Travel tech startup funding soars 133% in Q1 2016

Two of the most well-funded travel tech companies have raised over $1B in funding. The category has several unicorn companies, including Skyscanner and Tujia, cbinsights.com reports in the following article:

"Funding to travel tech startups skyrocketed in 2015. Piggybacking off a healthy 2015, the travel tech space saw the third-highest amount of funding by quarter in Q1’16 (despite a sharp decline in deal count).

We used CB Insights data and analytics to dig into the data surrounding travel tech investment trends, including deals and dollar breakdowns, and most well-funded companies.

We defined travel tech as tech-enabled companies offering services and products focused on tourism, including booking services, search and planning platforms, on-demand travel, and recommendation sites. Car-hailing services are excluded."

Deals and dollars

Travel tech startups raised $867M across 51 deals in Q1’16, (the lowest deals total since Q4’14). While the quarter saw a significant drop in deal count, it also marked a strong recovery in funding, up 133%, after the plunge in Q4’15. That points to a quarter that saw relatively few, but very large deals on average

In fact, the three largest travel tech deals in Q1’16 accounted for 62% of funding. Each of the three deals took went to startups based outside the US: India-based Ibibo Group, Scotland-based Skyscanner, and China-based Travelzen.

Want more travel tech data? Check out the cbinsights.com venture capital database below.

Read more here.

RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report