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Lufthansa Innovation Hub marks 10th Anniversary with new venture clienting arm, venture launch and latest Startup Spin-Off
This summer, the Lufthansa Innovation Hub (LIH), the key driver for innovation for the entire Lufthansa Group, celebrates its 10th anniversary. Founded in 2014, the Berlin-based Hub has evolved from a small team of entrepreneurs - from the startup tech ecosystem and with Lufthansa Group background - into a 60-strong powerhouse at the forefront of industry innovation. As LIH marks this milestone, it announces three strategic initiatives that highlight its ongoing commitment to pioneering the future of travel and aviation. Lufthansa Innovation Hub launches future-bound projects With ‘Startup Gate,’ LIH has established a dedicated venture clienting platform that connects the Lufthansa Group with cutting-edge startups. This platform enables the Group to adopt startup technologies swiftly, facilitating lean and cost-effective collaborations. Since its soft launch earlier this summer, four partnerships have already been established, including a notable collaboration between Lufthansa Ground Operations and robotics startup Ottomy at Munich Airport. Additionally, LIH is introducing a machine learning-driven project called Pendle aimed at reducing onboard food waste. By leveraging algorithms that analyze data points such as flight duration, route, and historical consumption patterns, this initiative ensures more accurate provisioning, minimizing waste and associated costs while enhancing passenger satisfaction. The newly spun off venture Cosmos focuses on enhancing collaboration between airlines and ground handling service providers. By utilizing machine learning for advanced data analytics, Cosmos aims to identify and address issues faster, ultimately reducing delays and improving customer satisfaction across the aviation industry. The Cosmos spin-off demonstrates LIH's successful strategy in creating and scaling ventures that appeal to investors, founders, and customers within the travel industry. A Decade of Innovation and Impact Reflecting on the past decade, Xavier Lagardère, Managing Director of Lufthansa Innovation Hub, notes, “Our journey over the past ten years has been one of continuous evolution. While we've evolved and expanded, our core values and approach have remained consistent. Our outside-in perspective sets us apart, enabling us to analyze emerging trends, technological advancements, and shifts in customer behavior, and leverage these insights to drive impactful strategies for the Lufthansa Group. We then quickly and decisively translate these insights into actionable business opportunities. This mindset has not only guided us through times of crisis and uncertainty, but has also enabled us to create real value, again proven by our latest spin-off, Cosmos.” LIH has been consistently pushing the boundaries of innovation within the Lufthansa Group and beyond. Notable milestones include the launch of a taxi-sharing service for passengers at Munich Airport in 2018 and the Changemaker Challenge in partnership with Uber, Google, and Expedia, which identified startups advancing sustainable travel solutions. Sustainability has been a key focus area for LIH since 2018 when it established a strategic framework for environmentally responsible innovation. This has led to successful ventures such as the carbon offsetting platforms Compensaid (2019) and Squake (2021), as well as the Green Mobility Trainee program (2022), which fosters industry-wide sustainable transformation. Another venture that looks into more sustainable modes of transportation is the mobility platform NAVIT (2021). The Hub has also prioritized sharing its insights with a broader audience. The launch of tnmt.com in 2018 and its accompanying newsletter has provided deep-dive analyses on key trends and developments in the travel and mobility sector, further solidifying LIH’s role as a thought leader. Recent publications explore the likelihood of cities hosting air taxi services and the potential of robotics in aviation, highlighting the innovative shifts that could reshape the industry. Looking towards the corporate parent, LIH has developed transformation initiatives to embed innovation within the Lufthansa Group’s culture. The "Digital Innovation Ascent program" and the "neXus innovation platform" are key examples of how LIH empowers employees to embrace innovative thinking and practices. Xavier Lagardère: “We look forward to the next ten years and will continue pioneering the future of travel and aviation. Our commitment remains steadfast—to push the boundaries of what’s possible, to forge strong partnerships with visionary startups, and to deliver meaningful innovations that enhance the Lufthansa Group and the industry as a whole. As we move forward, we will continue to embrace change, and harness the power of technology to create a more connected, efficient, and sustainable travel experience for all.”
