Passing Cloud Raises More Than $15 Million for Boutique Lodging: Travel Startup Funding This Week

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