Cargo Start is an Innovative Start-up established in 2020 by a team of professionals operating in the air cargo sector since the early 2000s. Based in Rome, the Company specializes in innovative, high-value-added digital solutions for operators in the air cargo supply chain, and, more specifically, freight forwarders, ground handling companies and air carriers.
Cargo Start’s flagship product is StarTracking®, an airport-to-airport tracking solution with real-time status updates which has already been integrated with Circle Group proprietary products MILOS®, Global Supply Chain Visibility, Master SPED® and Master TRADE®. The agreement signed provides that Circle Group perfects an investment transaction for a total amount of € 500,000.00 through the subscription of a reserved paid share capital increase.
Pierpaolo Platania, Director at CARGO START states: “We have enthusiastically welcomed the opportunity to join CIRCLE Group, convinced that it will enable us to strengthen our competitive positioning as a technology provider in the international air cargo sector and to create value for our customers, as well as for the shareholders of the Group”.
Emanuele Vurchio, General Manager at CARGO START added: “We are sure that our synergies will strengthen our contribution to the process of digital transformation of the multimodal logistics. Maintaining the uniqueness of our historic vocation for air cargo, we will work together to realize our common vision of increasingly integrated and collaborative logistics. We will continue to operate independently, sharing with Circle Group its excellence, relationships, and technological tools, in a logic of reciprocity and full collaboration”.
Luca Abatello, President & CEO at Circle Group: “We are excited about the new opportunities arising from this operation, thanks to which Circle Group can strengthen its offer in the rapidly expanding air freight segment. With Cargo Start we have started since 2021 a profitable partnership, that we have decided together to consolidate further through this operation, having regard to its strategic value for 2024 Connect 4 Agile Growth path. Our two organizations share the vision of an increasingly usable, integrated, efficient, safe, and sustainable Supply Chain, thanks to technology and process improvement, and the mission to ensure to operators a complete and constant visibility of the flows of goods”.
The acquisition of 51% of Cargo Start will allow Circle Group to further speed up its growth for external lines as already declared during IPO and consistent with the strategic roadmap 2024 Connect 4 Agile Growth.