Travel startup funding rebounds: Faye secures $31 million in Series B round
After a challenging period during which travel startup funding had largely dried up due to the COVID-19 pandemic, the sector is seeing a resurgence in investment. Notable recent rounds include Guesty’s impressive $130 million funding, Cover Genius’ $80 million raise, and Canary Technologies’ $50 million announcement in June. While this month has been relatively slow for new funding, significant movements are still happening. In a notable development, US-based travel insurance startup Faye has successfully raised $31 million in Series B funding, increasing its total capital to $49 million. This round was spearheaded by Portage, a prominent global investment platform, with additional contributions from Lumir Ventures, F2 Venture Capital, Viola Ventures, and Munich Re Ventures. The latter also led Faye’s Series A round in 2023, which garnered $10 million. Since its inception in 2022, Faye has continuously evolved its travel insurance app to include a range of enhanced features. The platform now offers worldwide telemedicine services, comprehensive destination vaccine and health mandate information, accelerated claim resolutions, 24/7 assistance, real-time trip monitoring, and advanced fintech solutions for payments, reimbursements, and savings. With this latest infusion of capital, Faye plans to expand its operations across its insurance, travel, and fintech services. The company will also focus on scaling its United States headquarters in Virginia and further developing its offices in New York, Florida, and California. Elad Schaffer, Faye’s co-founder and CEO, expressed enthusiasm about the company’s growth trajectory: “We are excited to move into a new phase of growth, creating a robust platform for looking after travelers throughout their entire journey. Those hitting the road with Faye will receive the best insurance experience with our tech-driven holistic coverage and care that enables smarter and smoother trips through personalized travel and financial solutions.” Faye is also looking to forge new partnerships with brands, travel agencies, and distribution partners, aiming to expand its influence and reach in the travel insurance industry. Stephanie Choo, partner at Portage Ventures, highlighted the potential in this market: “This is an under-served and often overlooked market with untapped value to capture. Portage remains bullish as ever on the next generation of fintech companies, and we are excited to back the team in their journey to build Faye into one of the world’s largest platforms dedicated to looking after travelers’ needs.”
Seed Group partners with South Korean hospitality tech startup ONDA
Seed Group, a leading company under the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, has taken a significant step towards revolutionising the travel industry in the Middle East and North Africa (MENA) region through its strategic partnership with Seoul-based hospitality tech startup ONDA. With a strong presence in South Korea, Thailand, and Taiwan, ONDA is transforming the labor-intensive hospitality industry with digital and data. ONDA supports the continuous growth of the hospitality industry, providing both digital transformation solutions and B2B platforms that enable properties around the world to increase their online sales and operational efficiency. Hisham Al Gurg, CEO of Seed Group, expressed his excitement about this partnership, saying, “We are delighted to collaborate with ONDA, a forward-thinking hospitality technology company with an impressive track record. Seed Group is committed to identifying and partnering with innovative companies that can bring positive changes to the Middle East market. ONDA's expertise and technology will undoubtedly redefine the landscape of the MENA travel industry, enhancing the guest experience and operational efficiency for accommodations across the region.” “We are incredibly enthusiastic about our partnership with Seed Group, a pivotal advancement in ONDA’s global journey. This venture not only symbolises a significant opportunity for us to showcase our leading-edge hospitality technology but also marks the beginning of providing our innovative solutions to newly launching hotels in the MENA region. We are confident that this collaboration will redefine the hospitality landscape, underscoring ONDA’s commitment as a key driver behind the industry’s technological evolution.” Established in 2016, ONDA embarked on its journey as a B2B hospitality tech startup. ONDA now distributes 700,000 properties from vacation rentals to luxury hotels and resorts across 60 online channels globally. ONDA also drives digital transformation in the hospitality industry, providing operational solutions to more than 4,500 properties worldwide. In recent years, ONDA has successfully led digital transformation from operations to online sales for premium hotels and large resorts, gaining acclaim in the Korean and Southeast Asian hospitality industry. This partnership signifies a significant milestone in ONDA's global expansion strategy, providing them with a gateway to the Middle East and an opportunity to create valuable connections for their continued success in Dubai and the broader Middle East region. As a part of Seed Group’s vast network and influence in the technology, healthcare, hospitality, and telecommunications sectors, ONDA will gain access to critical resources and a strategic platform to navigate the MENA market successfully. Seed Group is a prominent presence in the Middle East's technology, healthcare, hospitality, and telecommunications landscape, with over 20 years of forming successful strategic alliances with leading global companies representing diverse regions. These collaborations have been instrumental in accelerating sustainable market entry and establishing a significant presence within the Gulf Cooperation Council countries. With ONDA's groundbreaking technology and Seed Group's extensive experience in the MENA region, this partnership is set to reshape the hospitality industry in the Middle East and North Africa. Together, they aim to enhance the guest experience and empower accommodations of all sizes with the tools they need to succeed in the ever-evolving travel industry.
