My Real Trip secured Series D funding during a chaotic COVID-19 pandemic.

Even the COVID-19 pandemic is directly affecting the business decrease, a South Korean travel tech startup received series D funding from seven venture capitals. MyRealTrip received KRW 43.2 billion (US$ 36 million) investment.

The investment is meaningful because the travel industry in South Korea is now chaotic. The number of passengers decreased by nearly 80% compared with the pre-COVID-19 pandemic era. Moreover, the number of international flight passengers decreased by 97%. The international flight passengers generate 90% of the revenue. The Asiana Airline M&A deal by HDC is almost broken due to the COVID-19 pandemic.

Altos Ventures led the Series D investment. KDB Bank (KR), IMM Investment (KR), SmileGate Investment (KR), Tektone Ventures (US), Partech Partners (FR), and Axiom Asia Private Capital (SG) participated in this investment.

MyRealTrip attracted KRW 82.4B as total investments. Moreover, the startup has been endorsed as a future unicorn startup by the Ministry of SMEs and Startups early this year.

How is the startup working during the COVID-19 Pandemic era?

Due to the COVID-19 pandemic, the company shifted its product from overseas travel to domestic travel. Two thousand local travel-related programs are now being sold over the platform. That led to four times business growth in the domestic travel vertical.

Furthermore, the company launched “Virtual Guided Tour via Lan(랜선 투어)” this June. The tour guide is participating in the tour via a video conference environment for the guided tour. The 20 series of virtual guided tour programs mostly sold out.

MyRealTrip will strengthen its technology platform features and hire additional human resources with this Series D investment.

Travel Industry will be back. The winner will be the one who prepared for itHan Kim, General Partner, Altos Ventures. – Source: Han Kim Facebook.

Who invested MyRealTrip?