Lowenstein Sandler represented Volantio, an Atlanta-based technology startup, in the successful completion of its $6 million Series A raise led by DiamondStream Partners, an aviation and aerospace venture capital firm, with participation from Alaska Airlines and follow-on investments from JetBlue Ventures, IAG, Amadeus Ventures, and Ingleside Investors. The company plans to use the capital to rapidly scale its global team and invest in product development.
Volantio's market-leading platform "GreenLeaf" uses machine learning to address optimization challenges for fixed-capacity industries, which today represent over $5.7 trillion in revenue globally. One strong use case for this type of technology lies within the aviation industry: GreenLeaf shifts demand from flights that are close to selling out to others with more space available — increasing revenue, lifting asset utilization, and improving the experience for both customers and front-line airline staff.
The company has more than tripled its customers in the last two years, and has recently expanded into the live events industry through a first-of-its-kind partnership with Disney Theatrical Group.
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