Samsung Venture Investment Corporation is the venture capital arm of South Korea’s conglomerate, Samsung Group. This is the second Samsung Ventures’ investment in Indonesia following its investment in Gojek last year.
The company said that Samsung Ventures’ investment would enhance Travelio’s business target in 2020 through deeper integration and partnership with the conglomerate’s network, technology and the electronic related ecosystem.
“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
The investment is a follow-up announcement after the firm secured an $18 million in Series B funding round co-led by private-equity firm Pavilion Capital and Gobi Partners.
Existing backers, including IndoGen Capital, Vynn Capital and Insignia Ventures also participated in the Series B round. The company also joined the $4 million series A funding round in May last year.
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