Investment in travel tech — Five startups shaking up the travel industry, October 2019

Sciant
Sciant
Oct 22, 2019 · 3 min read

Travel and hospitality is booming. In Europe, despite Brexit looming ever closer, hotel investment reached a record high of €23 billion in 2018. In the US a decade of growth has seen hotel gross bookings grow from $116 billion to $185 billion, and airline revenues jump from $155 billion to $222 billion. Overall the sector added a record $8.8 trillion to the world’s combined GDP in 2018 — a massive 10.4% of the world’s total economic activity.

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So what is driving this unprecedented growth? In a word — technology. From smartphones to online travel agencies, travel apps to the sharing economy, the last ten years has seen extraordinary technical developments in the industry.

While the good times can’t last forever, the hope is that continuing technological development will drive ongoing growth, and at the moment this seems to be the case. In the last five years travel startups have received over £1 billion in new investment. The online travel market alone, for example, is expected to grow to $817 billion by 2020.

The technologies behind this explosion are AI, augmented and virtual reality (AR and VR), voice recognition, chatbots, the internet of things, blockchain, machine learning and big data. Everywhere it seems VCs are looking to snap up smart, tech savvy travel startups using these new technologies to disrupt the market. Here are just a handful to keep your eye on.

Hera — HotelResBot

UpsellGuru

HotelFlex

Sherpa

Triip

Sciant helps new technologies find their feet in the travel and hospitality market with the right connections and integrations to help scale in their preferred geographic locations. Sciant’s range of domain experts with specialism in data, machine learning, connectivity and integrations will enable concepts to evolve into MVPs and meet sector demand in feature and functionality.

Sciant

IT and Software Development Services Company

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