Flying Taxis and Loyalty Tech: 6 Travel Startups Raise $100 Million

Travel Startup Funding This Week

Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.

It's been a slow start to the year for travel startup funding. That pace likely won’t last, however. There were multiple record-breaking funding rounds in 2024 as travel software companies aim to consolidate the industry through M&A. Stakeholders expect that activity to continue through 2025. 

So far this year, six travel startups have raised just over $100 million.

Oyo, the budget hotel operator and aggregator, raised $65 million. 

The capital came from Redsprig Innovation Partners, a fund led by Oyo CEO Ritesh Agarwal, increasing the company’s valuation to $3.79 billion ahead of a planned IPO.

The company in August raised a series G round of $172.7 million at a valuation of $2.4 billion, a sharp drop from its series F round of $1.5 billion in 2019.

India-based Oyo has raised an estimated $3.3 billion over the years. Much of that has gone toward rapidly expanding different sectors of the business and building operations software products that it provides to hotel owners.