Travel tech startup Comtravo has raised €8.5 million in its Series A round led by Project A and Creandum.
The Berlin-based company’s platform utilises AI and natural language processing to manage booking and travel information for business, based on previous behaviour and text requests. Its target customers are small to medium sized companies. It will be using the new funds to accelerate product development, having already automated 35% of travel requests, it claimed.
“It makes no sense at all that very well-trained travel agents are concerned about simple standard requests, as it is the case in many classic travel agencies,” said Michael Riegel, CEO of Comtravo, which previously raised an undisclosed seed round.
“Much of the innovation that already exists in the leisure travel market is still missing in the business travel market. Comtravo has the strongest team in artificial intelligence and travel technology to revolutionize business travel,” said Simon Schmincke, principal at Creandum.
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