Utravel, a Chinese road trip solutions provider, has secured RMB 20 million (USD 3.08 million) in venture funding from multiple cultural tourism investment companies in Shenzhen, China.
The funds will be used for marketing and advertising, recruitment and boosting platform capacity to accommodate tens of thousands of daily users.
Founded in June 2017, Utravel started by providing self-driving tour itineraries to customers with selected travel resources. As the shelf life of such products is quite long, the company is considering supplying standard tours to OTAs. During the pandemic, Utravel has pivoted to building a platform integrating driving tour information and online tourism services. Currently running on a direct-sale basis in Hunan, a central province in China, the company plans to operate franchises and access third-party supply chains when expanding to other areas of the country.
Boasting over a million of registered users, Utravel says it is poised to become a unicorn in its area soon.