Onda Secures 12 Billion Series B Investment...Company Valuation Doubles

TS Inbe, Now IB, Industrial Bank of Korea, and others secure 12 billion KRW investment
Aggressive investment to pioneer digital transformation and PMS market in domestic hotel industry
Full-scale global market expansion focusing on Southeast Asia market

[Asia Economy Reporter Kwangho Lee] Hospitality tech startup ONDA has completed its Series B funding round. Despite the harsh startup investment climate, the company was valued at more than twice its pre-Series B valuation last year, receiving high marks for its growth potential.

On the 26th, ONDA announced that it secured 12 billion KRW in Series B investment from TS Investment, Now IB Capital, Industrial Bank of Korea, Square Ventures, K-Bridge Investment, and Breeze Investment. ONDA’s total accumulated investment has reached 31.5 billion KRW, with Now IB Capital making an additional investment following its pre-Series B participation.

Founded in 2016, ONDA is a hotel and lodging B2B SaaS (Software as a Service) company. In the first half of this year, it surpassed 100 billion KRW in transaction volume for the first time in a half-year period, and its revenue has more than doubled compared to last year, demonstrating rapid growth.

Its main business models center around the integrated sales system “ONDA HUB” (formerly ONDA GDS), which covers 60-70% of the domestic online lodging sales market, as well as the hotel SaaS solution “Hotel Plus” and the small lodging SaaS solution “Pension Plus” for pensions and similar accommodations.

Additionally, ONDA is preparing to launch DIVE, a hotel PMS developed over the past two years, scheduled for release in January next year. Through pre-field testing, DIVE has been praised for its ease of use and intuitive interface, and it has demonstrated higher operational efficiency compared to existing inconvenient hotel PMS systems.

With the Series B funding, ONDA plans to accelerate digital transformation projects in the domestic hotel market and intensify system development aimed at attracting inbound customers.

Overseas expansion is also gaining momentum. CEO Hyunseok Oh is personally leading the global business task force to actively enter the Southeast Asian hotel market. By providing various solutions that allow Korean outbound tourists to comfortably use local hotels, ONDA is creating a win-win structure for both local hotels and Korean tourists in the global market.

A representative from TS Investment, which led this round of investment in ONDA, stated, “We witnessed the rebound of the domestic tourism industry firsthand and invested based on the capabilities and growth determination of ONDA’s management and team members.”

CEO Hyunseok Oh expressed, “We are pleased that ONDA’s business direction has been recognized in the market through this funding round,” adding, “In the post-COVID era, we aim to become a company that supports the growth of the K-tourism market not only domestically but also globally.”

This content was produced with the assistance of AI translation services.