Kravluxe, which trades as Altovita, raised with SyndicateRoom in January 2019. £93,000 was committed by 20 SyndicateRoom investors, which Altovita plans to spend on:
- Web Development & Technology
- Staff & Salaries
In 2016, Airbnb introduced a 90-day limit for its London lettings – after discovering that 23% of its ‘entire home’ London listings were being let for 3 months+ illegally. Altovita aims to take the risk out of midterm rentals. Its website lists homes across Europe for travellers looking for non-standard leases – using AI to screen out potential scams. Headquartered in London, Altovita currently lists properties in London, Prague, Vienna, Budapest, Dublin, Warsaw, Lisbon, Berlin, Valencia, Marbella, Bratislava and Brno.
Around one million holidaymakers experienced fraud when booking through Airbnb in 2016-17, but careful vetting of properties and hosts could reduce the chance of scams. Altovita believes its AI reduces the risk of scam properties by comparing images online. It also analyses the quality of properties, by automatically tagging and qualifying its features. This means unsuitable properties can be weeded out early, saving the Altovita team (which personally visits its potential rentals as part of the listing process) from taking unnecessary trips.
Altovita also uses AI to carry out user profiling and matchmaking between clients and properties. Once a customer has made a personal profile on the Altovita site, or outlined their preferences in a message to its chatbot, AI recommends a selection of listings based on their requirements.
Since its launch in July 2017, Altovita has reported the following traction:
- Over 1,000 listed properties across 12 European cities, with 10,000 in the pipeline
- Over 3,500 monthly visitors
- Over 500 monthly enquiries from online traffic and offline partners
Where are they now?
During its raise, Altovita opened listings in Copenhagen – its thirteenth European city. Please check back here to find out more updates from Altovita.