Taiwan’s Booming Domestic Travel Secures New Funding for Startup
- KKday closes $75 million Series C funding despite Covid-19
- Sales from domestic travel in Taiwan grew five times in summer
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Taipei-based travel startup KKday closed its latest $75 million funding round, helped by a pivot to domestic package tours after the Covid-19 pandemic devastated the global tourism industry this year.
The Series C funding was led by Tokyo-based Cool Japan Fund and Taipei-based National Development Fund, while existing investors including Monk’s Hill Ventures and MindWorks Capital also participated. KKday, which previously focused on offering ground package tours at foreign destinations, saw sales plunge 90% to hit rock bottom in March but its shift to domestic tourists has since paid off, founder and Chief Executive Officer Ming Chen said in an interview.