Top 5 Travel Tech Companies to Watch Out For
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Travelling has become an indispensible part of our lifestyle. According to a report by NiYO—a fintech firm operating in the banking space--70 per cent travel for leisure, 15 per cent are business travelers and 15 per cent are students. Travelling in and out of the country or within the country has grown extensively, and so has the need to meet the rising demand. According to latest numbers by Statista—a data research firm—the number of foreign tourists arriving in India stood at 1 million in November 2018. Let’s look at five travel companies that are changing the experience of travelling in India.
India Assist is a tech-enabled platform that connects foreign travelers needing assistance while in India to the correct mode of solution. When one goes to a new place, complications are bound to arise. This is where start-ups such as India Assist come in. Most foreign travelers take insurance before travelling to a foreign country, which only compensates in case of any mishap. However, unforeseen circumstances-- misguidance or getting lost in a new city--are equally distressing and requires handholding to figure out a solution. In the wake of such unforeseen events, travellers can connect with India Assist through its app to avail personalised on-call and ground assistance.
The intra-city bus service start-up has changed the experience of travel for daily commuters. Shuttl is a technology-enabled, seat-based and demand-adaptive bus mobility innovator with a demonstrated ability to directly address the dual challenges of congestion and pollution. In a crowded city where even the most seamless source of travel such as Metro falls short, Shuttl comes in as a relief. The cost-effective and affordable service has a robust network of 50,000 rides daily in Delhi-NCR, Kolkata, Pune and Hyderabad. It recently started operations in Chennai.
The company has been one of the pioneers when it comes to travel tech. The online travel company founded in 2000 provides a host of services such as instant booking of international holiday packages, hotel reservations, and railway and bus tickets with a variety of options to choose from. The company is not so young in the business ecosystem, but it remains a leader nevertheless.
It all started when a first-generation entrepreneur found difficulty in travelling to places and finding a good place to stay on a student's budget. The travel tech platform bridges the gap between a young millennial or backpacker looking for budget travel with low-cost accommodation providers. Zostel, at the consolidated firm level, has raised more than $15 million primarily for its hotel sub-brand ZO Rooms way back in 2015.
While travelling for leisure is a personal choice, demands of business travel is different. Founded in 2017, this Bangalore-based start-up offers an integrated artificial intelligence-powered software-as-a-service-based travel platform that reduces organizations’ business travel spends through a unique model of employee incentivization with a goal to make the corporate booking experience seamless. For companies today, employee personalization has become imperative. This is where start-ups such as ITILITE come to give employees a fulfilling experience during business travels.