Mystifly

Mystifly, a flight startup focused on making air travel easier for consumers, has raised $8 million in a Series B funding round led by Cornerstone Venture Partners Fund (CSVP Fund). The funds will be used to invest in technology and expand its business development team. Mystifly aims to offer intermediaries an end-to-end shopping, fulfilment, and payment solution to bridge the old and new worlds of airline distribution. The company's CEO, Rajeev Kumar, said the investment would give the power of airline content to customers without creating dependency on Mystifly. The company's new tech stack allows intermediaries to manage their own...

Ron Rock, Senior Director of Insurance & Insurtech at JobsOhio, spoke at Insurtech Insights Europe about the organization's role in attracting new businesses to Ohio and growing existing ones. JobsOhio focuses on the financial services ecosystem in Ohio, which is the 6th largest in the US. The organization works with insurtechs and fintechs to make introductions with companies in the ecosystem and offers incentives such as grants, loans, and equity stakes through its JobsOhio Capital Fund program. Read further.

Singapore-based Mystifly has closed pre-Series B funding with Cornerstone Venture Partners (CSVP) boosting its round to $8m. The platform offers low-cost carrier and global distribution system options via its application programming interface, settling over 20 million air travel bookings. The funds will be used to expand its presence in Singapore. Mystifly aims to create personalised travel shopping opportunities, allowing airlines to stand out beyond price in a competitive market. Customers can make informed decisions about booking flights. Mystifly is set to democratise air travel sales, allowing businesses to develop their own embedded travel integrations for their customers. Mystifly's co-founders Rajeev...

Singapore-based Mystifly, a SaaS and marketplace provider for the airline industry, has announced the conclusion of its Pre Series B funding round with CSVP, bringing the total to $8m combined with earlier investments. The funding will be used to expand the company's global footprint and product offerings, as well as speed up its data and technology capabilities. Mystifly's API-first platform allows online travel agencies and intermediaries to access a large inventory of airfares and offers airlines an alternative distribution and payments reconciliation and settlement platform. CSVP Investment Director Nanika Kakkar praised Mystifly for building various solutions for multiple stakeholders during...

The week beginning March 20 saw major developments in the retail and eCommerce world with several companies battling the economic consequences of COVID-19 as well as attempting to find new ways to conduct business. One of the biggest news items came from fashion retail giant H&M who announced plans to close 170 stores globally after experiencing a €1.4bn drop in sales. This move is designed to consolidate operations, and move the company towards a more digital-first approach. In response to the pandemic, Amazon decided to stop accepting non-essential items into its warehouses, with the focus shifting towards items that will...

Singapore-based airline distribution technology company, Mystifly, has raised $8m in pre-Series B funding from Cornerstone Venture Partners, RSI Fund I and Jenfi & Crusade Partners. The company's technology enables travel intermediaries to access airfares and offers airlines a distribution, payment reconciliation and settlement platform. The funding will be used to develop Mysticly's data and technology capabilities, including hiring in data and engineering. Last year, the firm launched its multi-source airline retailing solution, Azygos, which allows the creation of a single order combining a traditional global distribution system and a new distribution capability booking. Read further.

Talal Abu-Ghazaleh for Technology (TAGTech), a member of Talal Abu-Ghazaleh Global (TAG.Global), has announced the installation of production lines in Beirut for the opening of the first Arab technological devices factory in Lebanon. The factory, to be based at the Lebanese University, will manufacture laptops, tablets, and smartphones. The establishment of the factory is in line with the vision of HE Dr. Talal Abu-Ghazaleh, founder and chairman of TAG.Global, and comes after discussions with Lebanese government and educational leaders regarding the implementation of digital transformation, e-government, and fighting digital illiteracy. The factory is expected to start production of devices made...

Mystifly has reportedly closed its pre-Series B funding round at $8m with new investment from Cornerstone Venture Partners Fund. Rupee ended the day 32 paise higher versus the US Dollar. Europe's stocks were in decline following the US Federal Reserve's interest rate increase. Accenture Plc is rumoured to be planning to fire at least 7,000 of its employees in India as it prepares to let go of 19,000 people or 2.5% of its global workforce in the next 18 months, according to Mint. FairPlay, an online betting company, signed Badshah as its brand ambassador. Mars Wrigley, the chocolate and confectionary...

Indian startups raised a total of $195m in funding this week, with Stashfin raising $100m and EV firm Charge+Zone gaining $54m. In total, 15 firms secured funding, with three doing so undisclosed. Bengaluru-based firms made up 11.3% of that sum, with Delhi-NCR based firms raising $107m across four deals. Alongside the fundings, five acquisitions were made. Read further.