Stratajet Secures $8m Series A Funding
Stratajet, the online booking platform for private jets, has secured $8m in a deal led by Octopus Ventures bringing its total investment raised to date to $14m.
Existing investors JamJar Investments – the fund headed up by the founders of Innocent Drinks – and Playfair Capital also participated in the round.
Launched last month after five years in development, Stratajet enables users to find real-time and accurate private jet prices and is currently live in 44 countries across Europe.
Said to have generated two million flight quotes in just one month of going live, the start-up plans to use this new funding to expand in the US and to develop its intelligent quoting tool Stratafleet which it hopes will “revolutionise” private aviation.
Founder Jonny Nicol said: “Unlike other online brokers, we can provide all customers with accurate prices without wasting the time of the operators who work with us. This in turn means we can break the perception that private jets are reserved for the rich and famous, and making the industry more accessible to the mainstream traveller.
“This additional round of investment comes at an extremely exciting time for Stratajet. Following a successful launch in Europe last month we are seeing unprecedented numbers of flight quotes being generated across the platform, which proves how effective our system can be at giving a wider range of travellers access to the private jet industry.”
Octopus Ventures’ Malcolm Ferguson added:
“Today’s announcement is another break-through for what we believe to be a very exciting business. Stratajet’s platform streamlines the private jet booking process, enabling consumers to attain real-time, bookable flight prices on private jets.”