Mid-September to early October was the most active time for travel fundraising this year. Thirteen startups raised $600 million, and six more startups later raised $500 million.
The last two weeks have been a little quiet. Eight travel startups have announced nearly $40 million in total funding.
Beacon AI: $15 million
Beacon AI, which develops AI systems to improve the performance of airline pilots, has raised $15 million in Series A funding.
Costanoa Ventures led the round, with support from Scout Ventures, OpenAI CEO Sam Altman, and JetBlue Ventures.
The company has now raised a total of $20 million.
The Silicon Valley-based company develops AI-powered tools for commercial and defense pilots. The tool is Murdock, an AI-powered pilot assistant aimed at assisting pilots with flight safety, operational efficiency, and real-time flight support. Another product in development is Lighthouse, a data platform and flight management system.
“Since our inception, our goal has been to empower pilots with advanced technology so they can perform their jobs more efficiently and safely,” said Matt Cox, CEO of Beacon AI. said in a statement. “Everyone in aviation is under pressure to improve safety, but airplane flight decks and pilots remain underserved. I’m building what I wanted to achieve in my 20 years as a pilot.”
The company plans to have a full roster of beta clients in 2024 and begin signing up additional clients in 2025.
The funds will be used to hire, acquire new customers and provide technology to commercial and defense customers.
Grounded: $3.5 million
Grounded, which equips camper vans with customizable interior layouts, has raised $3.5 million in pre-seed funding.
The 81 Collection and Also Capital co-led the round, with support from Side Door Ventures, Tony Lyscio (SpaceX Starlink Development Manager), and Tristan Walker of Walker & Company.
The Detroit-based company was founded by former SpaceX engineer Sam Shapiro.
Grounded has developed a manufacturing system that allows vans and commercial vehicle interiors to be quickly outfitted for dozens of applications. The system has a growing library of “Lego-like” modules with features such as beds, gear storage boxes, indoor showers, smart electronics, and Starlink internet dishes. The company says it reduces the time it takes to get ready by 90%.
The company has already generated $3 million in car sales. The company initially focused on the campervan market with its flagship electric RV, the G2, which has a range of over 470 miles. The company plans to expand into mobile medical care, mobile dentistry, pet grooming, logistics, and mobile refrigeration.
The funds will be used to expand production capacity, hire jobs and expand into new markets.
AviLabs: $8.7 million
AviLabs, which helps airlines respond to flight disruptions, has raised $8.7 million (€8 million).
Frumtak Ventures led the round, with support from Brunnur Ventures.
Reykjavík-based AviLabs’ technology aims to help airlines minimize the impact of flight delays and cancellations on travelers. The technology automates tasks such as guest communication and rebooking, hotel reservations, and meal vouchers.
GlobalTix: $5 million
GlobalTix, which provides ticketing and distribution technology to the tours and activities sector, has raised $5 million (S$6.5 million) in Series B funding.
Tin Men Capital led the round, with support from Seeds Capital and Orzon Ventures.
The Singapore-based company says its technology will enable customers in the Asia-Pacific region to digitize ticketing and reservation operations. You can also connect your clients with travel agents around the world and sell tickets to travelers.
Clients include Mount Faber Leisure Group, Taman Safari Indonesia, Mandai Wildlife Group and National Gallery Singapore. Partners include Singapore Airlines and many online travel agencies.
The company says it sells 12 million tickets annually.
The funds will be used to expand the business and integrate AI into its products.
Bond: $2.5 million
Hotel technology startup Vouch has raised $2.5 million.
Singapore-based Vouch sells software that helps hotels streamline operations and customer service, including personalized upsells based on guest behavior and multilingual AI chatbots for guests.
The startup’s technology is used in hotels that operate a total of more than 35,000 rooms.
This funding will be used to further integrate AI into our products and expand our business.
Jet.AI: $2.4 million
Jet.AI, which develops software aimed at streamlining the booking and operation of private jets, has raised $2.4 million in a securities purchase agreement.
In the direct offering, 26.6 million shares of common stock will be sold at a price of $0.09 per share.
Las Vegas-based Jet.AI has an app, CharterGPT, that allows consumers to use natural language to search for private jet availability before completing a reservation. The company also sells a platform that helps operators with tasks such as vehicle logistics.
The company went public in 2023 through a merger with a special purpose acquisition company.
The funds will be used to strengthen software services.
AMA Selection: $1.6 million
Luxury vacation rental startup AMA Selections has raised $1.6 million (€1.5 million) in seed funding.
Funding is provided by Tandem Venture Capital, Sherif Invest, private investor Nevzat Aydin, and a group of angel investors and family offices.
The France-based startup plans to release an app next week for booking luxury vacation rentals and ticketed experiences.
The funds will be used to expand the portfolio and strengthen its technology offerings.
Jarrus Hospitality: $666,000
Hotel technology startup Jaras Hospitality has raised $666,000 in pre-seed funding.
Saudi Arabia-based Jaras sells software that streamlines hotel bookings, shares availability and prices with third-party booking sites, and helps lodging properties operate.
The funds will be used to grow the business and enhance its products.
CompanyStageLeadRaiseBeacon AISeries ACostanoa Ventures $15 million GroundedPre-SeedThe 81 Collection and Capital $3.5 million AviLabsSeries AFrumtak Ventures $8.7 million GlobalTixSeries BTin Men Capital $5 million VouchSeed Not specified $2.5 million Jet.AI Not specified $2.4 million A.MA Selection Seed Tandem Venture Capital $1.6 million Jara’s Hospitality Pre-SeedUnspecified $666,000
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.