LIBF Expo 2024 Unprecedented Showcase of Global Innovation, Startups and Commerce
LIBF Expo, 2024 - being held at the Helipad Exhibition Centre, Gandhinagar, Ahmedabad, Gujarat from 18th to 21st January 2024, aims to create a unique platform- where top professionals as well as businessmen and women and Government Representatives from more than 30 countries across the globe will be present and exhibiting as well as showcasing their services and products. It is perhaps for the first time in India that such a vast exhibition, encompassing more than 34 industries will be under one roof. This will not just be an exhibition but will be an experience which will enrich and enhance the businesses not just in India but across the entire globe. LIBF expo 2024 would serve as a one-stop platform for connecting various global businesses for building relationships and creating opportunities and value. LIBF expo 2024 is an initiative by the Lohana Business Development Committee, which enjoys partnership as well as patronage of large, international business leaders, global government bodies, industry leaders and experts will converge under one roof for various types of products and services. Government/semi government bodies from many countries across the world will be participating in LIBF expo 2024. LIBF Expo 2024 has garnered significant interest and participation from esteemed companies such as Euro Exim Bank, Vinmart, Ravin Group, Dharmadev Infrastructure Ltd., Iscon Group, Madhvani Group, among several others. This diverse assembly of industry leaders underscores the expo's status as a magnet for global business and cultural exchange. According to Satish Vithalani, President of Lohana Mahaparishad, and Chairman of LIBF: “LIBF expo 2024, conjoined with vibrant Gujarat, strives to grow and foster inter and cross-border transactions between various businesses and pledges to drive progress and prosperity both for exhibitors as well as visitors. The overwhelming success of LIBF 2023 Africa Calling conference held at Uganda, and the rich results that arose from the conference which saw the signing of numerous MOUs. This spurred us now to strive for a much bigger and more focused platform to engage with the people who have the products and services and are looking to enhance their markets.” LIBF Expo 2024 resonates completely with the ideology of the government, which means inclusive development. Sabka Saath Sabka Vikas. LIBF expo 2024 will cater to the biggest industries in the segment as well as small start-ups, Mahila Udyog as well as the youth who have ideas but are looking for connect. According to Vijay Karia, chairman of Lohana Business Development Committee as well as director of LIBF says: “This four-day high-level event would serve as a unique platform for uniting businesses of over 30 countries under one roof. We are happy to state that exhibitors include large business houses, professionals, start-ups, banks and financial institutions, various Government bodies, thought leaders, and investors. LIBF Expo 2024 is a unique gathering of diverse businesses from various sectors who gather to exchange ideas as well as to explore investment and trade opportunities.” LIBF, is an initiative by the Lohana Business Development Committee with an aim to explore, engage and expand business and brand opportunities of its members. It would be providing opportunities for investment as well as enhancing trade relationships. LIBF Expo 2024 is a unique gathering of diverse businesses from various sectors to win Sabka Vishwas.
