Klook, an online travel agency for tours and activities, transport, and travel services, said it had raised $210 million (about $290 Singaporean dollars) in capital with a mix of venture equity and bank financing.
17.11.2023 - 23:41 / skift.com / Justin Dawes
Two travel tech startups announced fundraises over the past week totaling more than $203 million.
>>SkyNRG, which is focused on developing the market of sustainable aviation fuel, has raised $190.9 million (€175 million) from Macquarie Asset Management.
Amsterdam-based SkyNRG said it sells SAF to airlines now and also has research and development operations and advisory services.
Macquarie Asset Management said the “initial investment” will go toward SkyNRG’s next phase of growth, which includes establishing facilities for SAF production. The company plans to build facilities in Europe and the U.S. by 2030.
SkyNRG said it has secured long-term commitments with KLM Royal Dutch Airlines and Boeing, among others, for SAF purchases worth €4 billion.
SkyNRG is among the companies working to reach the collective goal of airlines achieving net zero carbon emissions by 2050.
“It is critical that SAF production capacity is developed now to enable the aviation industry to meet its net-zero goals,” said Philippe Lacamp, CEO of SkyNRG, in a statement.
The transaction is subject to closing conditions and meeting terms requirements.
>>Virdee, which provides guest experience tech for hotels, has raised $12.4 million in an oversubscribed round of series A funding.
It was led by Moneta Ventures, with support from Silverton Partners, Koch Real Estate Investments, Alumni Ventures, DJR Advisors, Capital Factory and others.
Virdee has now raised more than $21 million.
Texas-based Virdee said its platform is meant to automate front desk tasks with products like digital check-in, digital room access, and remote assistance.
Virdee said it had 600% revenue growth in 2022 and expects similar growth this year. Clients include “four of the largest casino hotels in Las Vegas and several other major hotel brands.”
The funding will go toward strengthening the product, hiring, and adding clients.
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
Klook, an online travel agency for tours and activities, transport, and travel services, said it had raised $210 million (about $290 Singaporean dollars) in capital with a mix of venture equity and bank financing.
America’s national parks are some of the most beautiful spots in the entire country, and next year travelers will be able to visit them all for free on six different days.
New Year, new national park to check off your must-visit list? Mark your calendars: The park system just announced a half dozen “free days” for 2024 that are spread throughout the year, beginning with Martin Luther King Jr. Day on Jan. 15, 2024.
The City of Myrtle Beach, South Carolina earlier this week gave its initial approval to a multi-family housing development plan. The proposal entails the annexation and rezoning of approximately 18 acres of land. Presently, the site is designated for commercial projects, but the proposed zoning change would permit a mix of commercial and residential development — this would include construction of more than 380 housing units, with a portion of them anticipated to be utilized for short-term rentals.
The flight marks a world first on 100% SAF by a commercial airline across the Atlantic, flown on a Boeing 787, using Rolls-Royce Trent 1000 engines.
Travelport said Monday that it has raised $570 million in new equity from investors.
Trip.com Group said Thursday that it has selected Amazon Web Services as its “strategic cloud provider” in a multiyear deal meant to drive innovations in travel bookings, personalized recommendations, and customer service.
Virgin Atlantic Airways completed a transatlantic flight Tuesday using all sustainable aviation fuel — and whatever you do, do not call it a stunt.
Virgin Atlantic made history on Tuesday by crossing the Atlantic Ocean with a jetliner powered entirely by sustainable aviation fuel (SAF).
The Cyber Monday deals have officially rolled in — and travelers can now jump on these limited-time JetBlue and Southwest airfare sales.
This partnership marks a significant milestone in the airline’s ongoing efforts to enhance its fuel management program. By joining the SkyBreathe Community, counting more than 60 like-minded airlines today using the platform, Pegasus Airlines is demonstrating its commitment to being at the forefront of the global transition to more sustainable aviation practices.
First time drop-in SAF is used on an A380 with full compatibility across the aircraft’s existing system.