Cozitrip raises $2 million to chase Chinese inbound travel market
Sydney-based startup Cozitrip has raised $2 million to date to build a B2B travel platform that allows Chinese travel agents to make bookings at hotels in Australia and New Zealand.
Sydney-based startup Cozitrip has raised USD 2 million to date to build a B2B travel platform that allows Chinese travel agents to make bookings at hotels in Australia and New Zealand.
Backed by VC Follow the Seed and supported by Alibaba Cloud, founders Ping Wu and Rinat Sadykov want the online marketplace to bridge cultural differences between the two geographies and remove inefficiencies in the booking process.
The platform aims to give Australian hotels exposure to the lucrative Chinese tourism market and make life easier for Chinese travel agents bookings hotels in ANZ — a process that still relies on phone calls and emails.
Founded in 2015, Cozitrip is headquartered in Sydney at co-working space Haymarket HQ and has offices in Beijing and Shanghai.
Its recent USD 1 million investment round was led by VC Follow the Seed and follows an earlier USD 1 million round invested by wealthy entrepreneur Joseph Chou from IronFish and angel investors.
Alibaba Cloud provides most of the infrastructure for Cozitrip. The founders said Alibaba has provided great support — both technical and non-technical — for companies dealing with China.
In particular, Alibaba’s cloud computing business has provided guidance on how to overcome regulatory hurdles in China, the founders said.
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