SIMTrip, a cross-border mobile communications data service provider incubated by Tongcheng’s mass innovation unit, has received tens of millions of yuan in its angel funding round, it was revealed in the WeChat account of Ctrip-invested Tongcheng Tourism on October 8.
The financing was offered jointly by ChaseStone Capital and Tongcheng Mass Innovation Lab. Mr. Chen Wang, founder of SIMTrip, said the money raised will go towards refining products, expanding overseas branches, building operation teams and striving for a larger share of the market.
SIMTrip specializes in the research and development of cross-border mobile communications data technology. It provides business travelers with cross-border mobile data services through Internet of Things devices, and offers users real-time access to the Internet in overseas destinations.
As of August, SIMTrip has achieved over RMB 70 million in turnover, an increase of 130% year-on-year.
The company has more than 100 employees, and its services are covering Europe, the Americas, Southeast Asia and other regions.