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Travel Startups 2023: Billions in Funding
23.12.2023 - 13:17 / skift.com / Justin Dawes
Travel startups raised at least $3.7 billion in 2023. Skift tracked more than 200 travel startup fundraises through a weekly roundup article, compiled from company announcements and exclusive reporting.
While $3.7 billion is a big number, the actual total is surely higher. That’s because some startups do not share when they raise money, and some do not disclose amounts raised. And we don’t track all global markets.
Below is an overview of the biggest raises, funding trends, and other important developments from 2023. (Is your travel startup raising money in 2024? Let us know.)
The short-term rental sector was the most well-funded in 2023. Skift tracked nearly 30 startups related to short-term rentals that raised more than $676 million.
The group includes booking platforms, property-management platforms, niche websites, and more.
The sector has exploded since the pandemic, driven in large part by the surge in remote work, and that growth is continuing.
Some of the startups that raised money are focused particularly on the digital nomad market. That includes Berlin-based property manager Habyt, which raised $42.4 million for a booking platform that includes rentals in co-living spaces, homes, and hotels for locals and travelers.
There have been fundraises for even more niche platforms, as well. Germany-based Raus and Australia-based Unyoked each raised millions of dollars for vacation-rental platforms that offer high-tech cabins in remote locations.
And Vipio raised several million dollars for specialty vacation rentals with a portfolio that includes Freddie Mercury’s former vacation home.
Startups from the hotel tech sector were most likely to be funded in 2023, though the sector did not get the largest amount of funding overall.
Skift tracked more than 30 startups related to hotel tech that raised at least $274 million, including several startups that did not disclose their funding amounts.
This category covers a number of software products and services, such as property management, pricing and revenue, guest communications, kitchen operations, and more.
The largest fundraise among them was $48 million by Stayntouch, a property management system owned by MCR.
Nine startups developing next-generation aircraft and components raised more than $603 million.
Regent Craft raised $60 million in October toward development of an electric seaglider for commercial travel along coastal routes. The first, called Viceroy, will carry 12 passengers up to 180 miles and is meant for underserved coastal communities. The company has a goal to deliver the product by mid-decade.
And ZeroAvia raised $116 million in November to develop a hydrogen-electric jet engine, focusing first on engines that support a
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