CDS Groupe, a hotel booking platform for business travel, is expanding into the German market through an acquisition.
25.08.2023 - 13:56 / skift.com / Justin Dawes
Four travel tech startups raised $29 million in venture capital this week.
>>Bach, a planning and booking platform for bachelorette parties, has raised $9 million in Series A funding. It was led by Pritzker Group Venture Capital, with participation from Corazon Capital, Freestyle VC, Oversubscribed Ventures, and others.
The app facilitates the search and booking of local experiences and includes features meant to make group travel easier, including group chat, expense splitting, polling, and itinerary creation.
The Philadelphia-based company currently facilitates parties in a dozen U.S. cities, including Nashville, Las Vegas, Miami, and New Orleans, with plans to have 30 cities in its portfolio in the coming weeks.
The company now has more than 1,600 bookable experiences on its platform, with plans to grow that number to 3,000 this year.
The startup has facilitated nearly 500,000 parties and said it is on track to facilitate one in every five traveling bachelorette parties in the U.S. this year.
The company quadrupled revenue growth in 2022 versus the previous year, it said.
“Bach is having a real impact on the vendors the company partners with, “Millennial travel is a huge opportunity, and the future of travel, especially group travel, is changing quickly,” said Sonia Nagar, partner at Pritzker Group Venture Capital, in a statement. “Even though group travel is a $200 billion market, it remains challenging for consumers to coordinate in most cases. Bach is not only proving it can be the market leader and own the bachelorette vertical, but, by doing so, is also building the foundation to naturally unlock group travel broadly.”
Bach started as an app alone, but there will be a booking website available next month.
>>Landfolk, a short-term rental platform founded by Airbnb veterans, has raised $4 million (€3.8 million) in seed funding from Seed Capital.
The startup’s portfolio has grown to more than 1,000 homes and cabins in Denmark, Norway, and Germany since it was founded two years ago. The plan is to double that number this year.
Landfolk was founded in Denmark by seven people, all former employees of Airbnb.
Only 60 percent of homeowner applicants are accepted, with the goal of maintaining consistently high standards
Landfolk said that 70 percent of the homes on platform have either never been rented out or are not rented out on other platforms, showing that the startup has found a gap in the market in that region.
“It’s really exciting to see Landfolk shake up an industry that has been stagnant for far too long. They have managed to create a company in just two years with impressive turnover by, among other things, expanding the market with a segment that has never previously rented
CDS Groupe, a hotel booking platform for business travel, is expanding into the German market through an acquisition.
Five travel tech startups announced $62.1 million in funding this week.
>>Ukio, a Barcelona-based short-term rental platform focused on remote workers, has raised $28 million (€27 million) in a Series A round of funding.
Three startups working in travel tech announced nearly $17 million in funding this week.
Four travel tech startups raised $158.5 million over the last week and a half.
Good morning from Skift. It’s Tuesday, January 3, and here’s what you need to know about the business of travel today.
Three travel tech startups raised $87.2 million this week.
Tech startups involved in the travel industry raised nearly $118 million this week.
The hotel tech startup Mews has raised $185 million, a number high above typical venture capital fundraises in that industry.
Two tech startups involved in the travel industry raised $15.3 million this week.
Five travel tech startups announced $47.5 million in funding this week.
Three travel tech startups have raised $9.3 million in the past week.