Original source: Businesstimes.com.sg
HOTEL tech services provider Zuzu Hospitality has raised US$9 million in Series B funding led by venture capital (VC) firm SoftBank Ventures Asia.
The oversubscribed round also saw participation from VCs Atinum Partners, Wooshin Venture Investment, Visor Ventures and JG Digital Equity Ventures, the company said on Thursday (May 25).
The seed funding will be used to double Zuzu’s hotel partner count across South-east Asia and India, as it aims to reach 5,000 partners by the end of 2024.
Additionally, the Singapore-based travel tech startup also plans to make “strategic investments” in artificial intelligence tools to improve pricing, automate guest management and improve partner experience.
“This substantial financial boost will enable us to innovate our offerings further, accelerate our growth trajectory and support more independent hotels in increasing their revenue,” said founder and chief executive officer Vikram Malhi.
The company, which was founded in 2016, introduced a customised direct website and booking engine for each hotel partner during the pandemic. Its products are paired with localised payment platforms that are specific to each market’s unique requirements.