Passing Cloud Raises More Than $15 Million for Boutique Lodging: Travel Startup Funding This Week
Photo Credit: Passing Cloud, a travel startup focused on the development of short-term lodging by cultural tourism projects in China, has raised a strategic investment of at least $15 million. Passing Cloud
Skift Take
This week, travel startups announced more than $20 million in funding. The startups target high-end B&Bs, group travel booking, destination planning, and other concepts.
Travel Startup Funding This Week
Each week we round up travel startups that have recently received or announced funding. Please email Travel Tech Reporter Justin Dawes at [email protected] if you have funding news.
This week, travel startups announced more than $21 million in funding.
>>Passing Cloud, a company focused on the development of short-term lodging by cultural tourism projects in China, has raised a strategic investment of at least $15 million (100 million renminbi).
Jiangsu Wenfeng Group led the round of strategic investment.
Founded in November 2015 in Shenzhen, the startup creates high-end boutique lodges under a couple of brands in China's ancient cities and towns and villages. Its average room rate at the premium bed-and-breakfasts is about $300 a night (2,000 yuan a night).
For more context, subscribers to Skift Research can read Venture Investment Trends in Travel 2021.
>>Launchtrip, a group travel booking service, closed a seed investment round of $3.8
