VM blog: Quincus Announces Second Closing of Series B Funding Led by AEI HorizonX
Quincus announced a second close of its Series B funding round led by AEI HorizonX, AE Industrial Partners, LP’s ventures platform. AEI HorizonX joins Quincus’ initial series B investors UP.Partners and GGV Capital at over US$100 million.
Quincus marks AEI HorizonX’s first investment in a new company under its management by AE Industrial Partners, a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. AEI HorizonX was formed as Boeing’s corporate venture capital arm in 2017 and provides early-stage companies with access to resources and opportunities. AEI HorizonX chose Quincus as its first investment based on its ability to connect shippers, operators, and freight forwarders with an open operating system while reducing the industry’s overall carbon footprint.
This latest investment will be used for the expansion of Quincus’ global footprint with an emphasis on commercial growth in the US. Quincus provides the logistics industry with a machine-learning-enabled platform that optimizes and automates shipping operations.
“As logistics operators plan their future fleets – from traditional freighter aircraft to autonomous vehicles – Quincus is uniquely positioned to help their customers open and optimize completely new routes by leveraging novel cargo delivery vehicles,” said Beckett Jackson, a Director at AEI HorizonX. “With our deep experience in current and future air platforms, AEI HorizonX and Boeing will create a unique partnership with Quincus to explore the future of cargo delivery. We look forward to working closely with Jonathan and his entire team.”
“With the backing of AEI HorizonX, Quincus not only gains additional capital but greater access to the deep operational knowledge and industry relationships that Boeing and AE Industrial have built over many decades,” said Jonathan E. Savoir, Chief Executive Officer and Co-founder at Quincus. “AEI HorizonX, along with our existing Series B investors UP.Partners and GGV Capital, will provide an important strategic advantage as we look to expand our global footprint and invest in innovative platform and optimization offerings for our customers. We are excited about the future.”