SG Hospitality Firm Secures US $9m in SoftBank Ventures Asia-led Round
Source: Tech in AsiaSingapore-based Zuzu Hospitality, which provides a revenue platform for independent hotels, has raised US$9 million in a series B round led by SoftBank Ventures Asia.
The company, which was founded in 2016, helps independent hotels optimize their operations and increase their revenue by offering revenue management, distribution, and payment solutions.
Funding details:
Funding amount: US$9,000,000
Lead investors: SoftBank Ventures Asia (SoftBank Ventures Korea)
Other investors: Atinum Partners, Wooshin Venture Investment (우신벤처투자), Visor Ventures, JG Digital Equity Ventures
Stage: Series B
Zuzu Hospitality plans to use the new funds to improve its products, expand its market presence, and double its hotel partner count to 5,000 by the end of 2024.
The company also intends to invest in AI tools to enhance its pricing, guest management, and partner experience capabilities.
Written by: Miguel Cordon
25 May 2023