Singapore, Dubai – April 21st 2016 – AirGo Design Pte Ltd, the Singapore based startup working on next-generation airline seats, today announced its first external financing round, led by Dubai based DP World and Turn8.
With this funding, we are able to further accelerate our product development and go-to-market activities said Mikko Alanko, CEO & Co-Founder of AirGo Design.
TURN8’s Program Manager, Ahmed Abdulwahab said “We at TURN8 are really excited to work with AirGo Design’s innovative design and ground breaking technologies in an industry which we all regularly use, but which has seen very little real innovations in the past. With TURN8’s experience and network especially in the Middle East region, we are confident that together we make AirGo a great success here”
About AirGo Design Pte Ltd
AirGo is a Singapore based startup founded in 2013 with the aim of developing the next generation of airline economy seats. AirGo seats have been called the future of air travel by USA Today, NBC News, The Economist, ABC News, Daily Mail, etc. AirGo work on new design and composite materials technologies that can make the seats lighter and more comfortable. Recent estimates indicate a potential 50% reduction in weight as well as more living space for the passengers (e.g. 4″ extra legroom and ~12% wider seats for the same floor space).
TURN8 is an Accelerator in Dubai UAE, initiated in partnership with DP World in 2013 to invest in technology startups and support them with mentoring, training and their product launch in exchange for an equity position in the company. As part of its larger mission, TURN8 and DP World work to integrate these startups into the global innovation ecosystem and startup economy of the UAE.
About DP World
Their dedicated team of over 37,000 employees from 110 countries cultivates long standing relationships with governments, shipping lines, importers and exporters, communities, and many other important constituents of the global supply chain, to add value and provide quality services today and tomorrow. Container handling is the company’s core business and generates more than three quarters of its revenue. In 2015, DP World handled 61.7 million TEU (twenty- foot equivalent units) across our portfolio. With its committed pipeline of developments and expansions, the current gross capacity of 79.6 million TEU is expected to rise to more than 100 million TEU by 2020, in line with market demand. DP World is a leading enabler of global trade and an integral part of the supply chain. They operate multiple yet related businesses from marine and inland terminals, maritime services, logistics and ancillary services to technology driven trade solutions. They have a portfolio of 77 operating marine and inland terminals supported by over 50 related businesses in 40 countries across six continents with a significant presence in both high growth and mature markets. They aim to be essential to the bright future of global trade, ensuring everything we do has a long lasting positive impact on economies and society