Travel-Tech Startup Funding Takes a Dive in First Half of 2016
Photo Credit: Pictured are AllTheRooms.com employees working at an office in Latin America. AllTheRooms
Skift Take
The funding balance of power is changing as 67 percent of venture capital deals for travel tech startups took place outside the U.S. in the first half of 2016, although that was 3 percentage points lower than the year-earlier period. Funding for mobile-travel startups jumped 500 percent.
Travel-tech startup funding sank nearly 44 percent to nearly $1.5 billion during the first half of 2016 and startups seeking the bonanza-like funding rounds in 2016 that Airbnb and Uber have enjoyed in the past may want to consider readjusting their expectations.
The $1.5 billion in total funding for travel startups during the first and second quarters was spread across 141 deals, nearly all of them below $40 million, according to CB Insights, a New York City-based venture capital and investment data firm.
The number of deals for the first half of the year remained stable compar
