Byway, a pioneering company in sustainable tourism, secures £5 million in a Series A funding round. This investment will enhance their AI-driven travel planning technology, JourneyAI.
- Since its inception in March 2020, Byway has witnessed year-on-year growth, reflecting a robust demand for sustainable travel options.
- JourneyAI, heralded as the first entirely flight-free holiday planner, integrates transport and accommodation data with dynamic trip customisation.
- Led by Heartcore Capital, the funding round includes contributions from prominent investors committed to sustainable travel innovation.
- Byway’s CEO Cat Jones expresses enthusiasm about collaborating with investors to advance flight-free travel innovations.
In a significant boost for sustainable tourism, Byway has successfully raised £5 million in an oversubscribed Series A funding round. This influx of capital is earmarked for the development of its groundbreaking travel planning technology, JourneyAI. The company’s commitment to eco-friendly travel solutions since its foundation in March 2020 has seen it grow exponentially, tripling its size year-on-year.
Byway’s JourneyAI technology is being lauded as the world’s first comprehensive flight-free holiday planning service. The platform merges intricate transport and accommodation data with content tailored to specific journeys, crafted to enhance traveller enjoyment rather than simply reduce travel time. Byway emphasises the importance of making the journey itself a key part of the holiday experience, offering a refreshing departure from conventional travel models.
The funding round was spearheaded by Heartcore Capital, a firm known for investing in innovative technology enterprises. They were joined by Eka Ventures, a proponent of sustainable consumer services, alongside a group of Byway’s previous angel investors. These included the HERmesa angel syndicate, impact investor Julia Davies, and former Saga Travel CEO Susan Hooper. This diverse group of backers signifies a strong belief in Byway’s eco-centric business model and future prospects.
Cat Jones, the CEO of Byway, was thrilled by the overwhelming interest demonstrated by investors in this round. “It was a delight to experience such overwhelming interest from investors enthusiastic about the future of flight-free travel when raising our Series A,” Jones remarked. The partnerships forged through this process are expected to empower Byway to further its mission of providing joyful, environmentally-conscious travel options.
Max Niederhofer, General Partner at Heartcore Capital, highlighted the firm’s sustained commitment to backing transformative travel initiatives. “We felt called to support Byway’s mission to make tourism both more fulfilling and sustainable, and believe that its technology will become a key pillar for the next generation of online travel,” Niederhofer said. This endorsement from a major venture capital player underscores the potential impact of Byway’s offerings in reshaping travel experiences.
Byway’s successful funding round marks a pivotal step towards advancing sustainable travel technology with significant industry backing.
