Eddy Travels has raised an additional €600,000 investment, closing the pre-seed round of 1.1 million Euros. The round was led by Practica Capital, with participation from Open Circle Capital, Techstars Toronto, and angel investors.
Over 2 million users worldwide have sent text or voice messages to Eddy Travels to find the best travel deals. The AI-powered travel assistant is available in the most popular chat apps such as Facebook Messenger, WhatsApp, Telegram, and others. At the core of the digital assistant is a unique machine learning technology for natural language processing and personalization.
The new investment will be used for the immediate development of new features to help travelers during the coronavirus crisis. Once the COVID-19 pandemic is contained and the travel restrictions are lifted, Eddy Travels will continue the expansion to new markets.
Donatas Keras, partner at Practica Capital says:
“The travel industry was severely hit, and it will take some time to recover from COVID-19 impact, we also believe traveler habits might change. Eddy Travels is in a unique position to use this pause and emerge strongly to serve the new needs of travelers and the travel industry with natural language processing and personalization technology. We been with the company already for a year and based on Eddy Travels growth and a plan to use new opportunities we are leading Eddy Travels pre-seed round.”
Will Cardwell, partner at Open Circle Capital:
"Before the crisis, Eddy Travels was able to grow in a few months from 100k users to nearly 2M users. The numbers show that travelers around the world already require advanced yet simple to use solutions to plan travel, and new needs will emerge after the COVID-19 crisis. We believe that additional investment and the founders' experience will help Eddy Travels to emerge as one of the top travel tech startups.”
Practica Capital is a dedicated Baltic venture capital investment firm focusing on investments in the Baltic and Baltic-origin ventures in Europe. The firm invests in seed, late seed and Series A ventures backing great teams behind the tech-driven businesses from the region since 2011.
Open Circe Capital is a venture fund management company focusing on early-stage Lithuanian start-ups in Deep-Tech, ICT and robotics technologies.
Techstars Toronto is part of Techstars accelerator network, which provides 3-month startup accelerator programs around the world, up to $120,000 in funding, and mentorship. Techstars Toronto is supported by Real Ventures.
Join our team
To accelerate the development of the AI travel assistant, we are looking for talented software engineers to join Eddy Travels. To learn more, please visit the Eddy Travels Careers page.
Eddy Travels is an AI travel assistant with the best travel deals just a message away. Over 4 million users worldwide chat with the AI assistant to get the cheapest and most convenient flight, hotel, and apartment offers in seconds. Cutting-edge technology for natural language understanding (NLU) and personalization is powering the Eddy Travels artificial intelligence chatbot.
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