Taiwanese online travel startup KKday has raised an undisclosed Series B+ round co-led by LINE Ventures, the venture arm of Naver-backed LINE Corporation, and Alibaba Entrepreneurs Fund, it said in an announcement on November 8.
Existing investors, including CDIB Capital and Monk’s Hill Ventures, also joined the round. The latest financing comes two months after KKday reportedly raised an undisclosed sum from Alibaba Entrepreneurs Fund in July. It had earlier raised $10.5 million in a Series B led by Japanese travel operator HIS this February.
After the financing round in July, KKday had expanded to China and launched a flagship store under Fliggy, Alibaba Group’s travel portal in China.
“Since our investment in July, KKday has demonstrated its strong execution capabilities in different markets and has shown exponential growth. KKday’s goal for global expansion aligns with Alibaba’s vision, and we are excited to join their journey and become a supportive strategic partner,” said Alibaba Taiwan Entrepreneurs Fund executive director Andrew Lee.
KKday hinted that there will be more global collaboration with LINE. Both parties will begin their first strategic collaboration later this month in Taiwan through the launch of “LINE Travel” that enables users to search and book flights, hotels, tours and activities as well as to plan and share their itineraries.
“The investment and collaboration with LINE is a huge breakthrough, not just for KKday, but also for the travel industry. We are committed to digitising travel experiences with our partners, and are very excited to be working with LINE to build frictionless and seamless travel experiences for all travelers worldwide,” said KKday founder and CEO Chen Ming-ming.
The startup said it will use the fresh proceeds to grow its operations in Japan, China and Korea. KKday is also looking to expand its services into Europe, Australia, New Zealand and the US.
“Asia’s travel experience booking market has had explosive growth due to the changing of consumer behaviour. And KKday, as one of the companies leading this transitional growth, has a CEO who is an entrepreneur with repeated success in the online travel agency field, an experienced excutive team and many young and aspiring team members,” said LINE Ventures investment director Masato Endo.
Launched in 2015, KKday said its has curated more than 20,000 unique experiences in over 500 cities and 80 countries.