Reportedly, China's first travel management B2B site Intohotel.com will receive the Series A US$30M VC funding from KPCB and Zero2IPO Capital.

Meantime, ten companies, including Fosun Group, Industrial and Commercial Bank of China, Alibaba.com, Geely Auto, Jinggong Group, Fapai Group, Holley Group, DVN (Digital Video Networks) Group, and Softbank China VC, will sign formal agreements with Intohotel.com.

To estimate conservatively, the above ten companies will spend over RMB600M on travel expenditure per annum. Intohotel.com said the 10 companies are new members from the total 5000-odd ones.

Forrest Zhong, Partner of KPCB, said they look well of the business model Intohotel.com adopts. He also said the company can provide full-flow travel management solutions for enterprise clients. Gavin Ni, Founder of Zero2IPO Group, deemed that the site can provide corporate travel services, leaving the enterprise accounting more transparent. In this way, enterprises¡¯ capital cost will be much saved, and their travel expenditure will be much reduced.