Cruisewatch receives around one million euros

The Hanover-based startup plans to use the money to further develop its AI for travel advice and sales.

Hanover-based startup Cruisewatch says it has closed an investment round of more than one million euros. The sum includes research funding from the European Regional Development Fund (ERDF), supported by money from the state of Lower Saxony. The investors also include NBank Capital Beteiligungsgesellschaft mbH and Hannoversche Beteiligungsfonds (HBF), which have again invested in the start-up alongside three business angels.

Cruisewatch wants to use artificial intelligence to change advice in the travel industry. To this end, the start-up has developed a data-driven technology that aims to simplify the consulting process, find intelligent solutions and digitize the sales process as a whole.

Cruisewatch plans to use the investment to further develop its AI-powered solutions for text and speech recognition and process automation. The solutions are already trained with cruise-specific content and can be directly implemented and linked to partners' data and processes, the startup said.

"We are very pleased to have received new capital in the middle of the Covid crisis," said Markus Stumpe, CEO and co-founder of Cruisewatch. "This shows confidence in us as a team, in our technologies and confirms the potential to expand in the travel market and beyond."