European Union travel tech investment fund Roch Ventures has announced WeSki as its first investment.
Roch joins a group of investors including Waze founder Uri Levine, TravelPerk founder and CEO Avi Meir and the founders of Flixbus.
The size of the investment has not been disclosed, but at launch Roch Ventures said it was targeting roughly 15 travel technology companies with its €100 million fund.
United Kingdom-based WeSki, which styles itself as the Skyscanner for ski holidays, predominantly offers ski holiday packages from the U.K. to France but has plans to expand to the United States.
Its technology enables ski and snowboard enthusiasts to search, compare and book customized ski trips.
According to a statement, the investment from Roch Ventures will go toward technology development as well as geographical expansion.
Bobby Demri, managing partner of Roch Ventures says: “Booking a ski holiday is a very complex process, and the skier and snowboarder community must search and book between several OTA’s and providers to organize their ski package. As European investors, we are happy to invest in a sector where Europe is the leading market worldwide, and we believe that WeSki, with its proprietary, cutting-edge technology, will help European skiers to have a much better holiday experience.”
Ludger Kuebel-Sorger, managing partner, Roch Ventures, adds: “WeSki has real and strong value proof that there is a massive demand for the solution in key European ski traveling corridors. The outlook to expand market
coverage to ski traveling corridors in North America is exciting.”
The statement adds that WeSki has seen significant growth in the past two years with a 300% increase in revenue between 2021 and 2022.
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Yotam Idan, co-founder and CEO of WeSki says: "This investment will enable us to build on our success and accelerate our growth in our path to profitability. Our focus has always been on providing exceptional experiences to our skiers and snowboarders.”
The launch of the Roch Venture fund by Demri and Kuebel-Sorger was announced in August 2022 with the investment vehicle looking to focus on travel technology startups in areas such the digital nomad, sustainability and corporate travel trends.
Describing his ideal investment at the time, Demri said: "Series A. Three to four years in existence with strong revenue, not big but serious. Defensible technology, not something that someone can come along tomorrow and duplicate in five days. A strong team with one failure."