Cosi Raises $23 Million for Its European Rental Brand: Travel Startup Funding This Week

This week, travel startups announced more than $30 million in funding. >>Cosi, a short-term rental brand in Europe, has raised approximately $23.7 million (€20 million) in a funding round. Soravia, a Vienna-based real estate group, joined as an investor with this round. Other investors taking part include Cherry Ventures, e.ventures, Kreos Capital, and Bremke. Cosi operates serviced apartments and develops technology solutions for the real estate industry to automate operational processes. The startup has around 750 units under contract, with 1,500 more flats under negotiation. Despite the pandemic, the group recorded a booking occupancy rate of up to 90 percent at its units. Christian Gaiser, CEO and co-founder of Cosi, grew up in a hotelier family but has been a digital professional. He co-developed the digital shopping prospectus Kaufda, which Axel Springer later bought. Gaiser's ambition is to create one of the world's largest hotel chains. Like its U.S. counterpart Sonder and Mexican counterpart Casai, Cosi is a blend of hotel and vacation rental. Its furnishings strive to be high quality, but it doesn't offer on-premise any of the full-service amenit