Tours and activities startups continued to raise significant amounts of cash despite the pandemic, Arival research has shown.
According to publicly available information, 19 companies raised $493M between March 2020 and April 2021.
Members of Arival Insiders Free and Insider Pro Access can download the full report here.
Hong Kong-based Klook and Berlin’s GetYourGuide took the lion’s share of the investment over the time period, with $200M and $133M, respectively. Between them, they received 68% of the total funding.
They were followed by KKday in Taiwan, who received $75M. KKDay and Klook have both been investing in the growth and digitalization of tours and activities across the Asia Pacific region, with the launch of reservations systems for tour and attraction operators.
These three companies shared more than four-fifths of the total funding raised through the pandemic.
Arival collected this information through media reports, online databases of venture funding, and interviews with companies. Many companies have raised smaller, undisclosed rounds since March 2020 to see them through the pandemic, but would not disclose the amounts.
Arival’s The State of Startup Funding for Tours & Activities report examines 60 startups by funding, business type, and region.
Most investment across the sector has been directed towards online travel agents. OTAs account for 93% of the pandemic investments, with reservation systems, B2B distributors and self-guided tour platforms taking the remaining 7%.
Asia is leading the market in fundraising with 66% of funds, followed by 30% to companies in Europe and just 4% in North America.
Download your free copy here to delve into the state of startups in tours, activities and attractions.