Travel seed funding this week – Skift

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Each week, we bring together travel startups that have recently received or announced funding. Please email Sean O’Neill, Travel Technology Editor-in-Chief, at [email protected] if you have any news about the funding.

This week, travel industry startups announced more than $ 1.7 billion in funding.

>>Yanolja, a South Korean-based travel startup, received a $ 1.7 billion investment from SoftBank Group’s Vision Fund 2. See the story of Skift.

>>Reserve, which connects land and ocean transportation reservation platforms, has secured $ 35 million in Series B funding.

The Tel Aviv-based startup, founded four years ago, has already raised $ 11 million in funding. Israeli investor Aleph has been a key funder since 2019.

The startup founded the Bookaway Group, which aims to “bridge the gap between travelers and local transport providers.” The group plans to help travelers find and book transportation options around the world.

Bookaway Group has signed Getbybus and 12Go, which together provide thousands of transit routes in the Balkans, Western Europe and Southeast Asia.

“Currently 95% of the ground transportation industry is offline,” said Noam Toister, CEO and Founder of Bookaway. “Our mission is to make travel by bus, train or ferry an effortless booking experience. “

>>Mosh event, a Chinese digital marketing operator that targets cultural tourism in China, has secured an unspecified ‘pre-series B’ funding round worth more than $ 1.5 million).

Founded in 2013, the startup provides cloud-based software services to support the marketing of cultural tourism brands and destinations through channels such as Douyin and WeChat. China Travel News first reported the funding.

>>Bimble, a mobile app for discovering, saving and sharing destinations, attractions and other “great little places” raised initial funding of $ 2.48 million.

Dimitris Panagopoulos, one of the first backers of Net-a-Porter, led the investment round. Other participating angel investors included Vikram Kumar of Kuvari Partners and Betfair co-founder Mark Davies.

“Our mission at Bimble is to make it easier for people to go out and enjoy the restaurants, bars, bakeries, shops, yoga studios, etc., which give local communities their unique personalities,” said Francesca Howland, co- founder and CEO of Bimble.

The Oxford, England-based company was launched during the pandemic and said it has more than 75,000 users in the United States and Britain.

Many startups have tried to develop “social travel apps,” but the category has struggled. Bimble differs from most previous attempts in that it mimicked Spotify’s music format. The app provides “place playlists” that allow users to create and share collections of places worth visiting based on mood, gender or thematic interest.

>>Stayflexi, a provider of software services for vacation rental property managers and hotel managers, has received $ 1.6 million in investments from investors such as Y Combinator, Agya Ventures, BlueField Capital, Asymmetry Ventures and Good New Ventures.

The company, founded in 2018, provides tools for sales, marketing, and operational functions such as contactless check-in, upselling and payments. Co-founder and CEO Venkatesh Sakamuri heads the startup.

>>Pleo, a Danish fintech startup, raised $ 150 million last week in a round co-led by Bain Capital Ventures and Thrive Capital. While not a travel startup, Skift this week covered Pleo’s relevance to the travel industry.

Skift cheat sheet:
We define a startup as a company formed to test and build a repeatable and scalable business model. Few companies meet this definition. The few that often attract venture capital. Their round tables come in waves.

Seed capital is the money used to start a business, often run by angel investors and friends or family.

Series A funding usually comes from venture capital firms. The cycle aims to help the founders of a startup make sure that their product is something that customers really want to buy.

B series funding is primarily for venture capital firms that help a business grow faster. These rounds of funding can help recruit skilled workers and develop profitable marketing.

C series financing is usually about helping a business grow, for example through acquisitions. In addition to VCs, hedge funds, investment banks and private equity firms often participate.

D series, E and beyond These predominantly mature companies and the round table can help a company prepare to go public or be bought out. Various types of private investors could participate.

Photo Credit: The Seatran Discovery is a ferry that serves routes in Thailand, including between Koh Samui Island and Surat Thani Airport. Seats can be reserved through the 12go service, which is now part of the Bookaway group. 12go



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