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Take and change
– Justin Dawes
Four travel tech startups raised $29 million in venture capital this week.
>>BachA planning and booking platform for bachelor parties has raised $9 million in Series A funding. It was led by Pritzker Group Venture Capital with participation from Corazon Capital, Freestyle VC, Oversubscribed Ventures and others.
The app facilitates the search and booking of local experiences and includes features designed to make group travel easier, including group chat, expense sharing, selection and itinerary planning.
The Philadelphia-based company currently hosts parties in a dozen US cities, including Nashville, Las Vegas, Miami and New Orleans, and plans to have 30 cities in its portfolio in the coming weeks.
The company now has more than 1,600 writable experiences on its platform and plans to increase that number to 3,000 this year.
The startup has facilitated nearly 500,000 parties and says it is on track to facilitate one in five traveling bachelorette parties in the US this year.
The company said it has quadrupled revenue growth in 2022 compared to last year.
“Millennium travel is a huge opportunity, and the future of travel, especially group travel, is changing rapidly,” said Sonia Nagar, a venture capital partner at the Pritzker Group. Statement. Although group travel is worth 200 billion Despite the dollar market, consumers are in most cases a challenge to co-ordinate. Not only has Bach established himself as a market leader and bachelor’s permanent owner, but in doing so, he is building the foundation for a wider opening of group travel.
Bach has launched as an app alone, but there will be a booking website next month.
>>Country peopleThe short-term rental platform founded by Airbnb veterans has raised $4 million (€3.8 million) in seed funding from Seed Capital.
The startup’s portfolio has grown to more than 1,000 homes and cottages in Denmark, Norway and Germany since it was founded two years ago. The plan is to double that number this year.
Landfolk was founded by seven people in Denmark, all former Airbnb employees.
To maintain consistently high standards, only 60 percent of homeowner applicants are accepted.
Landfolk said that 70 percent of the homes on the platform are rented or not rented on other platforms, indicating that the startup has found a gap in the market in the area.
“It’s exciting to see Landfolk shaking up a long-standing industry. In two years, they were able to create a company with a remarkable transformation, among other things, by expanding the market to a segment that had never rented their vacation home before, and to a group that could execute as a minority,” said Ula. Seed Capital Management partner Brockenhus-Shack said in a statement.
The investment will enable easier communication with homeowners and travelers to develop the product.
>>MachineThe Saudi Arabia-based flight booking platform has raised $8 million (30 million Saudi riyals) led by Shadadi Information Technology Company.
In addition to the booking platform, the company also provides software platforms that help tourism companies manage operations.
The company was founded in 2018 by Abdulaziz Al Harti.
>>Experiences of the captainA booking platform for fishing charters and other outdoor sports guides has raised $2 million. The round was led by Bullish and included participation from other new and existing investors.
The Texas-based startup was founded in 2015. Since it was founded in 2020, it has partnered with over 1,200 certified guides and has logged over 47,000 hours of outdoor experience.
The money will go toward growth in the fishing charter industry across the U.S. and beyond, with plans to expand hunting guides that began last fall in Texas.
>>Drive the worldBooking for travelers with disabilities has raised $6 million in pre-Series A funding led by Kayak Ventures. (See Skift’s story.)
>>Tryp.comA startup booking platform based in Denmark has raised seed from largely unknown individual investors. The startup said the round values the company at 8.3 million euros ($8.8 million).
| Company | Level | led | Grow up |
|---|---|---|---|
| Bach | Series A | Pritzker Group Venture Capital | 9 million dollars |
| Country people | Seed | seed capital | 4 million dollars |
| Machine | Seed | Shadadi Information Technology Company | 8 million dollars |
| Experiences of the captain | Not specified. | A bully | 2 million dollars |
| Drive the world | Pre-series A | Kayak Ventures | 6 million dollars |
Skift cheat sheet
Seed capital is money used to start a business, usually led by angel investors and friends or family.
Series A Financing is typically sourced from venture capitalists. The purpose of the round is to help startup founders prove that their product is something their customers really want to buy.
Series B Finance is primarily for venture capitalist firms helping a company grow rapidly. These fundraising rounds help recruit skilled workers and develop cost-effective marketing.
Series C Financing is typically about helping a company expand, for example through acquisitions. In addition to VCs, hedge funds, investment banks and private equity firms are often involved.
Series D, E and beyond These are primarily mature businesses and the funding can help a company prepare to go public or be acquired. Different types of private investors can participate.
Photo Credit: Through the Bach app, travelers can book a tour through the French Quarter in New Orleans.
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