Travel-tech company Holisto to merge with SPAC Moringa, giving it USD 405 million valuation
Holisto has developed AI-base technology to help people find the cheapest and most suitable hotel bookings. The product was launched in the second quarter of 2020, at the height of the Covid-19 pandemic, and according to the company it has been well received.
Moringa was floated on Nasdaq in February 2021, at the peak of SPAC activity on Wall Street.
Holisto was founded in 2015 by its CEO Eran Shust, CTO and CPO Avi Wortzel, and Dr. Shay Horowitz. It employs 370 people in Israel, the US, India and the Philippines. Among investors in the company in previous fund-raising rounds were 2B Angels, Connecticut Innovation, travel-tech fund Journey Ventures (Nadav Fattal and Aviv Refuah), and El Al’s investment arm Cockpit Innovation.
Holisto was also advised by Shibolet & Co. and Ellenoff Grossman & Schole LLP. Moringa was advised by Meitar Law Offices and McDermott Will & Emery.
