3 Companies Modernizing Air Travel: Startup Funding Roundup

15.03.2024 - 20:37 / skift.com / Justin Dawes

Seven travel startups from a variety of sectors have raised over $150 million in the past two weeks.

The biggest was hotel tech company Mews at $110 million. And there were raises by three startups attempting to modernize the air travel industry.

Below are the industry’s latest fundraises.

Voi, which provides public access to e-scooters and e-bikes in Europe, has raised $25 million in an oversubscribed financing round.

Investors included VNV Global, Raine Group, Nineyards Equity, Balderton, Creandum, Project A, Stena, Black Ice Capital, and individuals including founders and employees.

The company also secured debt financing in conjunction with the venture capital. 

The company has now raised more than $540 million in equity and debt, according to compiled reports on Crunchbase.

Sweden-based Voi partners with cities and transportation companies to provide its vehicles for public use. Through the Voi app, users can locate a nearby vehicle and unlock it by scanning the QR code on the handlebar. 

The funding will go toward expanding the company’s e-scooter and e-bike fleet. 

“Amidst the rapid consolidation in the European market, this financing puts us in a great place to expand,” said Fredrik Hjelm, CEO of Voi in a statement.

Voi says it completed a record-breaking 68 million rides in 2023 and expanded to cities including London, Vienna, Oslo, Milan, and Marseille.

Over the past two years, the company’s revenue has grown by nearly 50%, gross profit has more than doubled, and overhead costs have been reduced by nearly 50%, Hjelm stated.

“Looking ahead, we see numerous promising opportunities as cities pivot from being car-centric to driving sustainable mobility, and consumers increasingly integrating micromobility into their daily routines,” Hjelm stated. 

NLX, which provides customer service tech to clients including airlines, has raised $12 million in series A funding.

Cercano led the round, with support from Thayer Ventures, HL Ventures, IAG Capital Partners, JetBlue Ventures, and Tech Square Ventures.

New York City-based NLX said its generative AI-based software can provide personalized customer service via voice or chat, meant to ease the burden on call centers. Clients can also manage and analyze customer conversations through the NLX platform. 

Clients have included Copa Airlines and United Airlines.

TravelJoy, an AI-based platform to help individual travel agents plan trips, has raised $10 million in series A funding. 

The round was led by Theresia Gouw of Acrew Capital, who is also a former board member of Hotel Tonight and Trulia, with support from NFX, Founder Collective, Forerunner, and Concrete Rose. 

San Francisco-based TravelJoy said its platform includes tools for customer