Joby Aviation recently closed the largest single round of funding for a flying taxi startup in years, receiving $500 million from Toyota. This investment aligns with Toyota’s goal of redefining itself as a “mobility company” and realizing the dream of air mobility for personal or daily travel. Joby Aviation is developing an electric air taxi for commercial service, with a top speed of 200 miles per hour, a maximum range of 150 miles, and space for a pilot and four passengers. The company envisions its aircraft being used in urban settings as a rideshare service and aims to begin air taxi services in Dubai by 2026.
Other travel startups have also announced successful fundraising efforts recently. Skyports, a company designing a vertiport ahead of Joby’s services in Dubai, raised $110 million earlier this year. Air Doctor, an app connecting travelers with health care providers, raised $20 million in series B funding. Aiello, an AI concierge for hotel guests, secured $5 million for further expansion. Odysee, a startup focused on helping airlines optimize aircraft scheduling, received $5 million in seed funding. Hotelverse, which creates digital copies of hotel layouts for guests to choose their rooms, raised $5.5 million in series A funding. Truely, an eSIM app, raised $3.5 million to expand its services to travel providers.
Joby Aviation has now raised a total of $2.5 billion in funding, with Toyota investing $894 million in the company. The funds will go towards the certification and commercial production of the electric air taxis. Joby has completed three aircraft in pilot production and is working on expanding its facilities to support this process. Toyota has been assisting Joby with production processes since 2019 and will supply key components for the aircraft production. The startup aims to revolutionize air mobility and streamline urban travel with its innovative aircraft design and rideshare services.
Air Doctor, a Tel Aviv-based app, has raised $20 million in series B funding to support the expansion of its network of health care providers for travelers. Aiello, based in Taiwan, has secured $5 million to enhance its AI concierge services for hotel guests. Odysee, founded and spun out by Alaska Airlines and UP.Labs, received $5 million in seed funding for its AI-powered platform focused on airlines’ route scheduling optimization. Hotelverse, a Spain-based company creating digital copies of hotel layouts, raised $5.5 million in series A funding to help hotels enhance their booking processes. Truely, a Singapore-based eSIM app, raised $3.5 million to expand its services to over 200 locations and offer them to travel providers for consumer use.
Overall, these successful fundraising efforts highlight the growing interest and investment in innovative travel startups aiming to revolutionize various aspects of the travel industry. With a focus on urban air mobility, health care connectivity for travelers, AI-powered concierge services, aircraft scheduling optimization, digital hotel room selection, and eSIM technology, these startups are shaping the future of travel convenience and efficiency. As the travel industry continues to evolve, these startups are at the forefront of innovation and disruption in their respective sectors, supported by significant investments from major companies and venture capitalists.
