Lodging Tech and Jet Fuel: Travel Startups Raise $560 Million
Photo Credit: Wander portfolio includes this house on Puako Bay in Waimea, Hawaii. It features a heated pool, tennis court, sand volleyball area, and outdoor bathtubs and steam showers. Wander
Skift Take
Funding has been slow this year, but B2B travel tech startups are still leading the way these days.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.Business-to-business tech platforms are still leading the way in terms of travel startup funding.
As Skift has reported, that’s where the money is: Platforms that promise to modernize travel sectors that have aging tech.
Funding has been slow this year, but it picked up slightly in recent weeks with three significant raises in the B2B category for hotels and vacation rentals. Hotel tech company Canary Technologies just raised $80 million, one of the largest rounds of the year for a travel software company. Holidu and Wander, both offering operations management tech for vacation rentals, each raised around $50 million.
Kolet, an eSIM app that raised $10 million, also promotes its B2B offering for travel companies. It’s likely a more significant revenue driver compared to individual consumer sales.
SkyNRG, a renewable jet fuel producer, had the biggest raise, $285.7 million, for any travel startup so far this year. C
