Tuesday, April 2, 2024
EaseMyTrip invests $3.9M in E-Trav Tech, acquiring a 4.94% stake to expand its B2B offerings in the travel industry.
Leading travel technology company EaseMyTrip plans to channel INR 33 crore ($3.9 million) into E-Trav Tech Limited, a specialist in B2B travel services, securing a 4.94% interest in the company.
This move was announced in a notice to the stock exchange on Thursday (March 28), with the travel platform’s directors giving their nod to the investment during the day’s board gathering.
Situated in Mumbai, E-Trav Tech Limited equips businesses with travel APIs, enabling travel firms to present attractive travel options and content from worldwide travel providers. Its portfolio encompasses APIs for flights, vacation packages, accommodations, buses, and visa assistance, among other services.
The initiative by the startup aims to bolster its B2B division, addressing the varied needs of its business customers.
EaseMyTrip’s CEO and co-founder, Nishant Pitti, expressed, “Our goal is to broaden our range in the non-air travel categories. Following our investments in accommodations, our focus shifts to upgrading our offerings for our business clients through our collaboration with E-Trav Tech Limited. By tapping into their technological prowess and B2B market acumen, we are poised to better serve our business clients with enhanced services. Actions such as these are significant in our evolution and underscore our dedication to delivering effortless travel experiences to our customers, driven by innovation and technology.”
Established in 2008 by Rikant Pittie, Nishant Pitti, and Prashant Pitti, EaseMyTrip provides a full spectrum of travel services including flight bookings, hotel reservations, holiday packages, and tickets for rail and bus travel, along with supplementary value-added services.
Wednesday, May 1, 2024
Wednesday, May 1, 2024
