Travel Startups Raised $240 Million This Week

Change Me

This week’s single startup – the biggest this year – also surpasses the top two deals in 2023 by GetYourGuide and Klook.

Justin Dawes

Four travel deals raised nearly $240 million this week, but one increase accounted for most of that.

With a series D of $225 million in venture capital, Flyr’s funding this week was the largest for a travel technology company this year or last year. It even took out two big deals last year with travel and career platforms GetYourGuide and Klook, highlighting the level of opportunity to improve airline shopping.

Flying: $225 Million

Flyr, a modern flight trading platform, has raised a $225 million Series D round.

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

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

Flyr says it has now raised more than $500 million.

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

(See Skift story.)

Sora Oil: $6 million

Sora Fuel, which develops renewable jet fuel, has raised $6 million in seed funding.

Engine Ventures led the way, with backing from Wireframe Ventures and other investors.

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

It is starting to capture atmospheric carbon dioxide in a way it says is cheaper than existing methods. It then uses water and renewable energy to convert it into a fuel called sygnas.

“Sora Fuel technology eliminates 90% of the current energy requirement [direct air capture] “The process opens up a new and more sustainable way to produce carbon-free fuel,” said Gareth Ross, co-founder and CEO of Sora Fuel, in a statement. “Our patented, closed-loop system enables direct product development and overcomes common bottlenecks, allowing us to produce SAF at prices comparable to current Jet A fuel.”

The money will go towards growing the Boston team, developing technology, and developing business partnerships.

Wanderboat: $6 million

Wanderboat, an AI tour operator 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 says its platform includes AI-generated chat as well as interactive maps, with pins of nearby attractions that users can click on for more information. The search engine comes from websites, video content, social media photos, and review sites, designed to provide recommendations and insights for users planning trips.

Users can interact with others on the site and share trips with friends for group trips.

The platform is in beta stage. Developers are focused on improving the product and introducing improvements based on user feedback.

The CEO and co-founder is You Wu, a former AI scientist with Microsoft.

YGO Tours: $2.7 Million

YGO Trips, a platform for booking holiday packages, has raised $2.7 million (€2.5 million).

The lead investor was the GetAway Group, a company that holds several book platforms in Germany, Austria and Switzerland. Backing investors included HomeToGo CEO Patrick Andrae, HomeToGo co-founder Wolfgang Heigl, GetAway Group CEO Jan Seifried, and others.

The Berlin-based startup says it allows users to manage flights, hotels and ticket events within a single platform.

The money will go towards strengthening the platform, including by continuing to incorporate AI into the travel planning experience.

Company	The stage	Take the lead	Lift up
To fly	Series D	WestCap	$225 million
Sora Oil	Seeds	Engine Functions	$6 million
Wanderboat	Seeds	Unspecified	$6 million
YGO Travels	Undefined	The GetAway Team	$2.7 million

Edit Cheat Sheet

Seeds Capital is the money used to start a business, usually led by angel investors and friends or family.

Series A funding usually comes from venture capitalists. The purpose of the circuit is to help the founders of the business to make sure that their product is something that the customers really want to buy.

Series B Funding is mostly about venture capitalist firms that help the company to grow rapidly. These types of fundraising can help hire skilled workers and develop profitable markets.

Series C Financing is often about helping the company grow, such as acquisitions. In addition to VCs, hedge funds, investment banks and private equity firms often participate.

Series D, E, and more These businesses that have matured in the knowledge and capital cycle can help the company prepare to go public or be acquired. Different types of private investors can participate.