Each week we round out travel startups that have recently received or announced funding. Email Sean O’Neill, Senior Travel Tech Editor at email@example.com If you have funding news.
This week, travel startups announced more than $ 24 million in funding.
>>Sherpa, Travel Tech startup, Venture raised Rs.5.5.5 million in equity funding.
Native Fund and True Ventures led the round. Riley Ventures, TSVC, Global Live Capital, N49P, Plug & Play Ventures, Golden Ventures, Stuart McDonald (founder of Expedia.com), LP Maurice (founder and CEO of Busbud) also invested.
Founded by CEO Max Tremine and Evan Sharco, the Toronto-based company currently focuses on helping travelers deal with the complexities of crossing borders during an epidemic. The company has raised a total of $ 9 million since its inception in 2015.
“In 2019, maintaining travel documents such as visas will cost airlines more than $ 1 billion, and new travel regulations will exacerbate the problem,” Tremain said. “By displaying the right information and making sure travelers need to cross borders, we make a meaningful difference for confidence in travel.”
Sherpa has recently partnered with Expedia, American Airlines, TripAuctions, Iceland Air and The Travel Corporation. These companies tap the startup’s data feeds to give travelers current information about travel restrictions at their destination. Tech allows travelers to add a visa application to their wagon when purchasing planes and streamlining the process.
“Until Sherpa, it was largely based on analog technology and the brick and mortar business,” said partner Jamie Wong Article treasure. Sherpa uses tools to detect changes in travel rules and translate the terminology into checklists.
>>Pay after Fly Now, A financial technology company focused on travel, raised another $ 14 million, bringing its Series A round to $ 62 million (£ 45 million) in equity, but mostly debt and investment.
Revenio Capital and Taurus Wealth Advisors assisted in this round.
CEO Jasper Dykes founded a London-based company in late 2015. This allows travelers to pay for the trip in 12 monthly installments. Hundreds of travel companies offer interest-free and interest-free consumer loans for start-ups, including Malaysian Airlines, Lastminot.com, Kayak and the Airline Payments Network Universal Air Travel Plan (UATP) for EU merchants.
Fly Now Pay Later is testing its technology in the US, where it faces some competition from players. Quote. The UK startup has over 70 team members in the UK and Europe.
>>Octict, A startup focused on the digitization of travel costs, has raised about $ 40,840,000 (€ 700,000) in seed round funding.
Enconda Smart Capital and Successful Ventures led the round.
Founded in late 2017, Asturias has developed a recognition engine capable of extracting data quickly from Spanish-based startup documents. It has an end-to-end travel cost management process for businesses and organizations and integrates with major company accounting systems. It said it has more than 70,000 customers in more than 3,000 companies in Spain and Portugal.
>>Aged, A booking brand for travel experiences, has raised an unknown amount of seed funds.
The Tech Venture Fund, run by Qatar Science and Technology Park, led the round.
Viawi is a Jordanian based online startup that aims to help travelers book travel experiences hosted by Qataris.
In a few months, Qatar’s FIFA will launch the Viavi Digital Itinerary Planner for the 2022 World Cup Tournament. Rola Fayad, Founder and CEO of Vayavi, said that many websites targeting visitors to Qatar for these sporting events will have an Itinerary Planner.
Elderly travelers are advised to take a cooking class, spend the night in the desert with a guided group, or book a heritage-themed walk.
>>Compah, A shining startup based in Seville, Spain, has raised 360 360,000 (€ 300,000) in one round, led by Encommanda Smart Capital.
Since its founding in 2016, Kampah has provided over 50,000 guests with a full range of tented vacation experiences in scenic locations.
>>Oasis Hunters, A travel startup that helps find the least visited rural areas for vacations, has raised more than 160,000 (5,000 135,000) angel investors for seed funding.
Founded in July 2020, the company is part of the Atikolab Startup Accelerator. These funds will allow it to expand across Spain from a focus on Catalonia.
>>Atravo, Tourism Management Platform, Venture Capital Think received 000 120,000 (, 000 100,000) financing through the Seed Capital Round led by Bigger Capital.
Atroo, led by CEO Katrina Affleck, assists tour operators, experienced and operational operators, and helps hotels manage their marketing campaigns and manage customer bookings. The team is derived from the Demium Startups Incubation Program.
Script cheat sheet:
We define a startup as an organization formed to test and build a recurring and scalable business model. Some companies have that definition. Venture capital is a rarity that often attracts. Their funding rounds come in waves.
Seed capital The money used to start the business, is often led by angel investors and friends or family.
Series A. Financing is usually taken from venture capitalists. Startup entrepreneurs aim this round to make sure their product customers really want to buy.
Series b Financing is primarily about venture capitalist firms, helping a company grow faster. These fundraising rounds help recruit skilled workers and develop cost-effective marketing.
Series c Financing is the process of helping a company expand through acquisitions. In addition to visas, hedge funds, investment banks and private equity firms are often involved.
Series d, E and beyond This round of primarily mature businesses and funding helps a company prepare to go public or earn. A variety of private investors can participate.
Photo credit: Malaysia Airlines delivers its first Airbus A350-XWB aircraft, shown here in a taxi. Malaysia Airlines is a business customer of Startup Fly Now Pay Later, and customers who wish to travel internationally can use Startup Sherpa’s tools to book visas to Malaysia. Airbus