Until now, the hotel industry has been one of the fields that has not dealt with the large-scale transition to digital services. Guests, their requests and orders were managed either on paper or using several non-cooperative tools. The Balkan startup OTA Sync with the support of Czech money wants to take advantage of the changes that the industry is now jumping on. Check out the Telegraph’s summary of the new startup investment.
Invested startup: OTA Sync based in Estonia.
Who invests: České Presto Ventures, which also leads the round with a share of 500 thousand dollars (11.4 million crowns). Alongside it, Katapult Accelerator, TS Ventures Fund, DSI Group of Business Angels, Startup Wise Guys and California Expert Fund DOJO.
How much and in which round: 1.3 million dollars (29.7 million crowns) in an extended seed round.
Startup headquarters: Tallinn, Estonia, with a team also in Serbia.
Founders: Djordje Jevtic, CEO (Serbia) and Ilija Milovic, CTO (Montenegro).
What the startup does: Cloud solution for managing hotels and other properties. It combines business, operation and administration itself with a reservation system and perhaps an application for guests.
How big is a startup: OTA Sync has over two thousand users in 17 countries and a team of 18 people. Officially, it is a Serbian-Estonian startup.
Why it’s interesting and what the potential is: Many hotels still do not manage their management using digital tools at all, or only to a limited extent, as they are not connected and have to work in several different systems. But they are aware of this and are switching to computer systems in a big way. According to estimates by Polaris Market Research, the market should have reached almost 13.7 billion dollars last year, and by 2030 the global sales of smart systems in the area of accommodation services should exceed 110 billion dollars. Czech founder Richard Valtro’s Mews came with a similar approach, whose value is close to the mythical unicorn, i.e. a billion dollars.
What the startup plans to use the investment for: For expansion in Europe and Latin America as well as for the development of new products.
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