MLC Ventures Invests in Pelicargo, an Online Air Cargo Booking Platform

MLC Ventures Co., Ltd. (Headquarters: Chuo-ku, Tokyo; Representative Director: Yuko Okuya) announces that its managed fund, MLC Innovation No.1 Investment Limited Partnership, has invested in Pelicargo Inc. (Headquarters: U.S.; CEO: Jonathan Acquaviva), a provider of an online air cargo booking platform for U.S. freight forwarders.

This investment is part of Pelicargo’s recently completed Seed II funding round.

About Pelicargo

Pelicargo is a startup that provides an online platform for booking air cargo shipments.

In the air cargo industry, it has traditionally been difficult to compare freight rates and available capacity across different airlines. Booking operations still largely rely on phone calls and emails, making it challenging to quickly secure optimal transportation solutions.

Pelicargo addresses this by offering a platform that enables real-time comparison of rates and shipping conditions across multiple airlines, allowing freight forwarders to manage the entire process—from quotation and booking to shipment execution—centrally and online, thereby improving operational efficiency and enabling faster cargo arrangements.

Investment Rationale

While global logistics demand continues to grow, air cargo booking processes still heavily depend on phone and email for tasks such as obtaining quotes and securing space, leaving significant room for operational improvement.

Pelicargo provides a platform that enables real-time comparison of air cargo rates and shipping terms, streamlining the booking process. This not only enhances freight forwarders’ ability to arrange shipments efficiently but also helps airlines better utilize available capacity and streamline quote handling and booking operations.

We believe Pelicargo’s platform, which improves efficiency and convenience for both airlines and forwarders, has the potential to become a foundational element in advancing digitalization within the air cargo sector. Furthermore, by leveraging our group’s domestic and international logistics networks and business infrastructure—and potentially collaborating with our U.S. subsidiary—we anticipate contributing to the enhancement of international logistics services and the strengthening of global logistics operations.

Overview of the Investee Company

Company Name: Pelicargo Inc.

Headquarters: United States

Representative: CEO Jonathan Acquaviva

Founded: 2021

Business: Platform supporting quotation and booking operations for air cargo transportation

Website: https://www.pelicargo.com/

About MLC Ventures Co., Ltd.

MLC Ventures is the venture capital arm of the Mitsubishi Warehouse Group.

By leveraging the group’s warehouse and logistics networks and real estate assets, MLC Ventures collaborates with startups to create new value, contributing to the social value and sustainability of the logistics and real estate industries.

Company Overview

Company Name: MLC Ventures Co., Ltd.

Headquarters: 1-19-1 Nihonbashi, Chuo-ku, Tokyo

Representative: Representative Director Yuko Okuya

Established: April 24, 2023

URL: https://mlc-ventures.co.jp

Business: Venture capital operations

MLC Innovation No.1 Investment Limited Partnership

General Partners: MLC Ventures Co., Ltd., Yuu Capital Partners Co., Ltd.

Limited Partner: Mitsubishi Warehouse Co., Ltd.

Established: June 20, 2023

Total Fund Size: 5 billion JPY

Media Contact

MLC Ventures Co., Ltd. Public Relations Email: [email protected]