InstantSpace launches its platform with a new half a million euro round led by EGV

InstantSpace announces the launch of its automated booking platform that makes booking of venues and services easy and instant. The company raised an additional new investment, valuating the company at 4 mil euro, to support the commercial launch and expand to Israel. EGV led the round with the participation of Sparking Capital and foreign business angels, while DLA Piper provided legal advice in Romania and Igal Arnon law firm in Israel.

InstantSpace is the first company to connect directly to the hotel management systems and simplify 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. Practically, booking an event or conference space and all the needed services becomes as easy as booking a room on booking.com or expedia.com.

“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”, says Ofir Bar-Noy, Co-Founder of InstantSpace.

“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” stated Alex Stanescu, CEO and Co-Founder of InstantSpace.

“InstantSpace is building the digital infrastructure of the MICE industry. Their impact will be significant in making the lives of event organizers and hotel managers worldwide easier. The company is also bringing more transparency into booking and organizing events, not to mention the increase in speed of execution and convenience for the end-users and business clients,” added Cristian Munteanu, Managing Partner at EGV.

Anyone can visit instant.space as of today, be inspired by the hotel selection and book instantly the best event spaces and dates. The company plans to launch on the Israeli market in the near future.

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Early Game Ventures (EGV) is a venture capital firm funded mainly through the Competitiveness Operational Program 2014-2020, co-funded by the European Regional Development Fund.

The European Investment Fund (EIF) is part of the European Investment Bank Group and is the leading risk financier for Europe’s SMEs through venture capital, collateral, and microfinance instruments. In Romania, the EIF implements financial instruments co-financed through structural and investment funds, such as JEREMIE 2007-2013, SME Initiative, ROP, JOP, NRDP.

The Competitiveness Operational Program 2014-2020 (POC) makes investments to address the needs and challenges raised by the low levels of economic competitiveness, in particular with regard to (a) insufficient support for research, development, and innovation and (b) underdeveloped infrastructure for Information and Communication Technology. POC benefits from a € 1.33 billion allocation from the European Regional Development Fund.

The content of this material does not necessarily represent the official position of the European Union or the Government of Romania.