Travel tech startup FLYR raised $8 million in Series A funding

Source..Techcrunch Travel tech startup FLYR raised $8 million in Series A funding for technology that predicts the price of airfare by applying artificial intelligence to a database of both...

Source..Techcrunch

Travel tech startup FLYR raised $8 million in Series A funding for technology that predicts the price of airfare by applying artificial intelligence to a database of both open industry data and a proprietary collection of years of past prices and fluctuations.

The funding round was led by a Peter Thiel fund, and, according to an SEC filing, Thiel Capital principal Phin Upham was involved in the deal. The new round brings FLYR’s total capital raised to $13 million. (Its earlier seed funding came in two tranches totaling $4 million.)

FLYR faces competition from apps like Hopper, which tells users when is the best time to find and buy a ticket, or Options Away, which is a more direct competitor that enables airlines and other travel businesses to fire up fare locking on their platforms.

Alongside Peter Thiel’s fund, investors in FLYR’s Series A round included: JetBlue Technology Ventures, Streamlined Ventures, AXA Strategic Investors, Amadeus, Western Technology Investment, Plug and Play and Chasm Capital Management.

more can be read at ..https://techcrunch.com/2017/01/20/flyr-raised-8-million-to-change-the-way-we-buy-plane-tickets/

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Series ATechTravel
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