Business An-gel investment secured
INI-Novation GmbH supports a start-up company in the air fare pricing and ticketing market and secured Business An-gel investment
CELIGRA Ltd. was formed as a start-up company to further de-velop and operate FarePlay™ – a new generation airfare search and pricing engine that uses the full potential of contemporary software and hardware to give end users the ultimate speed, flexibility, and number of bookable results. Both, company man-agement and the current shareholders bring previous start-up experience and knowledge of the flight pricing business. In the frame of the EU-funded project TESLA, INI-Novation, Darmstadt, supports the acquisition of investment funds as well as the inter-nationalisation of the business into foreign markets. The com-pany recently secured two rounds of Business Angel invest-ments and is now seeking its positions in the market.
As a next investment step, a minimum of € 1.300,000 is being sought which will be used to finance working capital, market penetration and equipment. A significant percentage of the in-vestment will be used to subscribe to specialized data feeds and to buy the necessary hardware; another part will be used to cov-er the personnel expenses needed for product completion. Common co-ownership in CELIGRA Ltd. will be issued to inves-tors. Any excess investment above the € 1.300,000 will be held in the company’s capital reserves to be used for secondary de-velopment stages. Through this investment the company will reach on schedule all the targeted milestones and achieve the projected time to market.
On December 9th, INI-Novation introduced the CELIGRA team to business development experts and technical specialists from Hahn Air as well as to its CVC HR Alpha GmbH. Both expressed their interest for future collaboration and agreed on the next steps to be taken.
TESLA meeting of CELIGRA Ltd. with potential collaboration partners/investors organised by INI-Novation GmbH
FarePlay™ is a back-end solution that services all the players on the travel market irrespective of their type of business (service providers or intermediaries, online or offline), location and IT infrastructure and technology used. Through its innovative algo-rithms FarePlay™ brings faster and more accurate results than any of existing airfare search and pricing engines.
FarePlay™ is an engine with unique software architecture, a highly scalable module system based on open source technolo-gies. Because of its exceptionally low cost to develop and main-tain, it is also the most competitive product on the market capa-ble to provide the lowest price per search. Both company man-agement and the current shareholders bring previous startup experience and knowledge of the flight pricing business. Though we already have a working base version of the product, to this end a further investment from private individuals and/or compa-nies is needed. This investment will be funneled to secure the specialized data subscriptions and the hardware needed as well as the further developments to make it fully operational and to fine tune it in a way toward a business with competitive advan-tages and unique selling prepositions in the market.