Online travel planner GoEuro announces $4m seed funding from Battery Ventures and Hasso Plattner2013-03-04 8
Berlin-based startup GoEuro, the new European online travel planner, has announced a seed investment of $4m. The funding round was led by Battery Ventures and Hasso Plattner Ventures, along with other members from the travel industry.
Founded in 2012, the platform compares and combines a variety of transport modes, including air, rail, bus and car rental options. It aims to simplify travel by providing options across pricing, travel times and convenience – eliminating the need to go to multiple sites to plan a trip.
GoEuro will use the funding round to aid its product development and recruitment as it heads into closed beta in the next few weeks. Founder Naren Shaam told us that it’s “very difficult to gain access to the massive amounts of data and to make the tech to compare all travel options on a single platform. In Germany alone, there are roughly 7000 train stations to 30 airports, so you can imagine the complexity. We need financing to scale up our tech and integrate it.”
The platform bears a striking resemblance to fellow Berlin-based travel comparison tool Waymate, a platform featured as a Startup of the Week on VentureVillage earlier this year. When asked about the rival site, Shaam told us he doesn’t know much about the service, but that in an online travel market worth roughly “$320b in Europe, it is a big market with room for competitors and multiple players.”
The service will begin in the UK and Germany, but plans on rolling out to other European countries in the future. GoEuro has already established partnerships across the continent and developed proprietary algorithms with local mapping techniques to aid users in planning their trips.
Yaron Valler, Managing Partner at HPV, said: “We have invested in GoEuro because we believe it will have a major impact on consumers seeking a one-stop destination to plan their journey within Europe – not just from airport to airport. This in turn provides a huge opportunity for transport operators, in particular bus and train to capitalise on this efficient method of travel planning and significantly increase advance ticket sales.”
Image credit: Flickr user Jsome1
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