Wednesday, 2023 December 6

Israeli-founded travel tech startup Bookaway raises USD 35 million

Israeli travel support startup Bookaway announced on Wednesday that it had raised USD 35 million in its Series B funding round, led by Israeli VC company Aleph with participation from Corner Ventures, Entrée Capital, and a group of angel investors led by Elad Kushnir, COO of Huuuge Games.

Founded in Tel Aviv in 2017, Bookaway helps travelers better navigate their transportation options. Users can search for and compare bus, ferry, and train tickets around the world through Bookaway’s aggregated platform, which also allows transport operators to better understand demand and manage their fleet. Bookaway’s system comes with a booking management system, a financial organization tool, and seamless distribution to online travel agencies for operators.

Bookaway said the funding will help the company continue to grow, particularly by acquiring other brands and expanding its global reach. The company said it also plans to join other leaders in the industry and become the first ground and sea transportation group called “Bookaway Group,” according to the announcement.

Getbybus and 12Go have both joined Bookaway Group, which will allow access to more than 100,000 transportation routes, especially in Europe and Southeast Asia. As a result of these partnerships, there will also be customer reviews and support available in almost 15,000 cities across 80 countries.

“Currently, 95% of the ground transportation industry is offline, meaning travelers waste precious time and money trying to navigate their journey on the ground, having booked their flights, hotel, and experiences online. Local transport suppliers are being left behind by the rest of the travel industry,” said Noam Toister, CEO and co-founder of Bookaway. “We are privileged to join forces with two major brands, Getbybus and 12Go, each bringing with them the skills, knowledge, and reach that complement our global growth mission. By working as one, we aim to bring back the liberation of travel.”

The COVID-19 pandemic dampened those hopes at times, but the creation of Bookaway Group and the company’s investment numbers show continued dedication to overcoming adversity, the company said. Bookaway is now operating in Asia, Latin America, Eastern Europe, the Balkans, and Central America, and it hopes to expand into the North American and Chinese markets.

“Humble and resilient amidst a global pandemic, the [company] presented a map that no one in the travel industry has described before, particularly for the harder-to-reach areas of the world,” said Michael Eisenberg, co-founder of Aleph. “They help people to see more parts of the world, experience different cultures, meet different people, and ultimately be better humans.”

Read this: Livestream platform Qinker nets Series A while travel bookings surge

The article was originally published by NoCamels, a leading news website covering breakthrough innovation from Israel for a global audience.


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