Cosi raises €5M for its ‘full-stack’ hospitality alternative to boutique hotels

TechCrunch | 8/21/2019 | Staff
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Cosi, a new Berlin-based startup operating in the hospitality space with an alternative to boutique hotels and managed short-stay apartments, has picked up €5 million in seed funding pre-launch.

Leading the round are venture capital firms Cherry Ventures and, with participation from a number of travel, real estate and hospitality entrepreneurs and experts. They include Nils Regge (founder of HomeToGo and Dreamlines), Gleb Tritus (MD Lufthansa Innovation Hub), Manuel Stotz (founder of Kingsway Capital), Mato Peric (founder of Immo), Andreas Brehmke, Loric Ventures, and Lions Venture.

Line - Company - Months - Doubt - Part

That’s quite a line up for a company that won’t launch for another few months, but is no doubt based in part on the track record of Cosi’s founders.

They are Christian Gaiser, the startup’s CEO, who preciously founded, the local shopping platform sold to Axel Springer in 2011; Dimitri Chandogin, who co-founded Doc+, a prominent digital healthcare provider in Russia; and CTO Gerhard Maringer, who has a background in fintech and previously built ForexFix, an FX hedging platform.

Guests - Apartment - Hotel - Ie - Travelers

“More and more guests prefer to stay in a unique apartment versus a boring hotel, i.e. travelers tend to book their stay at a private host via Airbnb. [However], the experience can be frustrating though due to lack of quality and service: long check-in/check-out times, poor interior design, lack of cleanliness, not enough linen, no service hotline in case of questions, to name a few examples,” Gaiser tells TechCrunch.

“Many guests, therefore, decide not to stay in a unique home for quality reasons. Cosi solves this problem as a full-stack hospitality brand: We control the entire guest journey from end-to-end”.

Hospitality - Service - Boutique - Hotels - Apartments

To offer a “full-stack” hospitality service that hopes to compete with well-run boutique hotels or traditional local managed apartments,...
(Excerpt) Read more at: TechCrunch
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