Aviation distribution technology company Verteil Technologies has signed up 30 global airline companies and plans to add another 60 by the year-end.
Founded by Jerrin Jos and Satheesh Satchit, who have experience in airline passenger reservation systems, Verteil was seed-funded by the Kerala State Industrial Development Corporation (KSIDC) with a soft loan of ₹25 lakh in 2016.
The arrival of the internet had provided an opportunity to look beyond the legacy Global Distribution System (GDS) for transactions between travel service providers like airlines and hotels, and travel agents.
Verteil sensed an opportunity when IATA introduced the New Distribution Capability (NDC), a technology standard that aims to transform the way airline products are retailed to travellers.
“The traditional airline distribution system worked on World War II technology, and there were serious limitations in offering customised services to passengers. For example, meals on airlines were basically either vegetarian or non-vegetarian, but in the New Distribution Capability protocol, far more customisation is possible, and a wider range of retailing can be done by airlines,” says Jos, CEO of Verteil Technologies.
Verteil has already partnered with international airlines such as Emirates, Cathay Pacific and Lufthansa and says it is adding more by the end of this calendar year.
The airline distribution product technology — targeting both travel agents and 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 it the most. This underlines KSIDC’s philosophy of extending a timely helping hand to start-ups that are potential winners,” KSIDC Managing Director MG Rajamanickam said.
Verteil Technologies has a subsidiary in Japan, besides sales partners in seven geographies. A number of high networth individuals from India and abroad have invested in the company.