A series A+ funding round was completed by SmartRyde, the owner of a pre-booked airport transfer marketplace, for about JPY 450 million ($3.38 million).
In a statement, SmartRyde claimed that the money was raised through the third-party allocation of shares coordinated by NVC No.1 Limited Liability Partnership (a fund jointly run by NVenture Capital Limited and NEC Capital Solutions Limited).
Iyogin Capital, Yamaguchi Capital, Hiroshima Venture Capital, Shigagin Regional Revitalization SD Fund, and SMBC Venture Capital also participated.
Additionally, Japan Finance Corporation provided the subordinated loan to SmartRyde.
With this funding, SmartRyde said it will make additional investments in corporate function expansion, business team strength building, and product development.
By utilizing the over-the-air (OTA) network of the largest scale in the nation, SmartRyde plans to increase the number of inbound tourists to Japan in collaboration with venture capitals of the local banks that took part in the aforementioned funding round.
Additionally, SmartRyde wants to help domestic taxi operators be more profitable by giving them new benefits like cost-cutting and streamlining.
Demand Partner API is a new product that SmartRyde has just released.
When taking hotel reservations and flight bookings, online travel agencies (OTAs) and airline companies connected to this API will be able to access the airport transfer network and offer their customers airport transfer services, which is anticipated to increase their profits.
The global distribution system (GDS), a global online network that links travel agencies with other travel-related service providers like airlines, hotels, and car rental companies, was also mentioned by SmartRyde.
With the help of this system, customers can make reservations and issue tickets in real-time.
In order to make its product, “SmartRyde,” a GDS designed for airport transfers that connects OTAs, airlines, etc., and meets various demands, SmartRyde seeks to modernize inventory management and vehicle allocation procedures that have been used in the taxi and limousine industry for a long time.
A marketplace called SmartRyde offers pre-scheduled airport transfer services to more than 700 airports in Japan. At every airport, it offers airport transfer services.
