Connect with us

Artificial Intelligence

Yanolja raises $180M funding from GIC and Booking Holdings

Vlad Poptamas

Published

on

Reading Time: 2 minutes

 

Yanolja, the largest online travel platform in South Korea, raised $180 million in Series D funding from GIC and Booking Holdings, bringing its current valuation to more than $1 billion.

Alongside its investment, Yanolja and Booking Holdings have entered into a strategic partnership and commercial agreement. With the partnership, Booking Holdings’ brand Agoda will have the ability to offer its customers Yanolja’s unique hotel accommodations in South Korea, and Yanolja customers will be able to book accommodations across the globe powered by Agoda and other Booking Holdings’ brands.

Yanolja is the market leader in Korea’s accommodation and leisure industry, given the company’s acute understanding and use of cutting-edge digital technologies, and global expansion plans. In particular, the company has demonstrated accelerating sales growth at an annual rate of more than 70% over the past five years.

Yanolja quickly gained ground as the largest online travel platform in Korea surpassing $100 million in monthly transactions for the first time in the industry. Yanolja has continued to show the value of its online booking platform for its customers with 20 million accumulated reservations for accommodation and leisure activity booking.

In addition, Yanolja is one of the largest hotel chains in Korea with more than 200 hotels which include some of the strongest and most recognized franchise hotel brands across the country. Outside of Korea, Yanolja has invested in Southeast Asia’s No. 1 hotel chain, ZENRooms, which has more than 1000 hotels across the region, strategically positioning itself for its global hotel franchise business.

Furthermore, Yanolja has developed the leading cloud-based property management system in Korea, supporting all kinds of accommodation types, helping the owners save operational costs, increase bookings, and ultimately boosting revenue. Based on its technological know-how and operational experience, Yanolja is architecting a smart hotel that utilizes key technologies such as artificial intelligence (AI) and internet of things (IoT). Earlier this year, Yanolja in collaboration with Korea Telecom, introduced the smart hotel concept in Jeju Island, which is expected to enhance the hotel’s overall performance contributing mainly from two perspectives: (i) cost efficiency and (ii) customer satisfaction.

The new funds will be used to further innovate and achieve new grounds in hospitality-related technology to automate hotel operations and achieve more pervasive connectivity across the value chain. A portion of the newly raised funds will also be deployed to accelerate digitalization and achieve growth potential in the global travel and leisure market, going beyond the traditional travel sphere.

 

SOURCE Yanolja

Hello!


Thank you for visiting my profile and thank you for reading my news and published press release!


There a many things that shape a man, but the carving is done by the hobbies and passions. I've pursued two main careers, professional photography and webdesign, while also keeping a passion for automobiles, technology and games. At PICANTE NEWS, I take care of news editing and press release publishing in se
veral categories and as I've mentioned, during my spare time, I am also a professional photographer with webdesign skills.

My future plans include developing more journalistic skills and start creating investigative journalism. You can find my reports and press release coverages in the following categories:


BANKING/FINANCIAL SERVICES, COMPUTER ELECTRONICS, AUTOMOTIVE, CONTRACTS, ANALYSIS, INTERNET TECHNOLOGY, BIOTECHNOLOGY, BLOCKCHAIN, ACQUISITIONS, RETAIL, and many more.



You can get in touch to discuss interviews or possible article submissions by contacting us.


Let's also connect via social media! You can find me on Facebook or visit my photo portfolio.

Advertisement
Comments

Artificial Intelligence

5-Star Destination, Tokyo Station Hotel, Adopts Bebot, Bespoke’s AI-powered Travel Concierge

Vlad Poptamas

Published

on

Reading Time: 1 minute

 

Bespoke, creators of the world’s first AI-powered chatbot developed for travelers, today announce Tokyo Station Hotel, an independent 5-star hotel in Tokyo, has adopted Bebot to serve guests. Through Bespoke’s unique travel-focused AI, Bebot provides hotel guests with an intuitive, responsive and friendly channel to ask any questions that arise during a hotel visit. Guests can make requests for recommendations, reservations and services, or ask specific questions related to their travel experience – all through chat. With Bespoke’s recent launch into the US Market, Bebot is now available for US-based hotels and travel destinations.

Bespoke’s world-leading, unique travel-focused AI is augmented by on-the-ready, seamless, human chat to continuously improve, teach and optimize their AI technology, providing customers and travelers with a no-compromise, reliable source of information. Bebot’s advanced AI was developed to provide travelers with essential information and tips in an intuitive and familiar, yet powerful chat service – providing essential and inspiring tips and information to improve guests’ visits, while relieving hotel staff.

