SkySelect Raises $9M to Advance AI-Powered Aircraft Parts Procurement Platform
SkySelect, an Estonia-founded aviation technology startup developing an AI-powered procurement platform for aircraft parts, has raised $9 million in a new funding round aimed at modernizing how airlines and maintenance providers source critical components.
The round was co-led by Verb Ventures and RockCreek, with participation from SmartCap Green Fund, supported by the European Union’s NextGenerationEU program, alongside existing investors Bain Capital Ventures and Lux Capital.
The newly raised capital will support the expansion of SkySelect’s AI-driven sourcing technology and strengthen procurement optimization tools used by airlines and maintenance, repair, and overhaul (MRO) organizations worldwide.
Tackling a $50 Billion Aviation Supply Chain Challenge
The aviation industry continues to face inefficient procurement systems, often leaving airlines with large inventories of spare parts while still experiencing operational shortages.
Globally, airlines hold nearly $50 billion in excess aircraft parts inventory, yet aircraft are frequently grounded due to missing components. These Aircraft on Ground (AOG) incidents—where planes cannot operate because parts are unavailable—cost the aviation industry roughly $30 billion annually.
At the same time, airlines spend over $40 billion every year purchasing aircraft components, highlighting the scale of inefficiencies across procurement processes.
SkySelect aims to address this imbalance by applying specialized artificial intelligence to the sourcing process, enabling airlines to identify optimal suppliers across a global vendor network in real time.
AI Matching Suppliers with Aircraft Parts Demand
Unlike general-purpose AI systems, SkySelect’s platform uses specialized algorithms designed specifically for aviation procurement.
The platform evaluates supply availability, pricing, delivery timelines, and vendor reliability, matching aircraft parts requests with the most suitable suppliers from thousands of vendors worldwide.
By delivering real-time market visibility, the system enables airlines and MRO organizations to adopt just-in-time procurement models, reducing spare parts stockpiling while improving operational resilience.
Advances in procurement technology can also reduce shipment volumes by up to 30%, lowering logistics costs and cutting carbon emissions associated with emergency part deliveries.
Processing Billions in Aviation Transactions
Since launching its platform, SkySelect has processed more than $6 billion in procurement transactions, including around $1.3 billion in 2025 alone.
The company continues to grow its customer base, onboarding major aviation clients such as JetBlue, Sun Country Airlines, Air Transport Services Group, Widerøe, and Vueling.
To streamline procurement workflows, the platform integrates directly with enterprise resource planning (ERP) systems used by airlines and maintenance organizations.
Expanding AI Development and Global Operations
The $9 million investment will help SkySelect accelerate product development and expand teams across the United States, India, and Estonia.
The company plans to recruit additional talent in product engineering, data science, and customer success, as demand for AI-driven aviation supply chain solutions continues to rise globally.
