TOKYO–(THETECHMUSK=TTM)–SmartRyde, Inc. (Head Office: Tokyo, Representative Director: Sota Kimura; hereinafter “SmartRyde”), which operates “SmartRyde,” a pre-booked airport transfer marketplace, announces that it has published a new product “Demand Partner API.” 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 when taking hotel reservations and flight bookings, which is expected to increase their profits.
SmartRyde has raised approximately JPY 450M through the third-party allocation of shares led by NVC No.1 Limited Liability Partnership (a fund jointly managed by NVenture Capital Limited and NEC Capital Solutions Limited) and together with SMBC Venture Capital, Yamaguchi Capital, Hiroshima Venture Capital, Shigagin Regional Revitalization SD Fund, and Iyogin Capital, and additionally by obtaining the subordinated loan from Japan Finance Corporation.
Prospects of “SmartRyde”: Establishment of a global distribution system (GDS)
GDS is an online network that connects travel agencies and other travel-related service providers such as airlines, hotels and car rental agencies around the world. This system allows their customers to make real-time reservations and enables real-time ticket issuance. SmartRyde aims to streamline vehicle allocation systems and methods of inventory management that have remained unchanged in the taxi and limousine industry for a long time, and make our product “SmartRyde” a GDS designed for airport transfers that connects OTAs, airlines, etc. and responds to various demands.
Purposes of fundraising
With this funding, we will invest further in expanding corporate functions and building strengths of business teams as well as in product development. While partnering with VCs of the local banks that participated in the said funding round, SmartRyde intends to increase the number of inbound tourists to Japan by utilizing the OTA network of the largest scale in the country. SmartRyde also aims to support domestic taxi operators in the aspect of profitability and to provide them with new value including streamlining and cost reduction.