Alibaba invests in Isreali travel tech

Friday, April 10, 2020

Israeli travel tech startup Hotelmize announced that it has completed a Series B investment round co-led by Alibaba Hong Kong Entrepreneurs Fund, associated with e-commerce giant Alibaba Group.

Hotelmize is a travel technology startup that employs more than 20 people in its Tel Aviv headquarters and has sales offices in London, Bangkok, Buenos Aires and Mallorca.
It was founded in 2016.

The size of the round is not disclosed and is co-led by Israel’s Brilliance Ventures, the round is set to accelerate company growth and to expand its activity in the Asia Pacific region.

Hotelmize is an AI-based technology automatically buys and sells hotel rooms to generate additional profits for travel or hotel companies. So far, it has handled over $2 billion of reservations and has created over $100 million worth of transactions.

Hotelmize founder and CEO Dor Krubiner, said that the tourism industry is one of the most competitive industries worldwide. Unlike others, travel industry players are offering highly similar products, which makes it exceptionally difficult to differentiate from their competition.

The adoption of advanced technologies offered at Hotelmize is a sure way for travel and tourism organizations to keep their edge. In the coming years, they will see travel industry players transform themselves from ‘commercial enterprises’ into ‘technology enterprises.’
The demand for advanced data-driven intelligent solutions is already growing at a rapid pace.

CindyChow, executive director of the Alibaba Hong Kong Entreprenuers Fund went on saying that they have come out from the current difficult situation under the effect of COVID-19 and believe that Hotelmize can contribute to the recovery of the hotel industry with its unique value proposition.

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