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January 23, 2014 01:00 pm GMT
GoEuro, one of a raft of European startups attempting to simplify the tangled web of transport booking systems us ‘Old Worldian’ Europeans have to navigate if we wish to travel across borders, has topped up its funding level with a new post-seed round “multi-million” dollar investment from Lakestar. It’s also announcedCharles Petruccelli, former President of Global Business Travel for American Express, as a new investor.TechCrunch understands the post-seed round is additive rather than essential for GoEuro, which is still maintaining a strong cash position at this point. The new funding round follows a $4 million seedfor the Berlin-based startup, led by Battery Venturesand Hasso Plattner Ventures in March last year. GoEuro launched a service to users in the U.K. and Germany last May. GoEuro said it will be using the new funding to expand the reach of its platform — which currently serves up transport info such as train, plane and coach timetable data, and estimated journey times for car trips, for travel in three European markets: namely the U.K., Germany and Spain. That market footprint is set to expand to seven by summer 2014 – mostly in Western Europe, according to CEO Naren Shaam. It seems likely that France will be one of GoEuro’s new markets (although he’s not naming the markets as yet), being as geographically it sits between its other operational markets, so any platform users wanting to travel between those countries by land transport are likely to need to make use of French rail and roads. GoEuro isn’t revealing the size of this latest investment but the challenge of making myriad hoary old transport systems play together on a shiny new platform — not to mention get transport providers to sign up — is undoubtedly a costly venture. “Because we need to get to such an extent of technology integration it’s not going to be easy,”” said Shaam. “Rome was not built in a day, we can only go country by country — because Europe has if anything hundreds of rail and bus providers… And we need to bring all of them on the same platform.” “The new funding will allow us to expand into all the new markets — but also the [new investors] bring a lot of previous experience,” he added. Currently GoEuro’s platform does not support booking — although that’s something it wants to add in future.At present, the platform covers 150 airports,
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/T3B5EMnZId0/
GoEuro Gets Multi-Million Top-Up From Lakestar To Add More Markets To Its Journey Planner Platform
GoEuro, one of a raft of European startups attempting to simplify the tangled web of transport booking systems us ‘Old Worldian’ Europeans have to navigate if we wish to travel across borders, has topped up its funding level with a new post-seed round “multi-million” dollar investment from Lakestar. It’s also announcedCharles Petruccelli, former President of Global Business Travel for American Express, as a new investor.TechCrunch understands the post-seed round is additive rather than essential for GoEuro, which is still maintaining a strong cash position at this point. The new funding round follows a $4 million seedfor the Berlin-based startup, led by Battery Venturesand Hasso Plattner Ventures in March last year. GoEuro launched a service to users in the U.K. and Germany last May. GoEuro said it will be using the new funding to expand the reach of its platform — which currently serves up transport info such as train, plane and coach timetable data, and estimated journey times for car trips, for travel in three European markets: namely the U.K., Germany and Spain. That market footprint is set to expand to seven by summer 2014 – mostly in Western Europe, according to CEO Naren Shaam. It seems likely that France will be one of GoEuro’s new markets (although he’s not naming the markets as yet), being as geographically it sits between its other operational markets, so any platform users wanting to travel between those countries by land transport are likely to need to make use of French rail and roads. GoEuro isn’t revealing the size of this latest investment but the challenge of making myriad hoary old transport systems play together on a shiny new platform — not to mention get transport providers to sign up — is undoubtedly a costly venture. “Because we need to get to such an extent of technology integration it’s not going to be easy,”” said Shaam. “Rome was not built in a day, we can only go country by country — because Europe has if anything hundreds of rail and bus providers… And we need to bring all of them on the same platform.” “The new funding will allow us to expand into all the new markets — but also the [new investors] bring a lot of previous experience,” he added. Currently GoEuro’s platform does not support booking — although that’s something it wants to add in future.At present, the platform covers 150 airports,Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/T3B5EMnZId0/
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