InstantSpace raises EUR 0.5 mln and launches automated booking platform for event venues

InstantSpace announced on June 28 that it launched its automated booking platform for venues and services. It also said that it raised EUR 500,000 in a new funding round to support the commercial launch and expand to Israel.

The round was led by EGV with the participation of Sparking Capital and foreign business angels, valuating the company at EUR 4 million. DLA Piper provided legal advice in Romania and Igal Arnon law firm in Israel.

“We are thrilled to launch instant.space and change forever the way the MICE (Meetings, Incentives, Conferences, and Events) industry works. We would like to thank both the investment funds, the individual investors and partner hotels for supporting us from the beginning, for all the trust in our team and this business, in difficult times for the industry,” said Ofir Bar-Noy, Co-Founder of InstantSpace.

In his turn, Alex Stanescu, CEO and Co-Founder of InstantSpace, said: “We connect corporate clients with a large number of hotels, ready to serve them at affordable prices. Everything is very straightforward with instant.space, from choosing a location to seeing the price for each event hall and instantly booking and paying for the entire package on one invoice, instead of sending inquiries to many hotels and waiting for days for responses.”

InstantSpace connects directly to the hotel management systems, simplifying the entire process of booking an event or conference hall and additional services such as food and beverages, or renting a variety of equipment and props.

The company plans to launch on the Israeli market in the near future.

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