36 Kr reported that TravelFlan, a Hong Kong-based chatbot provider for the travel industry, has recently received USD 7 million in its A round of financing. SPK AI Travel Tech Fund, founded by Lazard Korea, was the lead investor, while Linear Venture China, Radiant Venture Hong Kong, ITVSC Fund Hong Kong, Artesian Capital, SoSV and Chinaccelerator also participated in the round.
In 2017, the company secured a USD 3 million Pre-A round of financing from Linear Capital, Hong Kong’s Cyberport Macro Fund and Zhuhai Hengqin Group. In 2016, TravelFlan completed a USD 125,000 seed funding from 500 Startups, according to its CrunchBase profile.
Founded in 2015, TravelFlan has developed two core technology solutions, AI chatbots and one-stop management system, which integrates supplier resources to cover inventory management, data management, distribution and customer analysis services. The company claims to be working with 100-plus travel content and product suppliers including Klook, Marriot and Tuniu.
TravelFlan operates both business and consumer-oriented business lines.
Through the corporate market, TravelFlan generates its revenues from one-off R&D project fees, monthly usage fees, sales profit sharing and advertising. China Mobile, Samsung Group, SITA, Hong Kong Airlines are among its corporate clients.
TravelFlan has not yet launched its own App. It connects individual travelers through Wechat H5, WhatsApp and Facebook.
TravelFlan’s corporate services account for 85% of its overall business and the rest was from its consumer-facing business. About 70% of its business comes from China, while 20% is from Korea and 10% from Southeast Asia.
Abel Zhao, CEO of TravelFlan, has extensive experience in the travel technology and advisory industry. He has previously served as a regional director of Travelport and Amadeus. TravelFlan is also the third company in Hong Kong to enter Silicon Valley’s well-known incubator 500 Startups. (Translated by Elena)