This year has been much slower for travel startup funding compared to last year. In the past three weeks, eight travel startups raised $159 million. The numbers were roughly the same in the prior three weeks. Last year, there were three companies that each raised over $100 million in March alone.
Still, the companies getting the most funding now are following the same trend: Hotel tech, business travel tech, and anything focused on the burgeoning Indian travel economy.
Inn-Flow: $45 Million
Inn-Flow, which provides back-office software for hotels, has raised $45 million in growth capital. The funding came from growth equity firm Mainsail Partners.
The tech by North Carolina-based Inn-Flow is meant to help hotel owners and management companies with accounting and bookkeeping, labor management, payroll, business intelligence, and more.
“The hotel industry is long overdue for modern technology solutions designed specifically to power back-office operations,” said Paul Meyer, vice president at Mainsail Partners.
The funding will go toward product development — including for facilities management, mobile technology, and advanced business intelligence — as well as improving customer experience and hiring.
The company said that it processed more than 920,000 invoices and conducted over $2.7 billion in payments in 2024.
Scapia: $40 Million
Scapia, which offers a credit card and app geared to young Indian travelers, has raised $40 million in series B funding.
Peak XV Partners led the round, with participation from Elevation Capital, Z47, and 3STATE Capital.
The company last raised $23 million in 2023.
Bangalore-based Scapia released a co-branded Visa credit card in partnership with Federal Bank in 2023.
Benefits of the card include no foreign exchange fees, unlimited domestic airport lounge access with a minimum monthly expenditure, and no annual or joining fees. There’s also 10% rewards for all purchases and 20% rewards on all travel bookings made through Scapia.
The credit card app includes a tool that enables customers to instantly redeem points for flight and hotels, bookable through the app, the company said.
“The travel fintech space represents a significant opportunity, especially considering that Gen Z and millennials now account for 50% of all credit card issuance in India — pointing to a rapidly growing, digital-first consumer base that will fuel an $80–100 billion annual revenue opportunity by 2030,” Mridul Arora, partner at Elevation Capital, said in a statement.
The funding will go toward hiring, enhancing product offerings, integrating AI, and business growth.
Mendel: $35 Million
Mendel, a business travel and expense management company, has raised $35 million in series B funding.
Base10 Partners led the round, with support from PayPal Ventures, Infinity Ventures, Industry Ventures, Hi.vc., and Endeavor Catalyst.
Mexico City-based Mendel says its platform is geared toward large enterprises in Latin America. Client companies that subscribe to the service can use the platform to manage employee travel, payments, and expenses in one place, Mendel said.
Clients include Mercado Libre, FEMSA, and McDonald’s.
The funding will go toward business growth, including expanding into Chile, Colombia, Peru, and Brazil, as well as improving the product and integrating AI. The company also plans to hire for product development, business expansion, and AI research.
HolaCamp: $11 Million
HolaCamp, which operates various “glamping” campsites, has raised $11 million (€10 million).
Amavi Capital led the round. The funding will go toward tech developing and expanding in Spain and Portugal.
Barcelona-based HolaCamp manages 11 campsites, which travelers can book on its website. The company said it expects to bring in €30 million this year.
HolaCamp plans to add at least five new campsites in Spain and Portugal next year, with plans to consider expanding in other European markets. The funding will also go toward improving the tech product and hiring.
Gaiarooms: $11 Million
Gaiarooms, an operator of serviced apartments and co-living spaces, has raised $11 million (€10 million). Bonsai Venture Capital led the round, with support from angel investor Javier Llorente.
Spain-based Gaiarooms says it operates more than 900 units in eight cities, with plans to expand to more than 4,000 by 2028. Its website allows online reservations, and its tech includes digital keys for door entry.
Limitless Travel: $8.4 Million
Limitless Travel, which sells vacation packages geared toward travelers with disabilities, has raised $8.4 million (£6.5 million) in series A funding.
Beringea led the round, with support from Social Impact Enterprises, Adjuvo, Active Partners, Miroma Ventures, and other investors.
The UK-based company offers various types of vacation packages, including stays in popular cities, nature tours, group bus tours, and a large variety of cruises.
The company said its revenue has grown 350% since 2022. The funding will go toward enhancing vacation packages, adding new products and destinations, and expanding international growth.
Unravel: $7 Million
Unravel, an app that combines social media and travel booking, has raised a $7 million series A round.
Nauta led the round, with support from Active Partners, Slingshot Ventures (whose largest limited partner is former Booking.com CEO Kees Koolen), and former Booking.com CFO Olivier Bisserier. Other investors included Antler, Nodes, Upscalers, Brook Bay Capital, and The Players Fund.
London-based Unravel partners with travel influencers, who make TikTok-style videos about destinations. The videos are paired with bookable stays and ticketed experiences. The app also contains a trip planner, and users can also search for stays and experiences through the app.
Aside from the consumer app, Unravel offers a white-lable product for banks, insurers, airlines, telecommunications, and other companies. The clients can integrate the video and travel booking products into their own apps.
Existing clients are in Asia and the Middle East. The company plans to expand into Europe and the UK.
The funding will also go toward strengthening the AI to optimize video-commerce sales, hiring AI-focused developers, and expanding partnerships.
Juno: $2 Million
Juno, which is developing tech to help companies manage non-employee travel, has raised $2 million in seed funding.
The round was co-led by Steve Singh, who is managing director of Madrona Ventures, and Bungalow Ventures.
The platform by Denver-based Juno is meant to help client companies manage travel for guests, such as clients, potential hires, and speakers.
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June 4, 2025 – NEW YORK CITY