AN ICELANDIC technology provider has secured a major investment from a Scottish equity firm.
Dohop has raised an undisclosed multi-million Euro follow-on investment from Scottish Equity Partners (SEP).
Dohop is hoping the investment will help to further accelerate growth and develop its virtual interlining offering, allowing airlines and scheduled transport providers to sell complex itineraries without the need for codesharing.
Since SEP’s initial investment in November 2020, Dohop has expanded its network of partner airlines by 25+ carriers across five continents, resulting in a network of more than 50 carriers globally, including AirTransat and easyJet.
The initial investment also enabled Dohop to grow its team by 31% in ten countries, including Germany, the United Kingdom, France, and Iceland.
With this new investment, Dohop aims to hire additional international talent and expand its development capabilities to address the demand from airlines who are looking to increase their networks and create new connections.
The industry is seemingly now turning to more agile technology solutions in order to offer passengers more choice and convenience when traveling.
Dohop says it also intends to continue broadening its partner airline ecosystem and improving travel connectivity through its virtual interlining solutions.
The travel industry is showing positive signs of recovery and Dohop says it has already seen a significant rise in revenue in 2022, and expects further growth ahead.
David Gunnarsson, CEO of Dohop, said: “Our technology enables partnerships between airlines and offers passengers more destinations and travel customisation.
“With the support of SEP, our airline ecosystem has grown substantially, and we will continue to connect the world’s leading airlines, airports, and scheduled transport providers across the globe.
“We are delighted to have SEP’s continued support in our mission to revolutionise travel connectivity.”
Andrew Davidson, Director at SEP, commented: “With the easing of global travel restrictions, airlines are keen to expand their networks and distribution capabilities, and we are delighted to provide Dohop, the leading provider of interlining technology, with further funding to address a four billion annual passenger market.”
