Worldwide, closing a funding round comes with a new feel for companies, especially a tech company that has been looking to scale its product or venture.
A cloud-native airport management software startup, AeroCloud, that was founded in 2017, is the latest company we (at Techparley) are reporting its raiser after closing a whopping $12.6 million in a Series A funding round.
AeroCloud’s co-founder and CEO, George Richardson, who confirmed the news, noted that the funding will help the company enhance its machine learning expertise.
Since inception, the company deploys its technology to provide customers with estimates based on past data such as predicting the number of passengers that are expected to patronise venture clients during a particular season of the year.
What does the raiser signify?
The funding, led by U.S. VC firm Stage 2 Capital, with participation from Triple Point Ventures, I2BF Global Ventures, Praetura Ventures, Playfair Capital, and Haatch, indicates a strong investor confidence in the company’s projections.
With a vision to simplify airport operations, the new fund will further boosts AeroCloud’s financials as the company looks to offer cloud-based access to data that is required to automate gate assignment for planes while maximizing unused gate capacity to boost income.
AI meets Aero
Commenting on the company’s new raiser, Richardson noted that AeroCloud’s machine learning expertise can reduce the cognitive load on individuals and teams.
With this in place, the company will drastically free up time which can be focused and channeled into other priority challenges.
Cloud computing industry
Cloud computing is a fast-growing industry. In recent years, we have witnessed an increasing number of companies and organizations moving their operations to the cloud.
Aside the need for greater scalability and flexibility, the move has been influenced by push save cost as offered by cloud computing.
The global cloud computing market is expected to grow from $371.4 billion in 2020 to $832.1 billion by 2025, at a compound annual growth rate (CAGR) of 17.5% –according to a report by MarketsandMarkets.
Opportunities for tech talents
Like in Silicon Valley, securing funding has, in a great way, helped companies scale faster then expected especially as it attracts new talents to businesses.
For AeroCloud, the new raiser has the potential to presents an excellent opportunity for tech talents with a passion for AI and aviation to join the team as it seeks to drive innovation in the industry.
How closing funds help startups scale
When startups raise funds, they give an impression that they have gained the trust of investors who, after venture scrutiny, consider their idea worth a valuation.
This is usually followed by venture expansion which, sometime, could be about creating opportunities for tech talents to join the startup.
Another common area is in opening the startup’s management to opportunities in investing in R&D as research and development of innovative products and ideas can be capital intensive.
While lack of strong financials may cripple a venture’s business activities, a new funding round can spice up the atmosphere, where staffers can be rewarded with a better compensation and benefits such as higher salaries, equity options, and other perks.
