South Korean travel startup MyRealTrip secures $36m in new funding

South Korean 10,000 won note is seen on U.S. 100 dollar notes in this picture illustration taken in Seoul, South Korea, December 15, 2015. REUTERS/Kim Hong-Ji

South Korea’s online travel platform MyRealTrip has received 43.2 billion won ($36 million) in a funding round led by existing investor Altos Ventures along with IMM Investment and Smilegate Investment, Korean Investors reported.

News investors including Korea Development Bank, Singapore-based Axiom Asia Private Capital, France-based Partech Partners, and US-based Tekton Ventures also participated in the round.

MyRealTrip, a travel tech company that started with a focus on tour guides and ticket/pass sales, is now growing into a full-service online travel platform offering hotel reservations and flight bookings.

Since its inception in 2012, the company has raised 82.4 billion won ($68.6 million) to date, according to media reports.

Altos Ventures invests in early-stage tech companies and currently has over $3 billion in assets under management.

Smilegate Investment is the corporate venture capital arm of South Korean game developer Smilegate, the creator of Crossfire – an online first-person shooter (FPS) available in 80 countries with 650 million registered players.

The investment firm is planning to launch a second country-focused fund this year.

Last year, South Korea’s accommodations booking service provider Yanolja joined the unicorn rank after securing $200 million in its Series D funding round backed by Singapore sovereign wealth fund GIC Pte Ltd and US firm Booking Holdings.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.