E-booking platform Freightos WebCargo has acquired India’s Air Freight Bazaar, a regional air cargo rates and sales platform based in Chennai.
Details of the acquisition are undisclosed.
A spokesperson for Freightos said that the Indian air cargo market had seen 17% year-on-year growth between 2016 and 2017.
Said the spokesperson: “This acquisition combines WebCargo’s advanced air cargo rates, sales, and eBooking platform, used by over 1,400 leading forwarders, with Air Freight Bazaar’s market share of 300 leading regional air forwarders.”
The current team will remain as Freightos India employees.
Air Freight Bazaar customers will receive access to WebCargo’s existing platform, including access to on-demand air rates, dynamic pricing and e-booking with airlines like Lufthansa Cargo.
The acquisition “sets the stage” for future regional expansion of Freightos’ suite of digital freight sales and management platforms.
Air Freight Bazaar co-founder Jose George said: “Our vision has always been to help India’s logistics providers improve with advanced technology.”
Vinay Sethia, Air Freight Bazaar’s co-founder, added: “With Webcargo by Freightos, we can offer our customers improved technology, direct access to over 300 airlines, and e-booking. We’re also excited to represent WebCargo and Freightos in India.”
Freightos chief executive Zvi Schreiber said: “Air Freight Bazaar has been a regional leader in freight digitalization, making them a natural fit.
“Our initial focus in India will be on further automation for local air freight forwarders and collaborating on dynamic pricing and eBooking with regional airlines.
“We’re excited to see how Freightos’ WebCargo platform can bring even more efficiency to India’s air cargo market.”