“Tokyo Station Hotel is one of few independent 5-star hotels, and we’re honored they choose Bebot to serve their guests,” said Akemi Tsunagawa, founder and CEO of Bespoke. “Our unique AI was developed from the ground up to serve the specific needs of travelers providing them with the timely info, tips and guidance they need to have a comfortable stay wherever they go.”

In addition to providing information about services, rates, amenities, menu options and directions, Bebot provides travelers with vital details about nearby attractions, destinations and more. Travelers access Bebot by scanning a QR code found on a placard or by visiting a url provided by the hotel – no additional downloads are necessary.

 

SOURCE Bespoke

Continue Reading

Artificial Intelligence

Mercari Opens Cambridge Engineering Offices

Vlad Poptamas

Published

on

Reading Time: 1 minute

Mercari, The Selling App, today announced the opening of engineering offices in Cambridge, MA, advised by two renowned professors at the adjacent Massachusetts Institute of Technology (MIT).

Mercari is the number-one marketplace in Japan. Since entering the U.S. in 2014, more than 45 million Americans have downloaded the app.

At the moment, Mercari’s team in Cambridge is focused on better understanding sellers and buyers, and predicting their intentions ahead of their actions. This helps Mercari deliver a more personalized experience using its recommendation engine. The team is applying machine learning on massive amounts of data to better personalize the user experience based on their preferences, history and interactions.

More broadly, this team is pursuing applied research projects in machine learning, computer vision and other emerging technologies that can help Mercari to make selling even easier than buying.

“Opening the Mercari engineering offices in Cambridge is an important addition to our global technology centers in Palo Alto and Tokyo,” said Dr. Mok Oh, chief technology officer for Mercari U.S. “The expectations of Mercari sellers and buyers are always evolving, so it’s vital that we harness emerging technologies to continuously improve our app and services.”

Advising the team are Dr. Frédo Durand and Dr. Wojciech Matusik of MIT.

Dr. Frédo Durand is a renowned researcher and professor in computer vision and computational photography. He is a professor of Electrical Engineering and Computer Science at MIT, and a member of MIT’s Computer Science and Artificial Intelligence Laboratory (CSAIL).

Dr. Wojciech Matusik is widely-recognized professor and entrepreneur in machine learning, 3D vision, and 3D fabrications. He is a professor of Electrical Engineering and Computer Science at the Computer Science and Artificial Intelligence Laboratory (CSAIL) at MIT, where co-directs the Computer Graphics Group and teaches machine learning courses

Mercari is looking for talented people to join its technology teams in Palo Alto and Cambridge. A list of all current U.S. openings is here.

 

SOURCE Mercari

Continue Reading

Artificial Intelligence

Chinsay’s Intelligent Contract Platform Enables Rio Tinto & Cargill to Complete the First Fully Digitalised Iron Ore Trade

Vlad Poptamas

Published

on

Photo source: salestechstar.com
Reading Time: 1 minute

 

Chinsay, the leading provider of contract digitalisation solutions in the commodity and freight markets, is announcing today the completion of the first fully digitalised iron ore trade, through a trial achieved in partnership with Rio Tinto and Cargill‘s Metals business on Chinsay’s Intelligent Contract Platform (ICP).

In using ICP, Rio Tinto and Cargill collaborated on a single platform to dramatically reduce the time it takes to create, issue and approve commodity contracts from several days to under two hours. The digitalisation of this fundamental trade process creates the opportunity to automate and deliver post-trade efficiencies by linking front-, middle- and back-office functions.

Colin Hayward, Chinsay CEO, said: “This is a technological milestone for the industry, and we are delighted Rio Tinto and Cargill Metals chose to partner with us and use our ICP as the core technology to create this advance. We are constantly collaborating with clients, market participants, tech vendors and industry consortia to extend digitalisation further along the commodity trade lifecycle.”

“The Intelligent Contract Platform is a great tool that has the potential to benefit the entire ferrous industry,” said Lee Kirk, Managing Director for Cargill’s Metals business. “This is a great example of how we can leverage advancements in technology to benefit from increased speed, transparency and efficiencies that enable us to serve our customers and suppliers better.”

ICP is state-of-the-art technology which allows companies to digitalise pre-trade processes early in the deal lifecycle, creating an agreed contract dataset that can be seamlessly integrated with other operational systems, functions and processes, enabling transparency and traceability across the supply chain.  ICP prepares clients for the use of technologies such as blockchain, ML, AI and electronic trade documentation solutions.

 

SOURCE Chinsay

Continue Reading

Font Resizer

Subscribe to PICANTE via Email

Enter your email address to subscribe to PICANTE and receive notifications of new posts by email.

Follow us on Facebook

Read more from our authors

Follow our Tweets

Trending

Please turn AdBlock off