- South Korean traveltech startup Onda adapted to the pandemic by focusing on domestic growth.
- Onda is reviving its global expansion plans, targeting Southeast Asia and MENA.
- The company seeks $15M in Series C funding to support its international scaling efforts.
Adapting to the pandemic
South Korean traveltech startup Onda, which offers enterprise solutions for hotel operational management, had to put its Southeast Asian expansion plans on hold due to the Covid-19 pandemic.
Instead, the company focused on its domestic market, developing Dive, a property management system for large chain hotels, and building global partnerships.
This pivot led to a 4x growth in gross merchandise value from 2020 to 2023.
Reviving international ambitions
With travel set to return to pre-pandemic levels, Onda has rekindled its international scaling plans. The company invested in Thailand’s Hoteliers.Guru, expanded into Taiwan, and now seeks to raise $15 million in series C funds.
Onda handles distribution for over 700,000 properties through more than 50 online sales channels and services over 4,500 properties worldwide with its SaaS offerings.
Onda’s focus for 2023 is on expanding in Southeast Asia, particularly Thailand, and the Middle East and North Africa (MENA) region, where many hotels and accommodations struggle to manage the increase in online sales amid a market rebound.
The company has partnered with Seed Group, owned by the Dubai royal family, to facilitate its MENA expansion.
Through M&A and strategic partnerships, Onda aims to localize its products, sales channels, and customer service to meet the growing demand for digital transformation in the global hotel market.
To read the original article: https://www.techinasia.com/traveltech-firm-onda-eyes-15m-raise-restarted-sea-mena-expansion-plans
