Travel tech startups raised nearly USD 2.5 billion across 159 deals. However, deals are at a five-year low, while dollars are ticking back up, albeit far from the peak we saw in 2015. Also, an increasing number of travel tech deals are moving overseas — 67% of deals occurred outside the US thus far in 2016.

After the US, India is the next-most active country in terms of investment deals to travel tech startups. Not surprisingly, the most well-funded company is still Airbnb.

Travel tech startups have already raised USD 982 million across 21 deals in Q3 16 through 9/9/16. While the quarter hasn’t closed yet, the quarterly deal count so far is down 70% compared to Q2 16, but funding is up 68% over last quarter. 

The funding boom is primarily due to Airbnb‘s USD 850M Series F round in August.

Q3’16 has so far seen the lowest number of deals of any quarter since 2012, with only 21 — compared to 72 deals last quarter, and 75 deals in the same quarter last year — 3 out of the last 6 quarters recorded 70+ deals.

The top countries for travel tech deals have shifted over the last 5 years. While the US remains the most active, its share of deals has declined 10% since 2012.

Airbnb is by far the most well-funded travel tech company, with more funding than the next 10 companies’ total funding combined — Airbnb has raised USD 4.2 billion to date. The most well-funded list also includes the unicorns TuJia, Skyscanner, and Decolar.

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