According to the latest report of CB Insight on Travel tech funding, the startups disrupting the sector are still attracting VC. “The Covid-19 outbreak cost the international tourism industry $320B in lost revenue between January and May 2020, according to the World Tourism Organization. Despite growing economic uncertainty, the global travel tech startup space has raised $2.4B in equity funding since the beginning of 2020.”
According to the passenger throughput released by the U.S. Transportation Security Administration (TSA), more than 9.2 million passengers traveled by air during the 10-day holiday stretch in 2020. It was the first time since the pandemic began that more than 1 million passengers traveled each day. And the number of travelers is growing with the number of vaccines being administered.
With customers ready to travel again and VC interested in the Travel Tech sector, the next couple of years promises to be extremely exciting in the space.
2021 should be a great year for Travel Tech Startups: here is a list of 10 amazing startups that we like (and might work with).
1- ClimaCell is using IoT data and information from more conventional weather station sources, ClimaCell uses AI to analyze meteorological data very fast to help improve airport and airline safety.
2- Duffel enables travel businesses to search, book, and manage flights effortlessly using an API-powered platform. Now, you can start selling flights in minutes not months on the new software backbone of the travel industry.
3- Flywallet is a startup that helps customers spread the cost of airline tickets through smaller payments over time. Think BNPL for your vacations.
4- WeTravel is an online payment platform that offers organizers pre-departure tools to collect funds and organize logistics. Its platform has been used for a wide variety of trips, such as yoga retreats, student trips, bachelorette trips, dance trips, company retreats, or sports team travel. Its website allows organizers to create a beautiful website for their trip in minutes.
Organizers can collect deposits directly on the WeTravel platform and then easily transfer the funds to their account or directly to a travel agent or airline. (even internationally, at much better exchange rates than banks)
5- Nomad Stays is a travel platform for remote workers and digital nomads that simplifies the process of finding and booking suitable accommodation. Most accommodation markets only cater for short stays of a few days or semi-permanent renters for a year or more. Self-catering, broadband-connected, extended stays are hard to find and even harder to book.
Nomad Stays niche travel platform solves this, by providing provides a one-stop listing and instant booking service for properties around the world that are considered ‘digital nomad friendly’. (Nomad Stays are now in 50+ countries, and one of the most affordable platforms out there)
6- Port enables travelers and working professionals to book on-demand remote guides around the world. You can “Request remote guides around the world to bring you to offline events and venues through a live video call. You instruct the remote guide what to do and who to interact with.”
7- Routehappy The company created a ‘Flight Score’ for every flight in the world, which shows all the attributes of a flight, so you can choose the best one for the best price with your own criteria. They provide the world’s leading technology, pricing, and shopping data to airlines, global distribution systems, travel agencies, and tech companies.
8- TripActions uses AI technology to create personalized recommendations and expense prediction to make bookings easy in the corporate travel arena. TripActions help clients Lyft, Pinterest, GameStop, and Medium to save on travel costs.
9- Triip is a Singapore-based startup using blockchain technology to offer TriipMiles, a travel-based cryptocurrency, by booking rooms or flights, sharing your travel plans today, and completing tasks during your trip.
10- Travel Ledger is an electronic invoice and remittance system which is connected to UK and European banking for easy and secure payments between travel buyers and suppliers using the power of blockchain. Travel Ledger automates the complex processes of invoicing, remittance, and funds transfer so businesses can reduce transaction costs and speed up payments.
In 2021–2023, travel startups might have a great role to play to help customers adjust to the new normal of flying and traveling. OTONOMI will be thrilled to collaborate with travel tech companies in the near future.
OTONOMI is a B2B SaaS for insurance carriers. Our platform drives efficiencies in operations by automating claims, saving insurance over 50% in administrative costs. As a result, we eliminate the claim process for a better experience for the policyholders and outperforming combined loss ratios for insurance partners. We are working in the transportation, logistics, and mobility industries.