Globally travel and hospitality sector has opened up at almost full capacity post the COVID-19 pandemic, and startups in the hospitality industry are hopeful of a better earning year despite recession predictions.
Korean hospitality tech startup Onda, a service that uses IT to solve problems experienced in the lodging industry, such as hotels, motels, and guesthouses, has successfully attracted Series B investment.
TS Investment, Now IB Capital, Small and Medium Business Bank, Square Ventures, K Bridge Investment, and Breeze Investment participated in the investment. As a follow-up investment following October of last year, the total investment in the Series B round was 12 billion won ($9.4 million), and the cumulative investment amount was 31.5 billion won ($24 million).
Onda is currently operating a ‘small and medium-sized lodging reservation management program,’ ‘pension reservation management program,’ and ‘B2B platform exclusive for lodging relay’ services. The company continues to grow having surpassed 100 billion won ($81 million) in transaction volume in first half of 2022.
Onda focuses on the digital transformation of the domestic hotel market and plans to focus on overseas expansion, such as in Southeast Asia based on this investment.
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