Irish events and ticket platform Coras bags €1.3M: Know more

Dublin-based Coras, a startup that aims to transform the ticketing industry, has secured €1.3M in a fresh funding round led by VC firm DataOp.

Besides the funding, the Irish startup has also launched Fida, a web3 loyalty platform to facilitate tokenised commerce that allows customers to use their loyalty points with various brands.

The funds will help Coras to scale its tickets API product and the rollout of Fida.

Mark McLaughlin, CEO of Coras, says, “We’re delighted to partner with DataOp whose experience in building and scaling a successful fintech business will prove invaluable as we look to scale Coras and roll out Fida.”

What does Coras offer?

Coras offers a turnkey API solution that helps travel and e-commerce companies sell tickets for events and activities with the brands earning 75 per cent of the fee revenue.

The platform consolidates various ticketing systems into a single API, enabling sales across diverse geographies and event types, including music, sports, theatre, and tourist attractions.

Coras handles inventory, customer service, and supplier payments, allowing online brands to focus on attracting customers. Currently, the startup operates in 50 countries, 300 cities, and 20 languages and currencies.

In 2017, the startup raised €1.9M in funding led by the Atlantic Bridge University Fund with participation by Edge from U2, Hambro Perks, Elkstone Capital, and Dave Burke.

Brief about the lead investor

DataOp, co-founded by Derek Delaney, Paul Cahill, and Glen Magee, focuses on advancing data from static presentation to dynamic, actionable insights. As a sister company to ComOP, DataOp aims to optimise data and address global challenges related to limited human resources. 

The firm has invested nearly $20M in four companies leveraging machine learning and emerging AI technologies. 

Despite current challenges in the fintech sector, including high interest rates and economic volatility, DataOp positions itself as a key supporter for early-stage data optimisation companies seeking seed and expansion funding.

Speaking about the investment in Coras, Glen Magee, co-founder and Chief Financial Officer of DataOp, says, “We have been impressed with Mark and James, and Coras’ fortitude through a tough covid period for their industry. 

“This galvanised their determination and their phenomenal and growing client base is well deserved given the quality of platform, team and product we found on due diligence. We are grateful to Mark, James and the team for the opportunity to lead this investment round.”