[Travel News]: Asia leads innovation in global travel and mobility tech sector, report says aims to provide the latest global travel and free travel news, travel and visa policies, and flight information. We hope to provide insights into tourism market, technology and development trends with everyone by providing the latest relevant information. Despite the raging COVID-19 epidemic in 2020, we always firmly believe that mankind will overcome the disease and the tourism market will definitely recover. look forward to your attention and support, and witness the development of the global tourism industry with us. Looking forward to the information provide can help you. We will continue to follow up and obtain the latest data, and look forward to your attention and support.

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VC firms have poured more than USD 80 billion into Asian travel and mobility tech startups from 2010 to 2019.

In the past decade, Asia has been the innovation hub for the travel and mobility tech (TNMT) sector, with half of global venture capital (VC) funding in the sector flowing into Asian startups. This trend led to the birth of numerous tech unicorns, such as China’s Didi, Singapore’s Grab, Indonesia’s Gojek, and India’s Ola.

What’s more, Asia will maintain its position as a leader in the TNMT industry even after the impact of COVID-19, according to a report by Lufthansa Innovation Hub titled “The State of Travel and Mobility Tech in Asia.”

According to the report, Asia has been critical in fueling the global TNMT startup ecosystem. VC firms from around the world have poured around USD 150 billion into travel and mobility tech startups from 2010 to 2019, amounting to 8% of total VC funding across all verticals. More than half of that investment has flown into Asian startups in the region since 2010, or over USD 80 billion. 

Since 2015, TNMT startups have experienced rapid growth in the region, bagging at least 50% of global VC funding every year. As of 2019, almost half of all unicorns in travel and mobility tech come from Asia. The region is home to 20 unicorns, three more than the US, while Europe has seven unicorns in the TNMT sector. Among Asia’s unicorns, 13 are from China, the report highlights.

Investors have placed a bigger bet on mobility rather than travel startups in Asia, according to Lufthansa. Almost USD 41 billion went into ride-hailing between 2015 to 2019. This includes a USD 2.5 billion investment in Grab in August 2017 from Softbank, Didi, and Toyota, and USD 1.5 billion capital injection in Gojek by Tencent in February 2018.

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