Hotel digital twin company Hotelverse, a PhocusWire Hot 25 Travel Startup for 2023, has closed its Series A fundraise with a €5 million investment to bolster technology development and foster expansion.
The round was led by GED Conexo Ventures, with participation from Faraday Venture Partners and Eoniq Fund and also from existing partners Sabadell VC and Archipelago Next.
Hotelverse creates “digital twins” of properties to allow travelers to virtually walk through a room, for example to understand the view or how much sunlight it receives, and then select the room of their choice during the booking process.
The company said the solution not only improves the guest experience but it can also enable hotels to increase conversions and drive more revenue given that guests may be inclined to pay more for the room of their choice. Hotelverse has already partnered with a number of hotel chains including Hyatt, RIU Hotels and Radisson Hotel Group.
“This investment allows us to focus on hotel deployments, aiming to grow from €2 million to €3.5 million in ARR [annual recurring revenue] over the next two years,” said Rafael Bover, co-founder and chief operating officer at Hotelverse.
“We are planning a new Series B round of €10 million with a U.S.-based VC [venture capital] by summer 2026.”