Travel-X, an information technology service provider in the tourism industry, recently announced that it has completed the A-round financing from Wu Capital.
The platform banks on its technical advantages and data expertise to provide the tourism sector with accurate automated marketing solutions and data-based information solutions.
The company had previously completed two rounds of financing.
Danyang Luo, co-founder of Travel-X, said the capital raised will go towards further developing the technology for data processing, demand forecasting and data applications.
Travel-X was founded in March 2016, and has built an automated marketing system leveraging cutting-edge technology and industry data to “provide the right product to the right people in the right context”.
By applying a high-performing air fare query engine built with search technology, Travel-X is able to process thousands of pieces of regular data and inventory data per second, making it possible to update prices and other key indicators concerning travel products in real time. Travel-X is also using similar technologies for its user profiling system to update group user information in less than a minute, so as to dynamically and automatically match potential customer groups with the travel products being marketed.
As well, Travel-X applies reinforced learning technology to predict mid- and long-term user needs, in order to support the upgrading of revenue management in the tourism sector, progressing from the traditional model based on historical data to a new model based on future demand and supply. This will help airlines, hotels and other businesses customize unique products to tap into user demand and increase profitability.