Accommodation platform, Yanolja, announced that they received USD 19 million of funding from Aju IB Investment on December 22.
Through this round of funding, Yanolja aims to stay ahead of the competition of future industry through space innovation technology such as Internet of Things and AI. They also plan on enhancing their research and development capacity to compete with other innovative global services.
Aju IB Investment said, “Our decision to invest was made after comprehending the competence of teams and the positive drive and vision of changing our awareness of the small and medium-sized hotel market.”
Yanolja stated that “This round of funding means that we now take part in the same movement of global innovative service through the space innovation vision that we have pursued. With innovative technology, we will consistently accelerate on-going projects and help advance the local accommodation market.”
This year, Yanolja received USD 75 million in total. The accumulated amount of funding Yanolja received is USD 103 million. Yanolja also received USD 9 million from Partners Investment in 2015 and USD 56 million from Sky Lake Investment, one of the largest technology PEFs (private equity funds) in Korea, in June this year.
In 2015, Yanolja made record sales that were 86% higher than the previous year, which totalled USD 64 million. It is expected to reach USD 93 million this year.
(Top photo from 699pic.com)
This article, entitled “Accommodation platform Yanolja lands USD 19M from Aju IB Investment”, was written in Korean by Platum, edited by AllTechAsia.