Yanolja connects with SoftBank Vision Fund 2 for mega funding round
Yanolja, a South Korean venture that provides cloud-based booking and other systems for the hospitality and travel sector, has completed a $1.7 billion investment round involving SoftBank Vision Fund 2.
It plans to use the funding to invest in the development of technologies and to expand its technology offerings in new markets.
The venture is looking to build and operate a more advanced global travel platform by enhancing its automated solutions using artificial intelligence and personalised offerings based on Big Data.
“Powered by AI, we believe Yanolja is a leader in transforming the travel and leisure industry in South Korea through its travel super app approach,” says Greg Moon, Managing Partner at SoftBank Investment Advisers.
“We are delighted to partner with Lee Su Jin and the Yanolja team in their quest to expand into new markets and drive further innovation in the travel and leisure industry.”
LEE Su Jin, CEO at Yanolja, comments: "I am delighted that, together with SoftBank Vision Fund 2, we can collectively pursue and realise our goal of making the global travel and hospitality markets hyperconnected through technology.”
“We will accelerate digital transformation in this sector as the global leading hospitality tech company and travel super app, by fully leveraging our unique technological capabilities."
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