Germany-based travel technology developer Fineway has raised €7m (8.3m) in a series A round that featured media groups Axel Springer and MairDumont, the latter investing through corporate venturing arm MairDumont Ventures.
Bayern Kapital, the investment firm owned by the state of Bavaria, contributed to the deal through its Wachstumsfonds Bayern fund, while assorted, unnamed family offices also took part.
Fineway has developed a bot that uses artificial intelligence technology to interact with users and help them plan and organise their holidays.
The platform analyses 250 data points in real time to generate a user profile and offer personalised trips. The money will go towards the further development of the bot.
MairDumont and Bayern Kapital previously also contributed to a $2.5m seed round in 2015 alongside assorted angel investors.
Bayern Kapital revealed the deal as part of an announcement that its €100m Wachstumsfonds Bayern vehicle has invested €31m to date, resulting in a total of €198m for startups through leveraged private investments.