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Yanolja Attracts 2 Tln Won Investment from SoftBank's Vision Fund

Written: 2021-07-15 15:53:59Updated: 2021-07-15 16:18:29

South Korean travel startup Yanolja announced Thursday that it has secured two trillion won in investment from Japan's SoftBank Group's Vision Fund.

Industry watchers had originally speculated an investment of one trillion won from  the company founded by tech investment mogul Masayoshi Son, and with the latest endorsement, the travel mobile app seeks to establish a global online travel platform.

Greg Moon, managing partner at SoftBank Investment Advisers, described the firm as a leading innovator in Korea's travel and leisure sector as it incorporates artificial intelligence and super app strategies.

He said SoftBank is pleased to collaborate with the Korean startup and expand into new markets.

The online travel agency provides an integrated range of services including accommodations, transport and restaurants, based on AI, Internet of things (IoT) and blockchain and cloud technologies.

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