Paris, France (PRWEB UK) 17 October 2012
The financing round, Travellution's second in the last nine months, was completed in September with funds raised from business angels and current investors. These funds were augmented by a €100k grant from OSEO, a French quasi-governmental agency tasked with selectively financing the development of innovative companies in France.
Subsequent to the additional financing round, the company has moved its operations to Paris Incubateurs Nouveaux Medias, a digital media start-up incubator partnered with the City of Paris and located in the 20th arrondissement. The company intends to expand its full-time staff in this location over the coming months.
The two newest members of the company’s Advisory Board joined shortly prior to the fundraising round.
Pierluigi Paracchi, a seasoned entrepreneur and venture capitalist, is the former CEO and Founder of Quantica SGR, partner at Axòn Capital SGECR, board member at EOS, Pharmeste and GreenFluff.
Olivier Fleurot is the CEO of MSLGroup, the strategic communications and public relations arm of Publicis Group. Prior to joining Publicis Group, Mr. Fleurot was CEO of the Financial Times (London) from 1999 to 2006 and CEO of Les Echos (Paris) from 1996 to 1998.
“These are exciting times for Travellution,” says Giacomo Bastianelli, CEO. “We are pleased to have found new investors who share our vision of the future of travel planning and who are willing to trust us to make that vision a reality. The fact that a majority of our original investors also choose to increase their commitment also leads us to believe we’re on the right path.”
Furthermore, the company has announced that it expects to deploy a redeveloped version of its site by year-end that will include a graphical redesign and the addition of several new features.