Lightspeed leads Series A round for Tujia.com

The new capital will allow Tujia to grow its operations and service capabilities to meet the increased demand from middle to high-end Chinese travelers.

Travel and vacation rental service providers Ctrip.com International and HomeAway also contributed equity as part of this round.

"Until now, China's domestic vacation rental market has been a white space with significant supply and demand imbalance," said Lightspeed Managing Director Ron Cao. "Chinese consumers are increasingly looking for more options when they travel, and Tujia provides a unique offering with an online-offline model, and a focus on service and quality."

He added that the strength of the management team as well as the business' first-mover advantage will position it as a leading player in the emerging domestic vacation rental segment.

It was reported in February that Lightspeed China Partners I was nearing a final close on $200 million, having amassed $84.4 million by January.

Lightspeed invests in fast-growing sectors including cleantech, communications, media and internet.

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• Topics
• Early-stage
• Greater China
• Consumer
• China
• Consumer
• Venture