Saturday, July 13, 2024

AI Startup Scores $90M to Revolutionize Airline Pricing: Will Your Next Flight Cost Less?

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Fetcherr, an Israeli startup specializing in AI-powered dynamic pricing for airlines, has secured a substantial $90 million in Series B funding. The investment round was led by Koch Disruptive Technologies, with participation from existing investors and new backers including Maor Investments.

The company’s innovative technology utilizes artificial intelligence and machine learning algorithms to optimize airline ticket pricing in real-time. This approach aims to maximize revenue for airlines while offering competitive fares to passengers. Fetcherr’s system analyzes vast amounts of data, including historical pricing trends, competitor rates, and current market conditions, to determine the optimal price for each seat on a flight.

Founded in 2019 by Roy Cohen, Robby Nissan, Ori Nisman, and Shimi Avizmil, Fetcherr has experienced rapid growth since its inception. The startup has already formed partnerships with several airlines, including LATAM Airlines Group, one of Latin America’s largest carriers.

The fresh capital injection will be used to fuel Fetcherr’s expansion plans, including growing its team and enhancing its technology platform. The company aims to onboard more airlines and extend its reach into new markets globally. Additionally, Fetcherr plans to explore applications of its AI-driven pricing technology beyond the airline industry, potentially branching into other sectors such as hospitality and retail.

Fetcherr’s success comes at a time when airlines are increasingly looking for innovative solutions to improve their revenue management strategies. The COVID-19 pandemic has accelerated the need for more agile and data-driven pricing models in the aviation industry, as airlines seek to recover from the economic impact of travel restrictions and changing consumer behaviors.

The startup’s dynamic pricing solution offers airlines the ability to adjust ticket prices in near real-time, responding to fluctuations in demand and market conditions. This level of pricing flexibility can help airlines maximize their revenue potential and adapt quickly to changing market dynamics.

As Fetcherr continues to grow and refine its technology, the company is poised to play a significant role in shaping the future of airline pricing strategies. With its substantial funding and innovative approach, Fetcherr is well-positioned to capitalize on the increasing demand for AI-driven solutions in the aviation industry and beyond.

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