Velocity Ventures and KTO sign MoU for co-operation with Korean Startup Accelerator for Travel & Tech
Singapore-based hospitality & travel-focused venture capital firm Velocity Ventures has finalised a Strategic Innovation Partnership with Korea Tourism Organization (KTO) to support companies working with the Korea Tourism Startup Center (KTSC) in Singapore to expand their footprint across Southeast Asia. The signing of the Memorandum of Understanding between Kim Young Hee, Director of KTO Singapore and Patrick Imbardelli, Founder and Chairman of Velocity Ventures reinforces the commitment by both organisations to support innovation growth for the travel and hospitality industry in Southeast Asia. Velocity Ventures has also announced its first Korean tourism startup investment recipient – Tripbtoz, a Web3 based Online Travel Agency (OTA) that integrates community and commerce features with user-generated short-forms serving a market that is gravitating towards video content. Tripbtoz’s travel video ecosystem aggregates user generated content (UGC) video reviews of hotels and tourist attractions created by travellers. The platform rewards users with loyalty currency and discount coupons when bookings are made via referral links. To date, over 500,000 UGC’s have been collected, allowing hoteliers and other travel destinations to use the UGC resources as marketing content. Founded in 2017 by CEO Jiha Jung, Tripbtoz has emerged as an Online Travel Agency (OTA) industry disruptor integrating community and commerce functions, and demonstrating robust financial performance. Kim Young Hee,Director of Korea Tourism Organization Singapore, said, "Singapore's strategic significance as a regional launchpad for Korean tourism startup cannot be overstated. The leadership team at Velocity Ventures, with their wealth of expertise and unwavering support, are an invaluable guiding force for emerging Korean tourism startups collaborating with the Korea Tourism Startup Center (KTSC) in Singapore as they expand their footprint across Southeast Asia." “With a major mobile app redesign scheduled for later this year, we plan to fully localize our sales and marketing through the establishment of an entity to oversee the Southeast Asia market,“ said Jiha Jung, CEO and Founder of Tripbtoz. “We have direct contracts with 3,000 hotels in South Korea and Japan and our next stage of growth is to expand our reach and help hotels in Southeast Asia engage with our user communities. Travellers can use Tripbtoz at every stage of their travel: From travel inspiration to reviews or to upload memories, Tripbtoz unlocks the power of community and commerce with our UGC video content eco-system. We are confident that social content travel storytelling will be how Generation 2030 travellers ‘play, share, stay’”. Nicholas Cocks, Managing Partner at Velocity Ventures said, "Investing in the flourishing tech startup ecosystem in Southeast Asia's travel industry isn't just about nurturing innovation; it's about propelling the future of travel. By supporting these dynamic Korean tourism startups spearheading technological advancements here in Southeast Asia, we hope that they can help solve the biggest pain points in the industry. Embracing change isn't just a choice; it's the path to shaping the future of travel." Since its inception in 2020, over 90 Korean startups have participated in KTO’s Tourism Startup Global Challenge Programme, an initiative designed to empower Korean tourism startups to venture into overseas markets, receive grants and industry support to unlock access to business partners. Velocity Ventures played a vital role in the selection process of the 2023 winners of the StartUp Global Challenge Programme where winners have access to a support ecosystem at Korea Tourism Startup Center in Singapore. As an affiliate partner, Velocity Ventures also helps mentor Korean tourism startups in the programme.
