COSI raises EUR5m Seed Round from Cherry, e-ventures and prime list of travel and real estate entrepreneurs
3rd August 2019
You haven't seen much of us yet, as we have been working silently below the radar. Today we would like to reveal our plans and share some exciting news:
Our mission at COSI is redefining hospitality. COSI will offer you a new way of staying in a city very soon: COSI is your favorite stay - for work, travel, play.
COSI meets the modern Zeitgeist of travelers in today's stressful world, that traditional hotels rarely serve: Guests prefer the cozy feeling of a home over a standard hotel room; appreciate the unique design of a boutique hotel in a location with character; and value seamless technology concepts that provide guidance, save waiting times and cut friction out of the old school guest stay experience.
Today we announce a EUR5m seed financing round with our trusted partners, many of whom we have been working closely together with in the past: The round is led by Cherry, Christian Meermann, and e.ventures, Christian Miele, as institutional investors; with about 30 tech entrepreneurs such as the Flixbus or Zalando founders (Cherry) or the Otto, Miele, Porsche families (e.ventures) behind them. We are also very happy to count plenty of travel, real estate and hospitality experts on board, just to highlight a few of them:
Nils Regge, founder of HomeToGo, the largest meta search portal for vacation rentals. Gleb Tritus, MD Lufthansa Innovation Hub, and several real estate entrepreneurs such as Andreas Brehmke, Loric Ventures, Lions Venture, Manuel Stotz, founder of Kingsway Capital, Mato Peric, serial entrepreneur and founding investor of IMMO, and Damian Doberstein who has played an instrumental role for COSI.
In the past few months we have assembled a strong management team of real estate, hospitality and, most notably, technology experts to create a new standard in hospitality. Among us founders we have built and sold big tech companies before (Bonial/kaufDA to Axel Springer), handled complex private equity and commercial real estate transactions and built the tech engine behind FX hedging platforms.
The hotel industry faces the same challenges as any other bigger industry: Product and tech stacks are relatively outdated, mostly because incumbents did outsource the responsibility for technology long time ago.
COSI will reimagine this end-to-end as a full stack hospitality operator. While still in our early stages, we do have several exciting locations in our pipeline that we will launch in the next months - stay tuned for a new hospitality experience.
"We inspire the future of travel through a business model that works for new generations of travellers. By combining technology with quality design, we've been able to change what guests and investors expect from accommodation"