Ambit represented Czech startup Davinci TS in negotiating a EUR 2.1 million venture capital investment in a round led by Reflex Capital, with participation from existing investors Seedcamp and J&T Ventures.
Davinci TS aimed to automate group hotel bookings for corporate clients and travel agencies. The funding was intended to support further platform development and international expansion. CzechCrunch reported on the transaction on September 12, 2019.
A platform for group hotel bookings
Founded and led by Alex Ilyash, Davinci TS served corporate clients and travel agencies, allowing them to book hotel accommodations for larger groups, such as those traveling to conferences. Its goal was to automate the group booking process.
At the time the investment was announced, more than 300 travel agencies used the platform, which offered a selection of more than 10,000 hotels, including properties in the Hilton and Radisson chains.
Investment for development and expansion
The investment round was led by Reflex Capital. Existing investors Seedcamp, based in the UK, and J&T Ventures, based in the Czech Republic, also participated. According to the announcement at the time, the company sought both financing and support in managing its further development.
Planned development would extend booking options to related services, such as business dinners and conference rooms. This would allow the platform to address additional needs of corporate clients organizing group travel.
Developments during the pandemic
The coronavirus pandemic hit Davinci TS in 2020. According to a December 2020 CzechCrunch report, demand for group accommodations virtually disappeared, and the company cut costs. At the same time, Ilyash and his team were developing a digital ordering product for restaurants that became a separate company, Choice. In 2022, Presto Ventures invested in Choice, with Ambit representing Presto Ventures in that round.
