Aviation Business News

Airnguru completes $1m funding round to drive growth and innovation

Pricing solutions specialist for airlines, Airnguru, has announced the completion of a $1 million pre-seed A funding round.

The Chilean-based firm has developed technology that provides pricing intelligence insights, fare management, and price automation for airlines.

The new investment will allow Airnguru to further establish its existing products but also fund the development of new solutions.

This will include its ABM Simulator for strategy optimisation and a new suite for ancillary price optimisation and management.

The early stage funding round was supported by a group of angel investors formed by senior executives, board members, family offices, and entrepreneurs.

Airnguru has reported increasing demand for its services having more than doubled its “annualised recurrent revenue” in the last 12 months.

It says it aims to build “a robust, global customer base for its core pricing solutions, as well as achieve operational break-even by the last quarter of 2024”.

Having been founded in 2015, Airnguru’s has struck partnership with tier one carriers Qatar Airways and British Airways as well as a number of smaller innovative airlines including Avianca, Copa Airlines, LOT Polish Airlines, Finnair, and SKY Airline.

Sergio Mendoza, chief executive and co-founder of Airnguru, said: “We’re delighted to have successfully completed a $1 million USD funding round, a testament to Airnguru’s commitment to helping airlines unleash their full potential to maximize profits, productivity, and innovation.

“This capital injection will further empower us to expand our client base and solidify our position as a one-stop-shop provider of pricing intelligence and execution, fare management, and price automation solutions to some of the world’s largest carriers.”

Airnguru’s cloud-native platform helps airlines increase profits by optimising their pricing strategies.

It claims its Software-as-a-Service (SaaS) solution “substantially reduces time-to-market via price automation, preventing price distribution errors and streamlining the pricing processes from inception to completion”.

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