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KSIDC seed-funded Verteil emerges aviation tech leader

Published in Technology Thursday, 17 February 2022 14:50

Kochi, : Aviation distribution technology company Verteil Technologies has signed up with 30 global airline companies and has plans to add another 60 airlines to its bouquet of customers by the year-end.

Founded by Jerrin Jos and Satheesh Satchit who have extensive experience in the airline passenger reservation systems, Verteil was seed-funded by the Kerala State Industrial Development Corporation (KSIDC) with a soft loan of Rs 25 lakh in 2016.

The seeds of the start-up came from the fact that the arrival of the internet provided the right opportunity to look beyond the legacy system of Global Distribution System (GDS) for airline distribution services. This system had been driving transactions between travel industry service providers like airlines and hotels, and travel agents.

Verteil sensed an opportunity when the International Air Transportation Association (IATA) introduced the New Distribution Capability (NDC), which is a technology standard that will transform the way airline products are retailed to travelers.  

“The traditional airline distribution system worked on World War II technology, and there were serious limitations in offering customized services to passengers. For example, meals on airlines were basically either vegetarian or non-vegetarian, but in the New Distribution Capability protocol, far more customization is possible, and a wider range of retailing can be done by airlines”, says Jerrin Jos, founder-CEO of Verteil Technologies.

Verteil has already partnered with international airlines including Emirates, Cathay Pacific and Lufthansa and is in the process of adding dozens more of airlines by the end of this calendar year.

The airline distribution product technology targeting both travel agents and travel industry service providers like airlines and hotels, is estimated to be a $ 1 trillion market annually.

“We are happy to have extended financial support to Verteil Technologies during their early days when they needed financial support the most. This underlines KSIDC’s philosophy of extending a timely helping hand to start-ups that are potential winners”, KSIDC Managing Director M.G. Rajamanickam said.

Verteil Technologies presently has a subsidiary in Japan, besides sales partners in 7 geographies. A number of high net worth individuals from India and abroad have already invested in the company.

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