The 2015 edition of the pan-European startup contest Idea Challenge sees an increase in variety and internationality. The series of events re…
Photo credit: TourRadar, http://on.fb.me/1knyymk
The Austrian startup TourRadar announced a $500K funding. The group tour booking service took part in a TV challenge and got the investment by convincing the jury. Among the investors is the Austrian business angel fund Speedinvest.
Founded in 2010 by the Australian (no, we didn’t get it wrong) brothers Travis and Shawn Pittman, the online group-tour platform TourRadar has got their head office in Vienna. Travis, their CEO, took part in TV pitching challenge “2 Minutes, 2 Million” and succeeded in securing investors. TourRadar receives a 500.000 dollars funding and next to Austrian Speedinvest also the business angel fund AC & Friends is part of the round.
The online platform is a social marketplace for multi-day group tour travelling and allows its users to compare prices, search and book tours directly. Moreover, the service has a social component that allows travellers to get in touch and communicate with each other. While there are a handful of online travel agencies already, their concept of tour travelling is considered uncharted territory. „It is an interesting global market that is still undersupplied. Maybe the last part of online travel that hasn’t been digitalised,” Speedinvest’s Michael Schuster explained.
This is TourRadar’s second funding, having received the first one as a strategic Angel round in 2013. The Australian Pittman brothers aim to make group tour organisation as easy as possible and claim to be billing over 150.000 dollars gross revenue per month. Currently, TourRadar offers 20.000 tours in 222 countries worldwide.
Two Austrian startups announced their cooperation with the Vienna-based Life Ball, the biggest HIV and AIDS charity event in Europe. While Austro-American indoo.rs (along with blockhaus Vienna and StickNFind) provides a navigation app for the event, giveandstyle.com supports it with a charity share of their Life Ball branded phone covers.
© copyright inventures publishing GmbH 2011-2018