AeroParts Now, The Future of Aviation Parts Management, Closes $3M Financing Round
Company announces strategic partnership and funding to enhance services, accelerate growth
Birmingham, Michigan--(BUSINESS WIRE)--AeroParts Now, the future of aviation parts management, today announced that it has closed a $3 million financing round led by String Ventures and Simon Group Holdings. The company will use the new funding to better serve its customers, accelerate growth, and expand its sales, eCommerce and marketplace enablement SaaS (Software as a Service) products built to help the aviation industry access and manage after-market parts. The company also announced that Dilip Dubey, Chief Mentor at String Ventures, will join its Board of Directors as Executive Chairman.
“AeroParts Now is setting the industry standard with its innovative aviation parts management solutions that help aircraft companies manage sales, eCommerce, and fulfillment efficiently. There’s a huge technology gap between suppliers and those looking to purchase parts and we’re prepared to provide our clients the best solution to address it,” said Sam Simon, Founder, and Chairman of Simon Group Holdings and a longtime investor in Aero Parts Now. “We’re thrilled to join forces with String Ventures who bring a deep AI and software expertise, as well as experience in transforming supply chain, marketplace, and SaaS startups into market-leading platforms. This capital injection will help build and scale AeroParts Now for the future.”
“AeroParts Now is an exciting opportunity to bring innovative AI-driven solutions to the aviation industry,” said Dilip Dubey, Chief Mentor at String Ventures. “We’re confident that AeroParts Now has the technology, leadership, vision, and expertise to help customers grow sustainably, innovate, and efficiently manage their customer’s parts business as we enter the next era of the aviation industry.”
About AeroParts Now
APN is the future of aviation parts management. Founded in 2018, AeroParts Now provides an all-in-one toolkit to grow the aircraft parts business. It is the first purpose-built eCommerce solution for aviation part sellers. Designed from the ground up to accelerate the parts sales cycle, AeroParts Now helps aerospace parts sellers reach their target markets, achieve business objectives, and reduce excess inventory. The company is based in Birmingham, Michigan and is funded by String Ventures, Simon Group Holdings, and many successful founders, among others. To learn more, visit www.aeropartsnow.com
About String Ventures
String Ventures is a Michigan-based global investment firm founded on the principle of using AI and exponential technology to not only provide financial capital but transformative AI & tech capabilities to firms. String Ventures is poised to not only create massive returns but also bring significant positive change to the world. String Ventures’ portfolio of companies is helping defeat the coronavirus pandemic, improve human health, enable precision learning, access space, democratize commerce, and create a hyper-innovation ecosystem. For more information, please visit www.stringventures.ai
About Simon Group Holdings
Simon Group Holdings (SGH) was created in 1985 with the founding of Atlas Oil Company by Sam Simon. SGH has 70 companies and numerous direct investments, 3,000 customers and 700 employees. Its growth is fueled through digital disruption and by investing in operationally experienced entrepreneurs who have a vision and hunger to reinvent their respective industries. SGH has interests in comprehensive energy solutions, fuel supply, oil field services, logistics and transportation, real estate, private equity, technology services, aerospace and defense, and turnkey modular solutions. For more information, please visit www.simongroupholdings.com
