Spain-based Caravelo secures €3.5M to expand its travel subscription services

Barcelona-based Caravelo, a travel-tech company that provides subscription solutions to the travel industry, announced on Thursday that it has secured €3.5M in a Series A round of funding. The investment was led by Samaipata, an early-stage founder’s fund investing across Europe, with the participation of Luxembourg-based Adara Ventures and other existing investors. Adara Ventures says its decision to expand its investment in Caravelo is influenced by several factors, including the growing demand for Caravelo’s solutions and the success stories of clients like Alaska and Volaris. Founded in 2015 by Iñaki Uriz and José Luis Vilar, Caravelo is a traveltech company providing subscription solutions to the travel industry, including airlines.