The startup of our investment portfolio continues to grow and aims to exceed €25 million by 2021.
Travel Appeal, the startup specialized in data science and artificial intelligence for professionals in the travel industry, has closed a new capital increase worth €3 million. The Series A round was subscribed by Indaco Ventures I, launched last May by Fondazione Cariplo, Fondo Italiano d'Investimento and Intesa Sanpaolo, with a total target size of over €200 million, of which €133 million already subscribed, and by Airbridge Equity Partners.
The new funds will be used for the further development of technology and the acceleration of the internationalization process. Today, the Travel Appeal artificial intelligence solution is implemented by over 4,000 customers throughout Europe, including hotels, restaurants, museums, retail and entire destinations. Travel Appeal’s goal is to increase the network of users and operates in countries involved in leisure and business tourism, with a diffused presence throughout Europe and in driving markets, such as Dubai. Travel Appeal aims to double the turnover year on year and exceed €25 million by 2021.
Travel Appeal, founded by Mirko Lalli in 2014 with our help, has developed its own artificial intelligence solution that collects and analyzes online travel data in real time, transforming that data into updated and immediately applicable strategies. These strategies are targeted for tourism operators to improve their online positioning and reputation, with a consequent positive impact on turnover and business operations. Travel Appeal has a total of 4 offices, two in Italy (Florence and Treviso), one in Amsterdam and one in London, and employs 30 people.