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Global tourism is considered to be one of the most valuable industries at present worth more than $7 trillion. With technology, more and more innovations are happening primarily on the online travel market with entrepreneurs focused on a wide-range of factors from business travel, logistics, medical care, consumer tourism, search and book, and hotel management.
Brimming with hospitality and travel startups!
Since the tourism industry is brimming with hospitality and travel startups, it can be hard for them to differentiate themselves from the crowd. In an attempt to stand out of the crowd, a new Berlin-based startup, COSI offers uniquely designed apartments for the modern traveller.
This platform provides a new category of lifestyle apartments, whether it is for a weekend city trip, business travel, or temporary home.
Picked up €5 million in seed funding!
Also recently, the hospitality platform secured €5 million in seed funding pre-launch. This round was led by venture capital firms Cherry Ventures and e.ventures, with participation from several travels, real estate, and hospitality entrepreneurs and experts.
Gerhard Maringer, the Co-Founder, said:
The hospitality industry faces the same tech challenges as banks, insurance, or retailers – mainly outdated tech stacks. Cosi creates end-to-end digital experience throughout the entire guest journey from initial contact to loyalty.
They include Nils Regge (founder of HomeToGo and Dreamlines), Gleb Tritus (MD Lufthansa Innovation Hub), Manuel Stotz (founder of Kingsway Capital), Mato Peric (founder of Immo), Andreas Brehmke, Loric Ventures, and Lions Venture.
Unique design and ‘coziness’ of home
To offer a full-stack hospitality service, the company signs a long term lease agreement with property owners and then furnishes those apartments itself to “control” the interior design experience. Thereafter, the company rent out apartments as hotel replacement.
Dimitri Chandogin, the Co-Founder, said:
Cosi’s model provides an attractive and carefree risk-rewards model for our real estate partners, always in compliance with city regulations.
This platform focused on travellers who want the quality assurance of a hotel along with the unique design and “coziness” of a personal home
Management team looks stronger than Avengers!
At present, COSI is building proprietary technology and data platform connecting hospitality services, real estate, and guest experiences.
In the past few months, the company has assembled a strong management team of real estate, hospitality, and, most notably, technology experts to create a new standard in hospitality. At present, the potential rivals are Sonder and Lyric from the U.S, who operates in a similar model.
Christian Gaiser, the Co-Founder, said:
Our mission is to reshape the entire guest journey, offering beautiful spaces coupled with seamless technology to delight our guests. The COSI model can be run a lot more efficiently than a traditional hotel.
Stay tuned to Silicon Canals for more updates in the tech startup world.