Travel Startup Funding Picks Up with B2B Tech in the Lead
Despite a slow year for travel startup funding overall, business-to-business (B2B) travel tech companies are continuing to attract significant investment. In the past four weeks alone, seven travel startups have secured over $560 million in funding, with the largest rounds going to companies modernizing various aspects of the travel industry.
Renewable Jet Fuel Leads the Way
SkyNRG, a producer of renewable jet fuel, secured the largest funding round at $346.8 million. The investment, which included $285.7 million from pension management company APG on behalf of ABP, a Dutch pension fund, will be used to construct new facilities in the Netherlands, Sweden, and the United States, as well as support research and development.
Hotel and Vacation Rental Tech See Significant Investments
Hotel tech company Canary Technologies raised $80 million in series D funding, bringing its valuation to approximately $600 million. The San Francisco-based company offers products including mobile check-in and checkout, guest messaging, and digital tipping, and has recently introduced AI-powered chatbot and voicebot products to enhance guest communication.
Vacation rental management platforms Holidu and Wander also secured significant funding rounds, with $52.8 million and $50 million respectively. Holidu, based in Germany, primarily targets hosts who own a single property and has seen its managed properties triple since 2022. Wander, a San Francisco-based company focusing on luxury short-term rentals, claims to be on track to automate 95% of operational tasks within the next 18 months.
eSIM Technology and Expense Management Also Attract Investment
Smaller but notable funding rounds were secured by eSIM app providers Kolet ($10 million) and Truely ($2 million), as well as expense management platform Qashio ($19.8 million). Sustainable tourism experience booking marketplace Travaras raised $1.5 million in a pre-seed round, while AI-powered trip planner The Tarzan Way secured $234,000.
These investments reflect ongoing interest in technologies that modernize and streamline various aspects of the travel sector, from B2B platforms to emerging technologies like eSIM solutions.