TIS – Tourism Innovation Summit selects the top 40 startups impacting tourism worldwide
A dozen startups have been recognised at the Touristech Startup Fest 2023, the global entrepreneurship competition hosted every year by TIS - Tourism Innovation Summit. The event, which has positioned itself as the key event for the tourism and technology entrepreneurial ecosystem, has received more than 4,000 applications from startups from countries such as Spain, Austria, Belgium, Germany, Italy, the Netherlands, Norway, Portugal, Sweden, the United Kingdom and the United States. During the Touristech Startup Fest, 40 startups were selected as finalists to make their traditional elevator pitch to captivate companies and investors from different segments of the tourism industry: Distribution Channels, Destinations, Hospitality, Mobility & Travel, Activities & Leisure and MICE. This year, a dozen startups won awards in different categories. One of them was iUrban, which received the Andalucía LAB Award for Ciceron, a tourism platform with artificial intelligence that uses ChatGPT to personalise the tourist experience and works as if it were a 24/7 tourist office in more than 94 languages. For its part, Hotelverse won the CaixaBank Award for a project that revolutionises the model for booking rooms and hotel services prior to the stay: a digital twin of the hotel that allows guests to have a complete experience and control of their booking: from flying over the hotel, exploring its facilities, personalising a specific room to the maximum and booking it. Another winner was the startup BuscoExtra, which was recognised with La Fábrica de Sevilla Award for providing hoteliers with a technological solution that allows them to hire a worker in 2 hours including all the procedures for registering and signing the contract anywhere in Spain. The Telefónica Award also went to the Hospitality sector rewarding Aphy, a robotic process automation tool in the sector, which facilitates the integration of systems and operational optimisation of hotels with a fully managed service. For its part, the PCT CARTUJA Award has distinguished DNA – Digital Nomads Association Portugal, an association created in 2022 to promote Portugal to attract digital nomads, through the creation of hubs, events, communities and promotion of destinations with ideal conditions for remote work. The startup Ruuts.travel won the WTTC Award. It is the first Eastern European RV rental marketplace with a focus on sustainability - the first Eastern European RV rental marketplace with a focus on sustainability that responds to the growing trend of motorhome and the desire of users to travel more responsibly. Moreover, Curated Planet, "the Uber of travel", won the NEBEXT Award for free participation in TIS2024. The startup provides a centralised communication and location platform for tour operators, sharing information to facilitate tour operations and automating the distribution of welcome messages, disclaimers, travel documents, tips, surveys, feedback collection and cross-selling. Finally, La Salle Technova has distinguished the initiatives of three different startups. Among them is Passporter, a technological tool that accompanies tourists in all phases of the journey, creating a community that plans, shares and inspires with their experiences and travel itineraries. It also awarded Turbosuite, for an initiative that combines data analysis, artificial intelligence and the experience of experts to facilitate the revenue management of accommodations and maximise their profitability. The third winner was Visionary Hospitality for the creation of Sigho, an intelligent system made up of different solutions for complete hotel management: from customer relations to event management, point of sale, accounting, ordering, etc
Velocity Ventures and Korea Tourism Organisation sign memorandum of understanding for co-operation with Korean startup accelerator for travel & tech
Singapore-based hospitality & travel-focused venture capital firm Velocity Ventures has finalised a Strategic Innovation Partnership with Korea Tourism Organization (KTO) to support companies working with the Korea Tourism Startup Center (KTSC) in Singapore to expand their footprint across Southeast Asia. The signing of the Memorandum of Understanding between Kim Young Hee, Director of KTO Singapore and Patrick Imbardelli, Founder and Chairman of Velocity Ventures reinforces the commitment by both organisations to support innovation growth for the travel and hospitality industry in Southeast Asia. Velocity Ventures has also announced its first Korean tourism startup investment recipient – Tripbtoz, a Web3 based Online Travel Agency (OTA) that integrates community and commerce features with user-generated short-forms serving a market that is gravitating towards video content. A next-generation travel platform Tripbtoz’s travel video ecosystem aggregates user-generated content (UGC) video reviews of hotels and tourist attractions created by travellers. The platform rewards users with loyalty currency and discount coupons when bookings are made via referral links. To date, over 500,000 UGC’s have been collected, allowing hoteliers and other travel destinations to use the UGC resources as marketing content. Founded in 2017 by CEO Jiha Jung, Tripbtoz has emerged as an Online Travel Agency (OTA) industry disruptor integrating community and commerce functions, and demonstrating robust financial performance Kim Young Hee, Director of Korea Tourism Organization Singapore, said, "Singapore's strategic significance as a regional launchpad