Overview
Skyselect, an Estonian-founded AI-powered procurement platform, has raised $9 million to transform how airlines source aircraft parts. The funding addresses the inefficiencies in outdated procurement systems that contribute to $50 billion in excess inventory and $30 billion in costs from grounded aircraft. Co-led by Verb Ventures and RockCreek, the investment will enhance Skyselect's AI sourcing tools and support its rapid growth, processing over $6 billion in transactions since launch.
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Investors: Verb Ventures, RockCreek
Skyselect, an Estonian-founded AI-powered procurement platform, has raised $9 million to transform how airlines source aircraft parts. The funding addresses the inefficiencies in outdated procurement systems that contribute to $50 billion in excess inventory and $30 billion in costs from grounded aircraft. Co-led by Verb Ventures and RockCreek, the investment will enhance Skyselect's AI sourcing tools and support its rapid growth, processing over $6 billion in transactions since launch.