Cosi Group offers a tech-enabled, ‘full-stack’ hospitality service that competes with boutique hotels and managed short-stay apartments by signing long-term leases, furnishing units, and digitizing/automating the guest journey. The company focuses on midstay guests (stays of one month or longer) and says it reached over 90% occupancy during the pandemic, operating locations on a cash-flow-positive scale. Cosi reports 750 units under contract and a further 1,500 under negotiation. It has benefited from increased supply opportunities, including underperforming hotels and potential office-to-midstay conversions. Cosi plans to use the new capital to accelerate international expansion in Europe, implement a new brand, and launch a new strategic business unit soon. Cosi is developing a full-stack hospitality brand that signs long-term leases, furnishes apartments, and rents them short-term as a hotel replacement. The company controls the entire guest journey with a consumer-facing digital service and back-end technology for operations. Founders are Christian Gaiser (CEO, formerly founded Bonial.com), Dimitri Chandogin (co-founder of Doc+), and CTO Gerhard Maringer (background in fintech and built ForexFix). Cosi targets tourists who want local, well-designed stays and business travelers needing multi-week or multi-month accommodations. The startup says it will use technology to drive housekeeping, maintenance, yield management and other operational tools to create an efficiency edge. Cosi is pre-launch and expects to begin operations in a few months after closing the funding.

Total raised

$29M

Funding rounds

2

Latest round

Equity

Latest activity

Mar 2021