Travel technology firm dcs plus has this week announced funding from venture capital company Credo Ventures.
The deal follows 2015 investment from Earlybird Venture Capital, taking its total investment to $6.2million.
Romanian-based dcs plus will use the cash boost to drive its global expansion plans. It is focussing its efforts on the Middle East, Central and North Africa and Southeast Asia and will start by opening new offices in Dubai this year.
Ondrej Bartos, a partner with Credo Ventures, said: “Travel tech has experienced massive growth over the past few years, reflecting the fact that travel and tourism industry makes up to 10% of global GDP and accounts for nearly as many jobs.
“Surprisingly the sector is extremely fragmented, and inefficient from the customer’s point of view. We strongly believe that dcs plus has developed a very strong suite of products for travel industry, and has the potential to not only become a leading provider of travel software, but also make the market more efficient and transparent for the travelers.”
Cristian Dinca, chief executive and founder of dcs plus, added: “This investment will open up new possibilities for dcs plus and will allow us to develop and provide innovative products and services to more companies than ever before. We are already preparing the launch of some game-changing technologies quite soon.”