SmartRyde, a Tokyo-based marketplace for airport
transfer services, has raised $1.6 million in a Series A round.
The funding is led by Angel Bridge and
included SG Incubate, Yamaguchi Capital, SMBC Venture Capital, Hiroshima
Venture Capital, Iyogin Capital, Inventum Ventures, individual investor and
serial entrepreneur Shouji Kodama, Nobuaki Takahashi and Optima Ventures.
Founded in 2017, SmartRyde connects
taxi and other transportation operators to online travel agencies so travelers
can book their ground services at the time they book air and hotel.
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The company currently operates at 700
airports in 150 countries. SmartRyde works with more than 650 transportation
providers and more than 25 OTAs, including Booking.com, Expedia, Trip.com,
Traveloka and Despegar.
SmartRyde CEO Sota Kimura says the
company will use the funding to strengthen its OTA-integration systems, build a
booking management system for operators and continue its digital development.
Says Ryota Yamaguchi, manager of
Yamaguchi Capital: “Due to the impact of COVID-19, there has been a change in
the way people travel, such as avoiding congestion and traveling in small
groups. Under such a trend, we believe that airport transfer services via OTAs,
which are the starting point for travel bookings, will further expand.
"In order
to realize SmartRyde's vision of ‘contributing to the sustainable development
of local communities through transportation,’ we will support the SmartRyde's
global expansion and domestic business development.”