Electric Plane, Corporate Retreats, AI Trip Planner: Startup Funding Roundup

It was another busy week for travel startup funding, and this time it was all early rounds with lower amounts.

Eight industry startups from a variety of sectors and geographies announced fundraises of more than $30 million over the last week.

Cosmic Aerospace: $4.5 million

Cosmic Aerospace, which is developing an electric aircraft for flights of up to 600 miles, has raised $4.5 million in seed funding. 

Pale Blue Dot led the round, with support from deep tech and fellow climate tech investors including Aera VC, Visionaries Club Tomorrow, Fifty Years, Possible Ventures, Syndicate One, Course Corrected, Understorey Capital, and Samurai Incubate.

Colorado-based Cosmic Aerospace said it is focused on developing a highly efficient airframe and propulsion system instead of relying on future battery improvements. 

“The technology exists to build long-range electric aircraft, but needs to be developed into a commercial product that is certifiable in current and future regulatory frameworks,” the company said in a statement. 

The startup plans to test its first flight in 2026 and begin service at the end of the decade. 

Cosmic said it is in business deal discussions with various airlines and other key aviation industry stakeholders. 

Naboo: $8.1 Million

Naboo, a platform for booking corporate retreats, has raised $8.1 million (€7.5 million).

Investors included ​​ISAI, Kima Ventures, Better Angle, CapHorn, and Maif Avenir.

Paris-based Naboo says clients can find and book many aspects of corporate retreats, including vacation homes, catering, activities, transportation, and more. Clients have included Chanel, Google, and Ikea, the company said. 

The funding will go toward developing new features powered by AI.

CitySwift: $7.5 Million

CitySwift, a platform meant to streamline operations for bus companies, has raised $7.5 million (€7 million).

Gresham House Ventures led the round, with support from Act Venture Capital, Irelandia Aviation, Western Development Commission, and Mike McGearty.

Ireland based CitySwift said its tech can predict journey times and passenger demand by analyzing hundreds of factors, including traffic and events. Customers include private governmental bus operators. 

The funding will go toward enhancing the platform and expanding business. 

Holdbar: $3.5 Million

Holdbar, a platform for managings tours and activities operations, has raised $3.5 million in seed funding.

The round came from Seed Capital Denmark, Firstminute capital, Founderment, and a group of angel investors. 

Denmark-based Holdbar said its platform can be used for online sales to individuals and groups, as well as payments, gift cards, guest communications, and marketing. 

Ease My Vacations: $3 Million

Ease My Vacations, a travel booking platform for the Indian market, has raised $3 million in seed funding. 

Based in New Delhi, the startup said its platform is meant to offer personalized options for curated holiday packages.

The funding will go toward business expansion, enhancing the tech, and adding more products.

Nicer: $2 Million

Nicer, an AI-powered travel and booking platform for travel advisors, has raised $2 million in pre-seed funding. 

The round came from Trip Ventures and a group of travel industry leaders.

The Puerto Rico-based startup said its platform is meant to help travel advisors deliver personalized experiences

The funding will go toward scaling the technology. 

Nicer is democratizing access to the benefits of working with elite travel advisors by augmenting their human touch and access to exclusive perks with artificial intelligence to grow capacity, expand profit margins and deliver bespoke travel experiences.

The startup’s board includes Shane O’Flaherty, Microsoft’s global director of travel and hospitality.

The Digital Hotelier: $1 Million

The Digital Hotelier, a software product for optimizing hotel guest reservations, has raised $1 million in seed funding.

The startup secured $200,000 toward the round from Plug and Play and Hope Ventures on season three of the entrepreneurial reality show Beban. The rest came from a group of angel investors.

The United Arab Emirates-based company said its platform allows guests to book stays and pay for other services, including room service, spas, food, and entertainment. 

The funding will go toward product development and market expansion.

Reveel: $700,000

Reveel, which digitizes paper maps for destinations, has raised just over $700,000 (€650,000) in pre-seed funding from Inventure VC and angel investors.

Finland-based Reveel said it can help turn paper maps into interactive digital guidebooks for historical sites, museums, churches, hotels, national parks, and cities. 

Destinations can also create and sell digital guided tours through the platform. Users can open the digital maps on their phones and view the content in 28 languages. 

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.

Photo Credit: Pictured: A rendering of an electric airplane being developed by Cosmic Aerospace.