TravelTech Lab, by HBX Group, launches an investment vehicle to foster innovation in the travel industry
HBX Group to invest up to 50 million euros in travel tech startups
Palma, Spain, 20 June 2024- HBX Group, a leading independent B2B TravelTech company, announced todaythe launch of an investment fund dedicated to financing startups and scaleups developing innovative technological solutions in the travel sector, as well as investing in corporate venture capital funds in the travel sector.
This investment fund is built on the success of TravelTech Lab, by HBX Group, created in 2023 to support and collaborate with startups and scaleup businesses in the travel tech industry, fostering a community dedicated to introducing groundbreaking solutions and facilitating their application in real business scenarios.
With the creation of this investment vehicle, TravelTech Lab by HBX Group, will further the company'smission of contributing to technological innovation in the travel sector. The fund will have an initial dedication of 50 million euros in capital to invest in the next 10 years.The specific investment in each selected startup will be defined on a case-by-case basis, ensuring that the most promising technologies receive the support they need to thrive. This strategic initiative underscores HBX Group's commitment to innovation, which has been at the heart of the company since its creation in 2001.
To date, TravelTech Lab has successfully partnered with over 300 startups across various markets, including Spain, France, the United Kingdom, Germany, the Netherlands, Singapore, and South Korea, and collaborates with leading organisations such as New York University's School of Professional Studies Jonathan M. Tisch Center of Hospitality and the Mastercard Tourism Innovation Hub. This collaborative effort has led to significant advancements in the travel sector, benefiting both the industry and travellers alike.
"The travel sector is in constant evolution, and only companies that innovate will remain competitive," said Nicolas Huss, CEO of HBX Group. "Our goal at HBX Group is to find solutions to unresolved challenges through innovation, thereby enhancing the customer experience. The creation of TravelTech Lab in 2023 was a significant step in this direction. Our investment fund will not only facilitate our access to future technologies but also promote the development of a global ecosystem of startups and scaleups in the travel sector," added Nicolas Huss. "We believe that by supporting these innovative companies, we can drive the next wave of transformation in the travel industry."
Since its founding in 2001, HBX Group has been a pioneer in the travel industry, dedicated to innovation and enhancing the customer experience. Through initiatives like TravelTech Lab, by HBX Group, and now it's new investment fund, the company continues to lead the way in solving the travel sector's most pressing challenges.
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About HBX Group
HBX Group is a global B2B TravelTech company that owns and operates Hotelbeds, Bedsonline and Roiback. We offer a network of interconnected travel tech products and services to partners such as travel agencies, tour operators, destinations, and hotels, as well as companies wanting to leverage the travel sector.
Our vision is to simplify the complex and fragmented travel industry through a combination of cloud-based technology solutions, curated data, and an extensive portfolio of products designed to maximise revenue. HBX Group is present in 170 countries and employs more than 3700 people around the globe. We are committed to making travel a force for good, creating a positive social and environmental impact.
More information:
HBX Group Media Contact
PR & Media Relations media@hbxgroup.com
