By Greg Abbott Head of Travel, Transportation and Hospitality
Although the online travel industry is among of the world’s largest industries, it continues to rapidly expand with new travel technology startups appearing on the market almost every week. Each new company claims to be unique and solve customers’ problems that existing companies don’t solve.
If we more closely examine these startups along the travel lifecycle and identify a range of the problems that travel startups are dealing with, we will see that most of the emerging companies focus on the “booking” phase. At the same time there are a lot of startups that provide customers with a package combining both services for trip planning and booking vacations.
Another question that fascinates a lot of travel industry players is the geographic spread of startups. In the pie chart below we can notice that India is a leading location. Emerging markets generally represent attractive opportunities to Western investors, so increasing number of Indian startups acquire new rounds of funding.
It is undoubtedly important to attract capital when building a business, as such the startups which have recently raised over $1mil in funding seem to be the most promising. Tnooz Startups section highlights the some of the more successful deals: Rocketmiles, GoEuro, and Homestay.com who all received several million dollars in funding over the last year.
As a custom software development company that builds advanced solutions for the travel & hospitality industry, DataArt has the opportunity to assist development for a number of these bright startups. Our developers are highly motivated to support the technical ideas of hard-working startup teams as collaboration with startups allows them to work in interesting & challenging projects.
If you’re interested in talking to us to see how we might help your start-up grow & succeed, email email@example.com.