HotelGG’s subsidiary DeJa Equipment Leasing raises multi-million yuan
Conference venue booking platform HotelGG announced its subsidiary DeJa Equipment Leasing, an event LED rental provider, has completed a financing round of tens of millions of yuan.
Conference venue booking platform HotelGG announced its subsidiary DeJa Equipment Leasing, an event LED rental provider, has completed a financing round of tens of millions of yuan. HotelGG’s strategic investor Leyard Optoelectronic, a LED manufacturer and display solutions provider, invested in the round.
Last April, HotelGG announced a partnership with Leyard Optoelectronic, which was listed on China’s Growth Enterprise Market and worth RMB 20 billion. The companies have since joined hands in offering LED equipment rental to hotel events.
HotelGG set up DeJa with Leyard in 2016.
Tyler Tang, founder of HotelGG, said DeJa obtains LED equipment at no cost from Leyard, which has its own manufacturing factory, and then leases the equipment to hotels. The commission from the rental is shared with Leyard.
In order to make hotels more receptive to offering the equipment rental service to event clients, DeJa offers its hotel partners access to HotelGG’s platform for promotions and guarantees hotel partners will double their business as a result. DeJa has provided services to nearly 100 hotels.
After the model was proven viable in 2016, DeJa received the latest round of financing from Leyard. DeJa will use the funds to expand its markets.
HotelGG, founded in May 2012, focuses on metasearch and booking of hotel conference venues. It uses a Uber-like mobile App to match up meeting organizers and venue providers on schedule and rates. The company has raised millions of US dollars in its series A funding and USD 20 million in the series B round. Its investors include Matrix Partners, SIG and Chengwei Capital. (Translated by Claire )