Travel seed funding this week
Public transport planning software company Optibus sees an opportunity to help cities “build back better” by redesigning networks of buses, trains, bikes and more after the pandemic.
>> Optibusa platform for planning and operating public transport, raised $100 million.
Series D funding came from new and existing investors including Insight Partners, Bessemer Venture Partners, Verizon Ventures, Pitango First & Pitango Growth, Tencent, SOMV Momentum.
It will use the money to expand into new product and service offerings, including electric vehicle management, and to expand into new markets. He also launched Ridership Insights to help planners “redesign transportation systems to increase ridership and build back better.”
Optibus’ customers include agencies and transport operators in 1,000 cities around the world. This latest round of funding brings the total funding value to $260 million, and Optibus claims it is the first dedicated “unicorn” for the public transport sector, with a valuation of $1.3 billion.
>> ennea capital partners threw Ennea Invest, a new fund aimed at financing start-ups in the travel and hospitality industry. He is supervised by Sven Sterzenbach, Tobias Wolfshohl and Jan-Frederik Valentin, former senior vice president and general manager of Kayak Europe. Investments will focus on technology start-ups from Europe and America. It has already made its first investments in WeTravel from Silicon Valley and Lambus, based in Osnabruck, Germany.
Skift Cheat Sheet
Seed capital is the money used to start a business, often led by angel investors and friends or family.
A-Series funding usually comes from venture capitalists. The cycle aims to help startup founders ensure that their product is something customers actually want to buy.
B-series funding is mostly for venture capitalists that help a business grow faster. These fundraisers can help recruit skilled workers and develop profitable marketing.
C-Series financing generally consists of helping a company to grow, for example through acquisitions. In addition to VCs, hedge funds, investment banks, and private equity firms often participate.
D-Series, E, and, beyond These mostly mature companies and the funding cycle can help a company prepare to go public or be acquired. Various types of private investors could participate.