EVERBREAD, the airfare search technology company, today announced the closing of a new institutional round of funding. Singapore’s EDBI led the round, with participation from the National Research Foundation (NRF) under its Global Entrepreneur Executives (GEE) funding scheme. The new funds will help fuel EVERBREAD’s international expansion and the launch of its operations in Singapore to extend its presence in Asia where the company has seen growing interest in its products.
Ms Chu Swee-Yeok, CEO of EDBI said: “The adoption of Everbread’s platform by online travel agencies and technology providers affirms its position as a critical enabler of fast, accurate and customizable airfare searches, all of which are vital key differentiators in the increasingly competitive air travel industry. As one of the world’s leading air travel hubs with strong capabilities in data analytics and management, Singapore is an ideal location for Everbread to accelerate the rollout of its platform and capitalize on the rapidly growing demand for air travel in the Asia Pacific region. EDBI looks forward to supporting Everbread in its Asian growth plans in addition to tapping on new business opportunities by leveraging on our extensive networks and connections in the region.”
Prof Low Teck Seng, CEO of NRF Singapore added: “GEE is an investment programme under NRF’s Framework for Innovation & Enterprise (NFIE) to bring in experienced entrepreneurs from promising companies backed by credible venture capital funding to Singapore. The presence of these entrepreneurial executives and their companies through the setting up of headquarters and engineering offices in Singapore will enrich the entrepreneurial eco-system and contribute to the dynamism and innovation here.”
Everbread, its founders and investors on the one side, and Vayant and its investors on the other are pleased to announce a global settlement of all litigation and disputes between the two sides. The terms of settlement in relation to the proceedings in the US, UK and the Netherlands are confidential.
Morten Lund, CEO for Everbread said: "We are very pleased to have resolved all issues between us and Vayant, and are now looking forward to developing our business with our Haystack code."
Brian Clark, CEO for Vayant said: "Vayant is delighted to set aside all disputes so that we can concentrate on competing with our OneSearchTM platform in the marketplace and not in the courtroom."
After mentioning our History of Flight Search on his blog, Daren Booth of Frequently Flying ran a review of our search engine Haystack as well. In his review Daren rightfully pointed at some of the limitations of our public demo and we were the first to acknowledge that. Tempted by the opportunity to show Haystack off a bit, however, our Deputy COO Filip Filipov gave Daren a tour of the full functionality of our search. Frequently Flying appeared more than happy with the presentation - take a look at the latest blogpost here.
The International Air Transport Association (IATA), a global airline industry trade body, included EVERBREAD in its latest quarterly Partner Brief. EVERBREAD is an IATA strategic partner and recently received E1 as its IATA designator.
We at EVERBREAD have always strived to have as much fun navigating the complex waters of airfare search as humanly possible. This philosophy of ours has pushed us to come up with an interesting way to shed some light over the somewhat obscure history of flight search. Our efforts culminated with the creation of three short videos giving our website visitors a peak at the complexities of our industry.
Kevin May of tnooz was the first to feature our viseos in a recent article, shortly followed by the Economist posting them in their Gulliver section. A couple of days later Daren Booth of Frequently Flying also shared our fun project with his readers in a blogpost promising a Haystack review in the near future.
We hope you all enjoyed our History and are looking forward to hearing your thoughts. Don't forget to try Haystack - as we all know, nothing beats actually playing with the toys.
MileWise launches a new flight search engine allowing frequent fliers to book flights with cash, airline miles or hotel and credit card points. The engine uses EVERBREAD as one of its providers of flight data and currently supports over 300 reward programs.
A tnooz guest article by Evan Konwiser, co-founder of FlightCaster, analyzes the possible outcomes of Google's entrance into travel search. The author dismisses the hype surrounding Google's launch of an ITA-based search tool and points to EVERBREAD's search engine Haystack as a potential market leader in the near future.