Travelio, a property technology startup based out of Indonesia, recently announced that the Samsung Venture Investment Corporation has joined the company’s Series B funding round, according to reports.
This is the second investment in Indonesia for the venture capital arm of Samsung — it invested in Gojek last year. Travelio said that it would use the capital to grow and expand its technology and conglomerate network.
“We are very fortunate to have Samsung as the latest addition to our shareholders. Their track record and expertise will help to gear us up to be a globally recognized and reputable firm,” Travelio CEO and Co-Founder Hendry Rusli said.
The announcement of the investment is an add-on to the one Travelio made earlier announcing the funding round, which brought in $18 million. The company previously raised about $4 million in a Series A round in May of 2018.
The company began as a way for travelers to share accommodations, but it has turned into an online residential real estate site for people who want affordable and temporary living quarters. The company works with developers as well as property owners to help them monetize their properties.
The company said that in the future it plans on launching new services like interior design and financing.
Another short-term corporate housing company, Zeus, recently raised $55 million in a Series B funding round.
The round was led by TI Platform Management with participation from Airbnb, Spike Ventures, Comcast, CEAS Investments, NFX and Initialized Capital.
Zeus was founded four years ago, and the company said it has had more than 27,000 residents stay for more than 650,000 nights.
“Now, more than ever, the way we live is mobile and increasingly global,” the company said. “We travel more for work and stay for longer periods of time. Family is dispersed around the country and the world, and we want it to be easy to visit loved ones during important moments in our lives. We want to effortlessly try out a new city, a new neighborhood, and a new life without the hassle and stress of relocation. That’s why we make it easy for people to live where opportunity takes them.”