Travel Startups Raised $240 Million This Week

11.08.2024 - 03:59 / skift.com / Justin Dawes

Four travel startups raised nearly $240 million this week, but one raise accounted for the vast majority of that.

With a series D round of $225 million in venture capital, Flyr’s fundraise this week was the largest for a travel tech company this year or last year. It even outdid two major equity-debt raises last year by tours and activities platforms GetYourGuide and Klook, underlining the level of opportunity for modernizing airline retail.

Flyr, a modern retail platform for airlines, has raised a series D round of $225 million. 

WestCap led the round, with support from BlackRock, Streamlined Ventures, a wholly owned subsidiary of the Abu Dhabi Investment Authority, and the airline Avianca. 

Flyr also raised $70 million in debt financing led by Vista Credit Partners. 

Flyr said it has now raised over $500 million.

San Francisco-based Flyr says its AI-powered platform helps airlines offer dynamic pricing, personalized offers, and other digital products. The company has also been rolling out similar products for hotels.

(See Skift’s story.)

Sora Fuel, which is developing renewable jet fuel, has raised $6 million in an oversubscribed round of seed funding. 

Engine Ventures led the round, with support from Wireframe Ventures and other investors. 

Massachusetts-based Sora Fuel says it develops sustainable aviation fuel (SAF) using only water, air, and renewable electricity produced in-house. 

The startup captures atmospheric carbon dioxide with a process that it says is cheaper than existing methods. It then uses water and renewable energy to convert it to a combustible fuel called sygnas. 

“Sora Fuel’s technology eliminates 90% of the energy currently required in standard [direct air capture] processes, opening up an entirely new and more sustainable path for producing carbon negative fuels,” said Gareth Ross, co-founder and CEO of Sora Fuel, in a statement. ​“Our patented, closed-loop system enables the direct generation of an economical product and overcomes widespread feedstock constraints, allowing us to produce SAF at prices comparable to current Jet A fuel.”

The funding will go toward expanding the Boston team, advancing the tech, and developing commercialization partnerships.

Wanderboat, an AI trip planner founded by former Microsoft and Meta employees, told Skift that it has raised $6 million in seed funding from undisclosed investors. 

San Francisco-based Wanderboat said its platform includes an AI-generated chat along with interactive maps, containing pins for nearby attractions that users can click on for more information. The website’s proprietary search engine draws from websites, video content, social media photos, and review sites, designed to offer personalized recommendations and