Companies

Verteil Technologies closes Pre-Series A funding round

Our Bureau | Updated on May 30, 2021

Company to use funds to onboard more airlines into platform

Verteil Technologies, an IATA Level 4 certified NDC aggregator transforming airline distribution space, has closed Pre-Series A Investment round for an undisclosed amount.

The round was led by Bluebell Group, a boutique investment banking firm based in Kochi, with investments from Kochouseph Chittilappilly, Chairman Emeritus of V-Guard Industries Ltd, Hassan Kunhi MP, Chairman of Medtech Corporation Qatar, Director of Kannur International Airport & Asset Homes and K.M Varghese, an NRI entrepreneur and social worker based in Qatar.

With the goal of achieving a unicorn status by 2024, Verteil is preparing to start a Series A fund raise of Rs 100 crore.

Founded by Jerrin Jos and Satheesh Satchit, who comes with deep domain experience in mission critical airline IT systems, 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 30 leading airlines from around the globe. Apart from being the global launch partner for Emirates, Verteil is the NDC distribution partner to 30+ airlines which includes the likes of Etihad Airways, Lufthansa Group, British Airways, American Airlines 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.

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, a release said.

Published on May 30, 2021

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