. An airline may operate flights from several non-hub (spoke) cities to the hub airport, and passengers traveling between spoke cities connect through the hub. This paradigm creates economies of scale that allow an airline to serve city-pairs that could otherwise not be economically served on a non-stop basis. This system contrasts with the point-to-point model, in which there are no hubs and nonstop flights are instead offered between spoke cities. Hub airports also serve origin and destination (O&D) traffic.
A freight rate is a price at which a certain cargo is delivered from one point to another. The price depends on the form of the cargo, the mode of transport, the weight of the cargo, and the distance to the delivery destination. Many shipping services, especially air carriers, use dimensional weight for calculating the price, which takes into account both weight and volume of the cargo.
Austrian Airlines AG, often shortened to Austrian or AUA, is the flag carrier of Austria and a subsidiary of Lufthansa, the flag carrier of the Federal Republic of Germany. The airline is headquartered on the grounds of Vienna International Airport in Schwechat where it also maintains its hub. As of July 2016, the airline flew to six domestic and more than 120 international year-round and seasonal destinations in 55 countries and is a member of the Star Alliance.
Châteauroux-Centre "Marcel Dassault" Airport, formerly known as Châteauroux-Déols "Marcel Dassault" Airport, is an airport serving the French city of Châteauroux. The airport is located 5.5 km (3.0 NM) north-northeast of Châteauroux in Déols, a commune of the Indre department in the Centre-Val de Loire region in France. The airport is named after Marcel Dassault and is located on the site of the former Châteauroux-Déols Air Base. It is dedicated to air freight, aeronautical maintenance, pilot training and training of airport firefighters.
Zvi Schreiber ( is a British-Israeli businessman, executive, and author. He founded high-tech startups like G.ho.st, which at the time was considered the only high-tech startup with a joint Palestinian–Israeli team. In 2011 Schreiber was CEO of Lightech which he sold to GE Lighting.
time:matters is a German logistics company specializing in urgent transports and time-critical international shipping. The company, founded on January 1, 2002, is owned by Lufthansa Cargo. The company benefits from exclusive cooperation agreements, providing access to the Lufthansa Group network, Intercity-Express high-speed railway services of Deutsche Bahn, as well as collaborations with Frankfurt International Airport and Munich Airport. Additionally, time:matters operates its own courier terminals. Its services cater to various industries, including Life and Health, Medical Technology, Aviation and Aerospace, Machinery and Components, Automotive, and High Tech and Semiconductors.
Haven Inc. is a company that automates logistics for ocean freight companies. Based in Singapore, San Francisco and Basel, it manages a freight rate and logistics for large international supply chains. Haven is considered one of the pioneers of the digital revolution in shipping logistics.
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A preighter, also known as cargo in cabin, is an aircraft originally intended to carry passengers but which is operated temporarily as a cargo aircraft by loading freight in the passenger cabin. The term is a portmanteau of "passenger" and "freighter" and is attributed to Lufthansa chief executive Carsten Spohr; it came to use as commercial airlines responded to the 2020 COVID-19 pandemic.