This week, a climate risk technology company has raised more cash to develop its Weather Guarantee product, while Relay plans to put more of its delivery robots into hotels.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
This week, travel startups announced more than $61 million in funding.
>>Sensible Weather, a climate risk technology company, has raised $12 million in Series A funding.
San Francisco-based Infinity Ventures led the round, with participation from Certares Ventures, existing investors Wonder Ventures and Group1001, as well as executives from Airbnb, Pacaso, Plaid and Toast.
The startup offers a “Weather Guarantee” to consumers when booking holidays. If rain is forecast, Sensible Weather automatically sends a reimbursement, with payments based on the number of hours the experience is negatively impacted by weather.
It will now use the funding to recruit more engineering and scientific talent, accelerate development of its climate data and risk analytics platform, and expand its Weather Guarantee offering into international markets.
The Series A round brings the total financing to more than $20 million.
>>Mint House, a hospitality company that offers luxury apartments to business travelers, has raised $35 million in Series B financing.
Hotel and restaurant investor Mohari Hospitality led the round, with managing partner Allen Smith — a former CEO of Four Seasons Hotels & Resorts — now joining the board of Mint House.
The next-gen lodging startup, which operates 22 properties in the U.S., does not sign leases for its buildings, but instead manages the units under revenue-share agreements with building owners.
>>Relay Robotics, a company that provides delivery robots to hotels, has secured $10 million financing in Series A financing.
MK Capital led the round.
Brands including Marriott, Hilton, Westin, Mandarin Oriental, Holiday Inn and Radisson use Relay’s delivery robots at their hotels across the U.S.
The company said it can train and activate a robot within hours of arrival at a location, while customers can also name and over-brand each device.
Hashed Emergent Fund and several angel investors led the round. The startup will use the capital to invest in product and technology.
|Mint House||Series B||Mohari Hospitality||$35 million|
|Sensible Weather||Series A||Infinity Ventures||$12 million|
|Relay Robotics||Series A||MK Capital||$10 million|
|TravClan||Pre-Series A||Hashed Emergent Fund||$4.7 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: Climate data and risk analytics platform Sensible Weather will expand into international markets. Joey Huang / Unsplash