Skift Take

Airbnb found that breaking into China wasn't so easy, and it appears that China-based Zhubaijia is also discovering that.

fundingroundupEach week we create a roundup of travel startups that have received or announced funding that week. The total amount raised this week was more than $15.5 million.

Here are two companies that announced they raised funding this week and see previous roundups here.

>>Zhubaijia, a short-term rental site for outbound Chinese travelers, raised a $14.5 million venture round from new investors UC Capital and Neway Group Holdings and existing investors AB Capital, CITIC GoldStone Investment Fund and HNA Group.  This brings the Beijing-based company’s total funding to more than $112 million as HNA Group led Zhubaijia’s last round in September 2015 for $78 million.

The company was founded in 2012 and lets Chinese travelers book short-term rentals in 70 countries including Japan, Thailand and France and also offers private guides, transportation and other tour services. Venture capital news site China Money Network reported this week that Zhubaijia’s latest round is a last ditch effort to keep the company afloat as it’s been burning through cash.

>>Self-service hotel mobile app Xbed raised a $1 million seed round, its first round, from new investors Gobi Partners and QF Capital. The Liaoning, China-based company helps guests with every facet of their stays such as hotel room reservation, opening and locking of room doors, payment and room cleaning. The company was founded in 2015 and is targeted towards the Chinese market.


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Tags: funding, vcroundup

Photo credit: Chinese short-term rental site Zhubaijia raised $14.5 million in a round led by HNA Group. Zhubaijia

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