Betterwood Raises Millions for Boutique Hotel Management: Travel Startup Funding This Week

Ten travel startups have recently announced more than $43 million in funding. Earlier this week, Skift sister brand Event MB reported on how event platform Bizzabo had raised $138 million in its Series E funding round, led by Insight Partners. >>Betterwood, a tech-based management service for lifestyle hotel brands, closed a Series A round that was undisclosed but worth "tens of millions of U.S. dollars." ZhenFund and INCE Capital participated. ChinaTravelNews first reported the funding. Betterwood was co-founded by Ocean Link, an investment firm that has received investment from Trip.com Group. Betterwood founder Alex Zheng is a co-founder and partner of Ocean Link and the former founder of Chinese budget hotel brand 7 Days. Spanish hotel brand Barceló has 50 properties under development with Betterwood, though the brand has mainly franchised through larger developer Plateno. Betterwood also works with other international brands, such as Ruby Hotels and its own brands. Betterwood has a significant opportunity given the Chinese hotel sector's ripeness for disruption, said Anna Fang, the founding partner and CEO of ZhenFund, an early-stage venture capital firm in China. >>Dohop, a travel tech company based in Iceland, has received an unspecified investment from Scottish Equity Partn