#UAE #hospitality – South Korea’s leading hospitality technology firm, ONDA, has partnered with Seed Group to form a UAE-based joint venture to accelerate its expansion into the Middle East and North Africa. As part of the expansion, ONDA will localise its AI-powered SaaS solutions by mid-2025 and leverage Seed Group’s regional networks to establish a foothold in the MENA (Middle East & North Africa) hospitality market. The move builds on ONDA’s success in digitally transforming over 4,500 properties worldwide, marking a pivotal step in its global growth strategy.
SO WHAT? – In 2023, ONDA announced that it had raised about $10 million (KRW 12b) in Series B funding from a consortium led by TS Investment, NAU IB Capital, and Industrial Bank of Korea. The new funding helped support product development and global expansion, beginning with the South-East Asian market. ONDA signed a strategic partnership with Seed Group, an holding group under the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, in February 2024. The group focuses on investing in local and foreign startups that map to market opportunities in the Middle East, so the announcement of a joint venture is likely due to some early success in ONDA’s Middle East sales.
Here are some more key points regarding this announcement:
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ONDA, a Series B South Korean hospitality tech company, has partnered with UAE’s Seed Group, which is owned by the Private Office of Sheikh Saeed bin Ahmed Al Maktoum, to establish a joint venture targeting the MENA region.
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ONDA first partnered with Seed Group in February 2024, following the companies participation in GITEX GLOBAL’s Expand North Star global startup event in October 2023.
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ONDA plans to complete localisation of its SaaS technology by mid-2025 to meet the unique demands of Middle Eastern hospitality providers. Technology companies normally add Arabic language options, local currencies, local tax options, local properties, and local place names when localising. ONDA has not yet clarified how it will localise its SaaS platform or for what MENA countries.
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ONDA supports over 40,000 properties globally and distributes 700,000 vacation rentals and hotels across 60 online channels. Seed Group will provide ONDA with critical market access and regional networks
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Known for its flagship solutions, including ONDA HUB, Hotel Plus, and PMS (payment management system), ONDA has driven digital transformation for more than 4,500 hotels and resorts worldwide.
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ONDA is a 2024 Booking.com Advanced Connectivity Partner and the first Korean company ranked on Skift’s Global PMS Vendor list.
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ONDA and Seed Group hope that the new joint venture will unlock new growth opportunities for ONDA in the Middle East, a fast-growing tourism and hospitality market.
ZOOM OUT – UAE-based Seed Group – established in 2004 by Sheikh Saeed bin Ahmed Al Maktoum – focuses mainly on startups that target the Middle East and North Africa (MENA) region. With 66 investments and offices in 12 countries, the group says it has closed deals and manages investments totaling $1.06 billion. Although the group has diverse investments, it has pivoted towards technology startups in the past few years. Recent partnerships (financials are rarely announced) include India-headquartered software product engineering start-up TNTRA, German IT services firm adesso SE; the Italian AI-powered trading platform eVISO; AI-powered safety risk management platform Beams Safety AI; and Malta-headquartered business and productivity software provider Binderr.