The World Travel and Tourism Council predicts that the industry will cross $11 trillion in revenues this year. Consumers are evolving from the ‘revenge travel’ of the post-COVID-19 years, dedicating a growing share of their budget to a wider array of experiences away from home. The addition of AI has sparked renewed investor interest in startups looking to disrupt the landscape with something new.
Berlin-Based Tourlane Rides the Travel Wave
Tourlane, an agent-esque platform that lets users plan and budget trips, bringing together flights, accommodations, activities, and tickets, has raised a fresh €25 million ($26 million) in funding. The Series D, led by Sequoia Capital, is intended as a bridge to help the company reach profitability. The startup will use the funds also to expand its tech, double down on AI, and potentially expand to more origination markets beyond its current bases in France and Germany.
The AI Investment: A Game-Changer for Tourlane
Weselek, Tourlane’s CEO and co-founder, stated that the company is bringing in generative AI around the front end of the service to build more intuitive ways to help users plan their trips. This investment has the potential to be a game-changer for the company, as it will allow them to provide a more personalized experience for their customers.
Tourlane’s Journey Through the Pandemic
The first tranche of Tourlane’s Series C round closed just months before the pandemic hit, and the second closed in the middle of it. The company raised money to hang on until people traveled again. Weselek stated that he does not treat the valuation as a focus or priority, as company valuations in the private market are highly volatile.
Sequoia Capital Leads Tourlane’s Funding Round
Sequoia Capital led the funding round for Tourlane, with world-class investors securing €25 million of funding. Weselek stated that this investment enables them to bridge the path to profitability while further investing in their product, service, and growth.
Tourlane’s Ambitions for the Future
Weselek stated that if they succeed in their ambitions, they will generate a lot of shareholder value in the years to come. The company is focused on providing a more personalized experience for their customers through the use of AI and expanding their services to more origination markets.
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Topics Covered
- Europe
- Fundraising
- Germany
- Sequoia
- Startups
- Tourism
- Tourlane
- Travel
