# UAB "Eddy Travels"

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/uab-eddy-travels

- Industry: Internet
- Headquarters: Vilnius, Lithuania
- Website: www.eddytravels.com
- Total disclosed funding: $1.2M
- Latest round: Seed (Apr 8, 2020)
- Investors on record: 3

## About

Eddy Travels is an AI-driven travel assistant that simplifies the booking process for flights, hotels, and car rentals, providing users with personalized recommendations for their travel needs.Founded in 2018 in Vilnius, Lithuania, Eddy Travels operates as an AI-based travel assistant. The company has undergone a significant change, having been acquired by TripAdd LLC in September 2022 from its previous investors, Open Circle Capital, Practica Capital, and Techstars. The firm has completed three deals to date, and its last funding round was a SEED round, raising EUR 0.600 mn with Practica Capital as the lead investor. The founder's background is not specified, but the company's formation and strategic direction focus on enhancing travel experiences through technology.Eddy Travels operates as an AI-driven travel assistant designed to streamline the booking process for flights, hotels, and car rentals. The core product leverages machine learning algorithms to provide personalized travel recommendations, enabling users to identify the best deals in real time. The company targets both individual consumers and businesses seeking to enhance their travel arrangements with automated solutions, particularly useful for frequent travelers and corporate clients looking to save time and resources on travel planning. Eddy Travels primarily serves markets in North America and Europe, establishing itself in the competitive global travel tech industry.Eddy Travels generated revenue of EUR 23,368.90 in 2023, with an EBITDA of EUR 1,540.20 for the same year. The company earns revenue through business-to-consumer (B2C) and business-to-business (B2B) transactions, establishing partnerships with travel service providers to earn commissions on bookings made via its platform. Clients can access services through subscription models or direct transactions for specific travel arrangements, catering to diverse clientele from casual travelers to corporate travel managers.The company has plans for future growth by enhancing its offerings and expanding its market presence. Following the acquisition by TripAdd LLC in September 2022, Eddy Travels aims to leverage the resources of its parent company to develop new products and solutions targeted for release in the upcoming year. Additionally, the company is exploring expansion into new markets beyond its current focus in North America and Europe, although specific regions have not been disclosed. The recent funding will be utilized to support these growth initiatives, enhancing technological capabilities and broadening the company's service offerings.

## Funding rounds

- Seed, Apr 8, 2020, $0.7M — Techstars, Practica Capital, Open Circle Capital
- Seed, Dec 23, 2019, $0.5M — Techstars, Practica Capital, Open Circle Capital

## Investors

- Techstars (https://capitalatlas.ai/funds/techstars) — Seed
- Practica Capital (https://capitalatlas.ai/funds/practica-capital) — Seed
- Open Circle Capital (https://capitalatlas.ai/funds/open-circle-capital) — Seed