Visibility is now paramount in the supply chain, but mostly on the ground. FourKites looks to tap into the airfreight industry, providing detailed visibility for air cargo shipments including artificial-intelligence-powered estimated arrival times.
- Shipping via air has been estimated to cost 4-5X that of road transport, and as much as 16X that of ocean, but it is indispensable for shippers’ most critical and/or time-sensitive freight, including pharmaceuticals and medical supplies, perishable agricultural and seafood products, emergency shipments of spare parts or simply goods for which customers demand the fastest delivery. In addition, brands are increasingly turning to air cargo to expedite freight as inventory delays continue to plague supply chains.
FourKites saw 97% growth in air loads tracked from 2020 to 2021. The platform now supports over 100 airlines and 17,000 airports, and has seen 40% growth quarter over quarter.