This week, Germany's Raus topped up its investment to attract more city dwellers and nature enthusiasts to its cabin getaways, while Mondee secured $20 million as it gears up to go public.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Senior Travel Tech Editor Tim Mullaney at [email protected] if you have funding news.
This week, travel startups announced more than $23,765,000 million in funding.
>>Raus, a hospitality-tech company that offers nature-themed escapes to bespoke cabins, has announced a funding total of $3.37 million to date.
Investors include NFQ Capital, Rivus Capital, Roadsurfer and Founderment, along with the founders of ArchDaily, FINN.auto, helpling, HomeToGo, lieferando, planetly, TIER Mobility and Zazume. Speedinvest and additional existing investors have also again strengthened their commitment in the company.
The extra capital will help Raus invest in product development, proprietary technologies and expand across Germany.
>>Mondee, a travel technology firm, has raised $20 million in private investment in public equity, or PIPE, ahead of its listing on the Nasdaq exchange.
Elliott Management and Siris Capital — the institutional investors who happen to be owners of another travel technology firm, Travelport — are reportedly among the investors.
See Skift’s reporting on the deal.
>>Trending Travel, a social media-based travel agency that uses Instagram, TikTok and Facebook to generate bookings, has raised a total of $395,000 so far. Proceeds will be used for key appointments within media and product areas of its business, technology development, and marketing to grow its following across social channels.
|Mondee||PIPE||Elliott Management/Siris Capital||$20 million|
|Raus||Series B||NFQ Capital/Speedinvest||$3.37 million|
Skift Cheat Sheet
Seed capital is money used to start a business, often led by angel investors and friends or family.
Series A financing is typically drawn from venture capitalists. The round aims to help a startup’s founders make sure that their product is something that customers truly want to buy.
Series B financing is mainly about venture capitalist firms helping a company grow faster. These fundraising rounds can assist in recruiting skilled workers and developing cost-effective marketing.
Series C financing is ordinarily about helping a company expand, such as through acquisitions. In addition to VCs, hedge funds, investment banks, and private equity firms often participate.
Series D, E, and, beyond These mainly mature businesses and the funding round may help a company prepare to go public or be acquired. A variety of types of private investors might participate.
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Photo credit: Raus offers getaways to cabins in surroundings located close to major cities. Noel Richter / Raus