Travel seed funding this week

Skift take

This week, several startups of interest in the travel industry announced funding of more than $ 170 million.

Sean O’Neill

This week, travel industry startups announced more than $ 170 million in funding.

>>Hotel engine, a business travel startup that focuses on managing hotel reservations, raised $ 65 million in a funding round.

Telescope Partners led the round at the Denver-based company.

The company offers personalized hotel reservation and management tools that promise control, transparency, billing and business support, as well as discounted rates at up to 700,000 properties.

CEO Elia Wallen founded the startup in 2015. The company is now valued at over $ 1.3 billion.

>>House of Life, a New York-based hotel and software company, closed a $ 60 million funding round.

Kayak, the price comparison brand owned by Booking Holdings, co-led the Series C fundraising round with iNovia. Tiger Global, Thayer Ventures, JLL, Trinity Ventures and Sound Ventures also participated. The New York-based startup has raised around $ 100 million to date.

Learn more by reading Skift’s coverage of Kayak’s investment in Life House.

>>Big Small, a company that fuses the cottage trend with eco-tourism, has raised $ 3 million (A $ 4.2 million) in seed funding.

Participating angel investors included Koh Boon Hwee, Phillip Private Equity, GPPC Capital Limited and Ascend Angels.

The company prefabricates the modular homes, assembles the mini-homes, and then works with the host landowners to operate them as tourism deals. He plans to open around 300 mini-homes in Australia and New Zealand next year.

>>YouTrip, an online bank specializing in multi-currency services, raised a $ 30 million Series A.

The Singaporean startup offers a multi-currency travel wallet that is linked to prepaid cards often through the MasterCard banking network. The digital wallet allows users to pay for goods abroad in over 150 currencies with no hidden charges and, it claims, at wholesale exchange rates. YouTrip recently introduced a corporate card.

>>Elenium automation, a self-service technology maker, has raised $ 7 million (AU $ 10 million) in growth capital.

Many airports use Elenium’s kiosks to help screen and process passengers. The new funding will help the startup apply the same technology to other verticals, such as healthcare and government infrastructure.

>>Lodgea, a Munich-based travel technology company, has closed an unspecified start-up investment. Media group Müller Medien and DTM Deutsche Tele Medien have taken undisclosed stakes in the startup.

The startup’s software allows marketers to set up direct booking and marketing engines for hotels and vacation rentals through a subscription model. The two new investors said they would help promote Lodgea’s services to small and medium-sized businesses in their networks.

>>Airxelerate, a Berlin-based travel technology startup, received an undisclosed amount of investment from Schauinsland-Reisen, a German tour operator.

The startup offers a cloud-based distribution platform for airlines that promises to allow direct connection to tourism partners and business-to-business customers. The tour operator uses the startup’s tools.

>>Riparide, a travel accommodation reservation brand, has raised around $ 2.8 million (AU $ 4 million) in seed funding. Macdoch Ventures and Upswell Ventures led the round.

The Melbourne-based startup helps people find vacation accommodation, such as caravans, yurts and vacation homes.

>>Waug, a Seoul-based startup that provides an app-based travel activity booking service, has closed an approximately $ 9 million funding round as a bridge to its Series C, Platum reported. The company has raised more than $ 25 million to date.

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 fundraisers can help recruit skilled workers and develop profitable marketing.

C series financing usually involves 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.

About Brad S. Fulton

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