{"id":94721,"date":"2024-08-12T00:00:00","date_gmt":"2024-08-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adia-backs-usd-900-mn-travel-startup-flyr\/"},"modified":"2024-08-12T00:00:00","modified_gmt":"2024-08-12T00:00:00","slug":"adia-backs-usd-900-mn-travel-startup-flyr","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/08\/12\/adia-backs-usd-900-mn-travel-startup-flyr\/","title":{"rendered":"Adia backs USD 900 mn travel startup Flyr"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>An Abu Dhabi Investment Authority (Adia) subsidiary has participated in a <\/strong><strong>USD <\/strong><strong>295 mn funding round for California-based travel startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/flyr.com\/\" style=\"\" rel=\"noopener\">Flyr<\/a><\/strong><strong>,<\/strong> according to a <a target=\"_blank\" href=\"https:\/\/flyr.com\/resource-hub\/flyr-raises-295m-to-rebuild-the-foundation-of-travel-technology\/\" style=\"\" rel=\"noopener\">press release<\/a>. Led by US investment firm WestCap, the funding round valued the company at USD 900 mn, <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2024-08-08\/travel-startup-flyr-raises-295-million-in-equity-and-debt\" style=\"\" rel=\"noopener\">Bloomberg<\/a> reports, citing people familiar with the matter. Other investors in the round included BlackRock and Streamlined Ventures.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong style=\"background-color: transparent;\">The breakdown: <\/strong><span style=\"background-color: transparent;\">The funding comprised USD 225 mn in a series D round and USD 70 mn in debt from Vista Credit Partners, and brings Flyr\u2019s total raised capital to date to USD 500 mn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where are the proceeds going? <\/strong>The startup plans to use the capital injection to develop its product offerings globally and accelerate \u201cmodern reservation systems that form the digital foundation for every airline,\u201d according to the statement <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead, <\/strong>Flyr, which has completed six acquisitions over the past two years, plans to continue its acquisition spree. \u201c[Flyr is] definitely keeping [its] ear to the ground to see if there are other opportunities on the horizon,\u201d CEO Alex Mans told Bloomberg. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About Flyr: <\/strong>Founded in 2013, Flyr develops AI-enabled softwares to help airlines price and plan flights, with a focus on improving revenue performance through forecasting, automation, and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Flyr is on the lookout for more acquisitions<\/p>\n","protected":false},"author":1,"featured_media":94722,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1557],"tags":[368,7,25,147],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-abu-dhabi-investment-authority","tag-enterpriseam-uae","tag-investment-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"1a75b325-f289-44ab-9af2-c1f5f296f258","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/849.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Abu Dhabi Investment Authority invests in Flyr","related_issue":[94712],"teaser":"Flyr is on the lookout for more acquisitions","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.7c61b8e3-84f6-4b54-a1bc-5eb16a991b83.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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