for Korean tourism startup cannot be overstated. The leadership team at Velocity Ventures, with their wealth of expertise and unwavering support, are an invaluable guiding force for emerging Korean tourism startups collaborating with the Korea Tourism Startup Center (KTSC) in Singapore as they expand their footprint across Southeast Asia." “With a major mobile app redesign scheduled for later this year, we plan to fully localize our sales and marketing through the establishment of an entity to oversee the Southeast Asia market,“ said Jiha Jung, CEO and Founder of Tripbtoz. “We have direct contracts with 3,000 hotels in South Korea and Japan and our next stage of growth is to expand our reach and help hotels in Southeast Asia engage with our user communities. Travellers can use Tripbtoz at every stage of their travel: From travel inspiration to reviews or to upload memories, Tripbtoz unlocks the power of community and commerce with our UGC video content eco-system. We are confident that social content travel storytelling will be how Generation 2030 travellers ‘play, share, stay’”. Nicholas Cocks, Managing Partner at Velocity Ventures said, "Investing in the flourishing tech startup ecosystem in Southeast Asia's travel industry isn't just about nurturing innovation; it's about propelling the future of travel. By supporting these dynamic Korean tourism startups spearheading technological advancements here in Southeast Asia, we hope that they can help solve the biggest pain points in the industry. Embracing change isn't just a choice; it's the path to shaping the future of travel." Since its inception in 2020, over 90 Korean startups have participated in KTO’s Tourism Startup Global Challenge Programme, an initiative designed to empower Korean tourism startups to venture into overseas markets, receive grants and industry support to unlock access to business partners. Velocity Ventures played a vital role in the selection process of the 2023 winners of the StartUp Global Challenge Programme where winners have access to a support ecosystem at Korea Tourism Startup Center in Singapore. As an affiliate partner, Velocity Ventures also helps mentor Korean tourism startups in the programme.
Travel AI startup, Globaleur, raises 2.5m USD to connect end-to-end experience
South Korean travel tech startup, Globaleur, has raised US$ 2.5 million in their pre-series A round and recently completed setting up an office in Singapore as part of their expansion plans for SEA. David C. Lee and Grace Wang founded Globaleur in 2017. The duo designed the Globaleur engine to leverage AI solutions, to solve the issue of the fragmented travel industry by connecting the end-to-end travel experience. Their vision has attracted renowned VC firms such as SeaX Ventures, Knet Investment Partners, Big Basin Capital, and Primer Sazze based in San Francisco and Seoul. Together, they have recently concluded their pre-series A round, raising US$ 2.5 million on 29 September. “There is a mega trend in AI-powered personalization across multiple industries, and travel, now recovering from COVID, will catch on to this trend. We decided to invest in Globaleur since it’s one of the first companies to apply such technology to help airlines, hotel chains, TMCs, OTAs, and government-operated tourism boards offer a seamless travel experience to their end users while personalizing offers & itineraries for both leisure and business travellers.” Says Dr. Supachai Kid Parchariyanon, managing partner of SeaX Ventures, co-founder and CEO of RISE. Globaleur addresses bridging the gap in the travel experience through 3 key components; pre-flight, in-flight, and in-destination. Globaleur’s AI Personalization Engine maps out user preferences across the board. From destinations and flights, their interactions with in-flight entertainment systems in the air, and preferences for activities on the ground. Globaleur presents users with a complete overview of their trip for a hyper-personalised traveller experience. The Korea Tourism Startup Center (KTSC) has been working with Globaleur before their pre-series A round to lay the groundwork for expansion in Singapore. KTSC’s efforts have led to talks between Changi Airport Group and Globaleur. Mr. Jang Min Jun, Deputy Director of KTO Singapore, who is in charge of KTSC says: “Globaleur’s solutions have the potential to improve Singapore’s travel digital infrastructure. KTSC is connecting them with key stakeholders in the industry, and we are excited to be part of their global growth.” As the global tourism industry is recovering, Globaleur has gained a lot of momentum in the market and is receiving heavy interest from global FSC (full-service carrier) airlines, government-operated tourism boards, airports, hotel chains, and some of the largest commercial banks in the APAC region. Their growth has skyrocketed along with the market recovery and expects to grow their annual recurring revenue by 6x with more than 5M in monthly active users. “Singapore plays a huge role in our business strategy heading into 2023. KTSC has been a big part of that push, helping us fast-track the discussion with Changi Airport Group by putting us in touch with the relevant business contacts in Singapore and saving us months in our sales cycle. We foresee our collaboration with Singapore’s travel industry serving as a regional benchmark in the near future.” Says David. Riding the momentum, Globaleur recently completed setting up its Singapore office. This initiative will be headed by Globaleur’s top talent globally and position Singapore as the gateway to the rest of SEA.
