skift take
Travel startups raised $689 million in two weeks in mid-April, but only $29 million in the following two weeks.
— Justin Dawes
Travel tech funding has been active in recent weeks, but has slowed down a bit recently. Only a handful of travel startups have announced new funding in the past two weeks, and they're all relatively small.
This comes after a total of $689 million was raised in the previous two weeks, with $358 million raised in one week, making it the second-best week for fundraising in 2024, followed by a total It was the third-best week with $331 million.
Four travel startups have announced more than $29 million in total funding in the past two weeks.
Charge zone: $19 million
Charge Zone, which is developing a network of chargers for electric cars, buses and trucks, has raised $19 million in venture capital.
The round was led by British International Investment.
The company raised $54 million in Series A1 funding last year.
The India-based company said it plans to install 1,500 Supercharger stations in India in the next 18 months and at least 10,000 charging stations by 2027. The company is also considering expansion into the United States and the Middle East.
The charging network is paired with an app that allows users to manage their sessions and pay without cash.
Customers include Hyundai, Mahindra & Mahindra, Tata Motors, and hotel companies Marriott and Hyatt.
Turbi: $8.5 million
Brazilian car rental startup Turbi has raised $8.5 million, co-founder Daniel Prado has confirmed.
The round was led by Domo.vc and supported by Reag Investimentos and Carbyne Investimentos.
The Turbi platform allows users to book rental cars online and have their vehicles delivered and picked up. You can rent it for hours, days, or longer through subscription plans.
Earlier this year, the company raised $16.4 million to expand its fleet by 1,000 vehicles.
Finch Mobility: $1.1 million
Fynch Mobility has raised $1.1 million (€1 million) in seed funding to make sustainable business travel the new normal.
Funding comes from a group of angel investors and government grants.
Utrecht-based Finch Mobility said its platform allows employers to measure the carbon footprint associated with business travel, and rewards employees who choose more sustainable options. Ta. Businesses can also use the app to reimburse employees for travel expenses, and it integrates with some back-office business software.
The startup has a “long-term partnership” with Alphabet Lease, a European car leasing company owned by the BMW Group. Other clients include the Netherlands Directorate General for Public Works and Water Management, BCD Travel, Censo Energy Services, parking company Q-Park, Volvo Group Netherlands and BMW Netherlands.
All My Tour: $738,000
Hotel booking platform Allmytour has raised nearly $738,000 (1 billion Korean won), according to a South Korean publication covering startup news.
The pre-Series A bridge round will be provided by Shinhan Venture Investment and Korea Investment Accelerator ahead of the Series A round scheduled for next year.
South Korea-based Allmytour offers a subscription program that allows users to book hotels around the world without markups or fees.
CompanyStageLeadRaiseCharge Zone unspecified UK International Investment $19 million Turbi unspecified Domo.vc $8.5 million Fynch MobilitySeed undisclosed $1.1 million Allmytour Pre-Series A Bridge Shinhan Venture Investment and Korean Investment Accelerator $738,000
Skift cheat sheet
Seed capital is the money used to start a business, often led by angel investors, friends, and family.
Series A funding typically comes from venture capitalists. The round is aimed at helping startup founders make sure their product is something customers actually want to buy.
Series B funding is primarily aimed at venture capitalist firms to help companies grow faster. These funding rounds will help recruit skilled labor and develop cost-effective marketing.
Series C financing is typically aimed at supporting a company's expansion, such as through acquisition. In addition to VCs, hedge funds, investment banks, and private equity firms often participate.
Series D, E, and Beyond These primarily mature business and financing rounds can help companies prepare to go public or be acquired. Different types of retail investors may participate.
Photo credit: Travel startups have raised about $29 million in the past two weeks.
