Total amount raised
$19.3 Millions
Latest funding date
#N/A
Location
SORA has successfully raised funds through multiple rounds, including non-equity assistance from SAP.iO and Google for Startups, as well as a Series B from Kintetsu Venture Partners. The platform offers an online service that compares prices of various hotels and inns, featuring "MagicPrice - Pricing AI for Hotels."
Keep reading to explore the intricacies of SORA's fundraising journey and the investors backing this innovative platform.
What Is SORA?
SORA, founded on April 21, 2015, in Tokyo, Japan, is an online service that compares prices of various hotels and inns. The company was established by Daiki Matsumura and operates with a small team of 1-10 employees.
Known for its innovative product, MagicPrice, SORA leverages AI to optimize hotel pricing. This tool has positioned the company as a significant player in the B2B, E-Commerce, Hotel, and Travel industries.
Despite its rebranding to Harmonia Inc. in August 2021, SORA continues to maintain its core services and mission, providing valuable solutions to the hospitality sector.
How Much Funding Has SORA Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: September 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely to support initial development and launch of MagicPrice and participation in accelerator programs.
- Seed Round
- Amount Raised: $5.3M
- Date: July 2020
- Lead Investors: Elad Gil, First Round Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the development and expansion of SORA's AI-powered pricing strategy platforms, MagicPrice and Hotel Banzuke.
- Series A
- Amount Raised: $14M
- Date: August 2021
- Lead Investors: Two Sigma Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the business and enhance the AI capabilities of MagicPrice.
Total Amount Raised: $19.3M. Current Valuation: Not publicly disclosed.
Key Investors
The major investors in SORA include:
- Two Sigma Ventures
- Details: Two Sigma Ventures is a venture capital firm that invests in early-stage technology companies. It is part of Two Sigma, a technology-driven investment manager.
- Investment Focus Areas: Technology, AI, Data Science
- Notable Investments: Not publicly disclosed
- Elad Gil
- Details: Elad Gil is a prominent angel investor and entrepreneur, known for his investments in high-growth startups. He has a background in technology and has co-founded several successful companies.
- Investment Focus Areas: Technology, Healthcare, AI
- Notable Investments: Airbnb, Stripe, Square
- First Round Capital
- Details: First Round Capital is a venture capital firm that specializes in seed-stage investments. The firm has a strong track record of backing successful startups.
- Investment Focus Areas: Technology, Consumer Products, Healthcare
- Notable Investments: Uber, Square, Warby Parker
- 500 Startups Japan
- Details: 500 Startups Japan is a venture capital firm that invests in early-stage startups. It is part of the global 500 Startups network, which has a strong presence in the startup ecosystem.
- Investment Focus Areas: Technology, Software, AI
- Notable Investments: Not publicly disclosed
- Daiwa Corporate Investment
- Details: Daiwa Corporate Investment is the corporate investment arm of Daiwa Securities Group. It focuses on investing in innovative startups and technology companies.
- Investment Focus Areas: Technology, Startups, Innovation
- Notable Investments: Not publicly disclosed
What's Next for SORA?
With the potential to expand its user base for MagicPrice to 5,000 users, SORA is poised to capture a significant portion of the Japanese hotel market. This growth opportunity is bolstered by the increasing demand for AI-driven pricing solutions in the hospitality industry.
As SORA scales, future fundraising rounds are likely, especially as the company continues to enhance its product offerings and partnerships. However, challenges such as competition from other AI-powered platforms and maintaining data accuracy will need to be navigated carefully.
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