Byway to expand into new markets after securing £5 million fresh funding
Ilaria Grasso MacolaByway will grow its team and expand into new markets and regions after securing £5 million in fresh funding.
The slow travel specialist, which became B Corp Certified in December 2021, will use the money to add new roles across several departments – including in technology, product and finance – and open up new markets.
It will also allow the brand to speed up development of its AI-powered journey-planning technology, JourneyAI, which Byway claims is the world’s first 100% flight-free holiday planner.
Launched in 2021, JourneyAI integrates transport and accommodation data with journey-based content to package multi-stop holidays that steer away from tourist hotspots, such as Amsterdam.
The latest round of investment in Byway has been led by Heartcore Capital and early stage venture fund Eka Ventures. Byway founder and chief executive Cat Jones said she had been buoyed by investors’ enthusiasm for the future of flight-free travel.
"I’m thrilled we’ve found partners who believe in the joy of journey-based holidays and the potential of JourneyAI to change travel for the better."
Heartcore Capital general partner Max Niederhofer said the firm has for more than a decade been investing in businesses shaping the future of travel.
"We felt called to support Byway’s mission to make tourism both more fulfilling and sustainable, and believe that its technology will become a key pillar for the next generation of online travel."
Since its launch in 2020, Byway has grown three times year-on-year. Over the past few months, it has developed partnerships with Co-Op Holidays, CV Villas, First Choice, Exodus Travel and Intrepid Travel to offer customisable flight-free packages utilising rail, ferry and bus options.
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Ilaria Grasso Macola
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Place of registration: England and Wales.
Company number 08723341.
Registered address: 6th Floor, 2 London Wall Place, London EC2Y 5AU