Startups laid off nearly 77,000 employees in 2022
A wave of layoffs has swept across the globe as companies struggle with slower business growth and rising labour costs. Thousands of companies have been forced to reduce costs and cut down their staff; startups are no exception. According to data presented by TradingPlatforms.com, startups laid off nearly 77,000 employees in the nine months of the year. Food and Transportation Industries the Worst Hit; Most Layoffs in May, June, and July The mass job cuts in 2022 came after startups were still recovering from the Covid-19 hit, which brought the first huge wave of layoffs. As our charts based on data from Layoffs.fyi shows, between January and April, startups reported nearly 13,900 job cuts. However, the number of layoffs exploded in May, the worst month to date, with another 17,000 people losing their jobs. A massive wave of layoffs continued in the next two months. Statistics show startups let go around 16,660 members of their staff in June and another 16,200 in July, or over 40% of the total job cuts to date. In August, the number of layoffs slightly dropped but still hit 12,800. With nearly 11,000 job losses in this period, the startups in the food industry have taken the hardest hit. The transportation sector ranked second, with almost 8,700 job cuts. The retail, healthcare, and finance industries follow with 7,800, 7,200, and 7,000 layoffs, respectively. US Companies Made 55% of All Reported Job Cuts The Layofs.fyi data showed US companies had a huge role in the latest wave of layoffs. In fact, more than half of all reported job cuts in 2022 came from the United States. In the nine months of the year, US startups laid off 42,700 employees. The layoff figures for the last three years are much worse. Statistics show that startups in the United States have made over 103,000 job cuts since 2020. India ranked as the second country on this list, with a total of 25,300 layoffs in this period. In comparison, Chinese startups reported 4,400 layoffs between January 2020 and September 2022. UK companies let go over 3,700 employees in this period, almost 1,400 more than German startups. The Layoff Tracked data also revealed that Getir made the biggest layoff this year. The Turkish delivery startup made 4,480 job cuts, or 14% of its total workforce. The US online mortgage provider, Better.com ranked second with 3,000 reported layoffs in 2022. Two other US companies, Peloton and Groupon, follow, with 2,800 job cuts each.
Travel tech startup Vacaay appoints Catherine Stevens as APAC Regional Director.
Catherine Stevens is a travel media veteran and is delighted to be re-entering the industry after her pre-COVID hiatus. After ten years as the Victorian Manager & Publisher of Morris Media Network, her wealth of knowledge and results-driven performance is a welcome addition to Vacaay’s team. Although Melbourne based, Singaporean Catherine is no stranger in the APAC region. Her previous media experience crossed leisure-travel, print and digital sales, including an ancillary role with the Where Magazine international network. Vacaay Director Anthony Gallagher said, “I'm delighted to welcome Catherine to our team, having worked closely with her in previous roles. Given her experience and extended network in hospitality and travel, I’m confident she can build upon Vacaay's strong foundations in the APAC region”. Ms Stevens is also a Les Clefs d'Or International Honorary Member and the Secretary of the Australian chapter of The AICR (Amicale International des Sous Directeurs et Chefs de Reception). Vacaay is introducing a new suite of tools catering to hotels and resorts, and Ms Steven's experience and direction arrive at a renewal epoch. With a timely entry into the market, Vacaay allows marketers to reboot their destination and products in the most cost-effective, transparent way, with industry-leading user engagement and direct bookings.
Travel Tech Asia 2022: 19-21 October, Marina Bay Sands Singapore
Travel Tech Asia is a must-attend event for all Travel Tech industry professionals. We gather people and companies who are looking to showcase their innovations, explore new business frontiers, sign deals, discover latest travel technologies and network with like-minded individuals. Join us at Travel Tech Asia to establish high-quality contacts and generate potential leads for your business.
Techsauce Virtual Summit 2020
Techsauce Virtual Summit 2020 launches in lieu of original conference due to COVID-19. Techsauce Global Summit to bring positivity and insight to the masses as it hosts new online conference with world-class speakers