The air cargo industry, long regarded as slow to adopt technological innovations, is finally stepping into the spotlight of the tech startup scene. At the prestigious FutureTravel 2024 technology conference, Belli, a software company developing advanced cargo management systems (CMS) for airlines, clinched the €330k grand prize.

Belli, founded by Jeff Pan and Alex Khor, is the first venture-capital-backed CMS platform tailored exclusively for the air cargo industry. This achievement places it alongside established players like Cargo One and WebCargo, which have also garnered significant venture funding. The company’s win at FutureTravel 2024 reflects the growing recognition of air cargo as an untapped market ripe for disruption.

An industry stuck in the past

For decades, the air cargo sector has relied on outdated legacy systems plagued by inefficiencies, manual processes, and limited integration capabilities. Belli aims to change that. During their presentation, Pan and Khor highlighted how their end-to-end software modernises cargo operations by automating terminal processes, providing real-time data insights, and replacing antiquated systems.

“Our software is designed to empower airlines with the tools they need to thrive in a digital world,” Pan said. “We automate manual processes, streamline operations, and, most importantly, help airlines unlock significant revenue opportunities.”

The pitch resonated deeply with the audience and judges, offering a clear picture of how Belli’s innovative approach addresses critical pain points in the industry. From API integrations that previously took months to implement to creating a more transparent and efficient system for managing cargo, Belli’s software is positioned as a game-changer.

Deep industry insights

One of Belli’s distinguishing factors is its leadership. Founders Jeff Pan and Alex Khor bring a rare combination of consulting and technical expertise. Both are former consultants—Pan from McKinsey and Khor from Accenture—and have led engineering teams at tech powerhouses like Booking, SpaceX, and Teleport (AirAsia’s cargo arm). This blend of strategic insight and technical prowess has enabled Belli to stand out in a competitive space.

During the pitch, Suzanna Chiu, Head of Amadeus Ventures, posed a critical question: “Why would an airline choose you over the existing cargo software vendors?” Pan’s response was both compelling and candid: “Our team is unusual in that we’re ex-consultants who also have experience running an airline’s cargo tech team and software engineering expertise. Every airline we ever sit down with usually learns something new within the first hour. My biggest frustration when working with cargo software vendors was that simple things like setting up an API were months long ordeals.”

This answer underscored Belli’s value proposition: not just better software, but better collaboration, tailored insights, and an agile approach that traditional vendors lack.

US$146 billion blind spot

Pan’s presentation also called attention to a glaring oversight in the aviation industry: the neglect of cargo by major airline technology vendors. He pointed out that Amadeus, a leading provider of passenger technology with over 19,000 employees, has zero staff dedicated to cargo, despite the segment generating $146 billion annually for airlines.

“This is a blind spot,” Pan said. “Cargo is a massive market, yet it’s largely ignored by the major players. That’s the gap we’re here to fill.”

The data-backed argument not only highlighted the opportunity but also underscored the critical need for specialised solutions tailored to cargo operations.

Judges and industry reception

The FutureTravel 2024 pitch competition featured a panel of esteemed venture capitalists who were unanimous in their praise of Belli’s innovative approach. The panel’s decision to award Belli the €330k grand prize reflects growing investor confidence in the potential of air cargo technology startups to deliver high returns.

The win is not just a validation of Belli’s business model but also an acknowledgment of the air cargo sector’s broader need for modernisation. Industry leaders in attendance remarked on the transformative potential of Belli’s solutions, with some calling it a pivotal moment for the sector.

Shaping the future of  air cargo

Belli’s victory at FutureTravel 2024 is more than just a milestone for the company—it’s a wake-up call for the air cargo industry. With e-commerce driving unprecedented growth in global shipping volumes, airlines are under immense pressure to optimise their cargo operations. Belli’s software promises to do just that by introducing the efficiency, transparency, and scalability that airlines desperately need.

As venture capital continues to pour into air cargo technology, Belli is well-positioned to lead the charge. With the €330k prize, the company plans to accelerate its product development and expand its market presence, bringing its vision of a smarter, more efficient cargo industry closer to reality.

“Air cargo is finally taking off in the tech world,” Pan concluded. “And with Belli, we’re not just riding the wave—we’re shaping it.”