iPhone travel app gets govt funding

TOM PULLAR-STRECKER
Last updated 11:07 29/11/2012

Relevant offers

Gadgets

Apple and Bose join the round speaker revolution. Should you? Review: Sony X93, a LCD television featuring Android TV The rise of the robot pram Review: Sony A6500 camera is small but powerful Bike lock blocks rider's phone Samsung plans Galaxy Note 8 launch event for August Apple gives the iPad some love to halt its long slide The next iPhone could have a lot in common with Google Glass Snake on a plane! Don't panic, it's probably just a (soft) robot Father wants to ban sales of smartphones for children

An Auckland start-up that has developed an iPhone app that lets travellers book same-day hotel accommodation in less than 10 seconds is one of the first two firms to get funding from a new government-backed investment fund.

The fund, Global from Day One, which is managed by Auckland's Icehouse technology incubator and venture capital company Sparkbox Ventures, has invested $150,000 in the online booking start-up, Stay Today.

It has also invested $100,000 in Auckland University business intelligence software spin-off Mohio.

Stay Today believes about 15 per cent of hotel rooms are booked on the day by travellers - representing a $240 million market in New Zealand alone - and it can be hard for those people to shop around, particularly if they arrive in a city late in the day.

Its iPhone app and booking service can be used to arrange last-minute discounted accommodation at participating hotels in Australia and New Zealand. An Android app is in the wings.

Global from Day One has raised $2.3m from private investors, which has been matched by a $2.3m investment from the Crown-owned Venture Investment Fund. The fund aims to invest in a total of about 20 start-ups with "international ambitions" over the next four years.

Ad Feedback

- BusinessDay.co.nz

Special offers

Featured Promotions

Sponsored Content