London-based flight-free travel tech startup Byway has raised €5.9 million in a Series A funding round led by Heartcore Capital. The fresh investment will enable Byway to expand its technology and grow its workforce.
- Founded in 2020 by Cat Jones, Byway develops a 100% flight-free travel platform offering customizable travel and accommodation packages using trains, buses, and ferries, with on-demand support via WhatsApp.
- Byway offers travel plans across more than 26 European countries using boats, trains, and buses. Since its inception, Byway has experienced year-on-year growth, tripling in size each year. Byway's customers save an average of 718 kg of carbon per trip compared to flying. Collectively, they have saved 3,045 metric tons of carbon, which is equivalent to planting 18,270 trees.
Details of the deal
- The Series A funding round for Byway was led by Heartcore Capital, a Copenhagen-based venture capital firm that invests in tech startups. Heartcore Capital, which has offices in Paris, Copenhagen, and Berlin, invests in tech startups and has a portfolio of 72 companies, including GetYourGuide, Travelperk, and Fora. The firm has successfully exited 61 investments, such as Simby, Traplight, and Cherryz.
“We felt called to support Byway’s mission to make tourism both more fulfilling and sustainable and believe that its technology will become a key pillar for the next generation of online travel. We are thrilled to be supporting another world-class European team in travel,” General Partner of Heartcore Capital, Max Niederhofer, stated.
- The recent funding round saw participation from Eka Ventures, a London-based venture capital firm focused on sustainable consumption. Several business angels also joined the round, including the HERMESA angel syndicate, impact investor Julia Davies, and former SAGA CEO Susan Hooper.
- The investment will enable Byway to expand its flight-free technology, grow its team, and enhance its regional offerings. This will further the mission of making flight-free travel mainstream, bringing two more supporters on board.
