(Reuters) -WeTravel, whose online platform and AI tools streamline travel organisation, such as hotel reservations, flight bookings and payment processing, said it had raised $92 million in a new funding round led by Sapphire Ventures.

WHY IT’S IMPORTANT:

The new funding for WeTravel, which was founded in 2014 and has headquarters in San Francisco and Amsterdam, underscores the growing momentum behind AI-powered technology in the travel and tourism industry.

A report this month by consultancy firm McKinsey said AI-based travel start-ups were attracting a surge of venture capital funding.

In February, travel booking service Klook said it had raised $100 million in funding led by Vitruvian Partners, while in July private equity firm CVC led a $220-million funding round in Singaporean tr

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