Travel startup Polarsteps receives 500.000 euro in funding

Polarsteps, the startup for tracking your travels, today announced a 500.000 euro investment from VC Silver Point Ventures and corporate TMG.

With the Polarsteps app, the traveler’s journey is automatically generated on an interactive map. No active internet or GPS connection is needed to keep track of the route.

The funding will be used to further develop the product, which means updates for the iOS app and the launch of an Android app. Also, Polarsteps wants to “experiment” with different business models, according to information in the press release. For instance: the startup is thinking about creating a central platform for planning trips, as well as selling photo albums.

TMG Startups

The backing of Polarsteps by TMG isn’t a big surprise. Polarsteps was co-founded by TMG employee Koen Droste and it was developed in house until the startup attended the TMG Startups programme. Which got killed, unfortunately. So it’s good to see a corporate like TMG still investing in their startups.