Nezasa wants to make life easier for travel operators, and Electra is designing a plane to take off from a 150-foot runway.
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.
Three travel tech startups have announced more than $4 million in funding this week.
>>Nezasa, a software platform for tour operations, has raised $4.7 million. Investors included Alpana Ventures, Liquid Partners, Credit Suisse, and Zürcher Kantonalbank, and others.
The startup has raised a total of $17.3 million, according to Crunchbase.
The Switzerland-based company said its platform automates the planning, booking, and management of multi-stage tours.
“In addition to being the engine room that transforms itinerary suggestions from various sources (including, but not limited to ChatGPT) into bookable and manageable trips, we are also working on leveraging our AI to tackle one of the biggest unsolved challenges in travel technology: Solving disruption during the trip. We want to provide the technology that reduces friction along the whole journey, from the planning through the booking to fixing issues that arise during the trip on the fly,” said Manuel Hilty, CEO and founder of Nezasa, in a statement.
Nezasa last year acquired flight itinerary optimizer TripYeah, which the company said expanded its market presence in Latin America.
>>Electra, which is developing a hybrid-electric ultra-short takeoff and landing aircraft, has raised an undisclosed sum from Statkraft Ventures.
The Virginia-based startup said its aircraft is designed for quiet operations from runways as short as 150 feet, meant to make travel more accessible to underserved regions.
Electra said it has more than 1,200 aircraft pre-orders from more than 30 customers, including established operators as well as new companies.
>>Craftable has raised an undisclosed amount of growth funding from private equity firm Gauge Capital.
The Texas-based startup said its platform can automate back-of-house operations for hotels, restaurants, and other hospitality companies. Examples include: procurement, inventory tracking, recipe cost management, accounts payable automation, scheduling, and analytics.
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: Nezasa products include a flight optimization tool and trip building software. Afif Ramdhasuma / Pixabay