Xband Raises $28 Million for Chinese Rural Tourism: Travel Startup Funding This Week

This week, travel startups announced more than $57 million in funding. In a related note, AvantStay, a short-term rental brand focused on helping people plan, book, and enjoy group trips, has received a long-term debt facility from Pacific Western Bank. The startup didn't disclose the amount but said it was an eight-figure sum. AvantStay closed an approximately $20 million Series A fundraise in September. Here are other startup announcements from the past week. >>Xband, a cultural tourism business in China, has raised $28 million (200 million yuan) in a Series B funding round. TBP Country Living, an arm of private equity fund Trustbridge Partners, led the round. The company previously raised about $10 million in investment from a CYTS Hongqi fund, which is backed by travel service company CYTS, IDG Capital, and Sequoia Capital. Seed investors in the business included Cambrian and Qixi Capital. Founded in 2016, Xband creates rural villages that can serve domestic tourists. Its brands now include running bed-and-breakfasts in buildings constructed and designed to appeal to tourists, not unlike a theme park or model village. Its business units include a short-term rental brand, a homestay brand, and a planning design studio and construction company. Zhu Shengxuan, an architect, is the founder and chairman. >>Lanes & Planes, a provider of tools to manage business travel and expenses, said it had closed a $10 million Series A round of financing. Battery Ventures led the round. DN Capital and previous investor Connect Ventures also participated. Munich-based Lanes &