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Take and change
– Justin Dawes
Three travel tech startups raised $23.5 million this week.
>>RomeThe vacation rental platform has raised $14 million in Series A funding and rebranded from its previous name, Sextant Stages. The round was led by Vigo Capital.
Miami-based Romy operates more than 500 rooms in South Florida and New Orleans, all designed for group travel. The company manages not only certain floors or rooms in different buildings, but all the buildings that contain these rooms.
The money will go towards expansion in domestic markets and beyond.
Romy has grown 800 percent in the past three years and has revenue of more than $40 million by 2022, the company said.
Two of the startup’s founders, Brandret Canaley and Iskander Karimov, were featured in the 2022 Forbes 30 Under 30 list for consumer technology. The startup was named one of the fastest growing companies in 2022 by Inc. It got number 442 out of 5000.
Vigo Capital’s Kirill Vinogradov said: “The company’s steady growth since 2020 proves that they understand exactly how to satisfy the needs of the modern Romer, despite the changing external conditions, and we look forward to seeing their continued growth and expansion.”
>>EveraThe electric vehicle taxi service provider has raised $7 million in two tranches of pre-Series A funding. It was initially led by IEG Investment Banking Group, followed by Devonshire Capital’s subsidiary Direct Capital and Westva Global.
The New Delhi-based startup operates over 230 taxis at Terminal 3 of New Delhi Airport. The startup plans to hire about 2,000 more by the end of the year, as it plans to expand its business.
>>Dorothy Aerospace Over 1,000 people raised nearly $2.5 million in a crowdfunding campaign on StarEngine. The company was valued at $158.8 million during the campaign.
Florida-based Doroni is developing an electric takeoff and landing aircraft intended for public sale.
“We’re building what we believe will be the family car of the future that will revolutionize the way we live, travel and, if scaled right, build cities,” the company said on its crowdfunding page. “At a time when the industry is getting commercial air taxi operations off the ground, Doroni aims to disrupt the personal mobility market because we believe private e-cars – not commercial air taxis – are the future of transportation.”
The company said it has partnered to accelerate production by developing its technology components; It plans to complete a flight prototype in the coming months.
>>Whiskey, a booking platform for skiers and snowboarders, paid an undisclosed amount from Rock Ventures. (See Skift’s story.)
| Company | Level | led | Grow up |
|---|---|---|---|
| Rome | Series A | Vigo Capital | 14 million dollars |
| Evera | Pre-series | IEG Investment Bank, Direct Capital, Westova Global | 7 million dollars |
| Dorothy Aerospace | spend a lot of money | spend a lot of money | 2.5 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: Romi manages entire buildings rather than individual units.
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