Kochouseph Chittilappilly, Chairman Emeritus of V-Guard Industries Ltd, has made an investment in Kerala based travel technology start-up Verteil Technologies as part of its Pre-Series A funding round.
Founded by Jerrin Jos & Satheesh Satchit, Verteil Technologies is a travel technology company transforming the 40 years’ old legacy airline distribution space with its state-of-the-art retailing and distribution platform for Airlines using the new distribution capability (NDC) standards promulgated by IATA. Within a short span of time, Verteil has on-boarded more than 26 leading airlines from around the Globe. This includes the likes of Emirates, Etihad Airways, Lufthansa Group, British Airways, and Singapore Airlines making it the world’s leading player in the new distribution ecosystem. Verteil operates from Kochi, Kerala and has an operating unit in Tokyo, Japan. Verteil has sales presence all over the world including USA, UK, Middle East, China, Hong Kong. The investment banking for this deal was done by Finlead Services, a boutique investment banking firm in Kochi and an early angel investor in Verteil Technologies. Bluebell Group is leading this Pre-Series A funding round for Verteil Technologies.
A beneficiary of the vibrant start-up ecosystem in Kerala, Verteil has been backed by Kerala State Industrial Development Corporation (KSIDC) and actively supported by Kerala Startup Mission in the formative years. The amount of the Pre-Series A Round was undisclosed. Verteil will use the money raised for onboarding more airlines into the platform and will invest further in technology to augment additional features to the current product.
Jerrin Jos, Founder & CEO, Verteil, said, “We are elated to on-board Kochouseph Chittilappilly in our mission to drive the largest transformation that the airline distribution has seen in decades. Our platform unleashes the retailing and merchandising capability of the airlines and we are onboarding more and more airlines as we move ahead. Both airlines and travel companies understand that direct connect is the future of airline distribution and we are seeing rapid adoption of our product across the globe, despite Covid-19. This investment has come at the right time and it will help us broaden the platform capabilities as customers continue adoption of our technology”
“Verteil Technologies has demonstrated excellence in building a truly world class technology product. Airline technology space has high entry barriers in terms of technology and domain expertise, and we are happy and excited to see Verteil’s product being adopted by several global airlines and large travel companies across the world. Kerala has an abundance of entrepreneurs and skilled engineers & we hope to see more such enterprises coming up in Kerala”, said Kochouseph Chittilappilly.