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India’s EaseMyTrip Invests in B2B Journey Portal ETrav Tech

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Having diversified into motels and insurance coverage, EaseMyTrip now ventures into the B2B journey market with its newest funding.

Indian on-line journey company EaseMyTrip.com on Monday confirmed an funding in business-to-business (B2B) journey portal ETrav Tech.

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The deal, price INR 330 million ($4 million), sees EaseMyTrip safe a 4.94% stake within the Mumbai-based enterprise.

ETrav Tech makes a speciality of providing journey utility programming interfaces (APIs) to companies, enabling them to entry aggressive journey offers and content material from international journey suppliers. These providers embody flight APIs, vacation packages, lodge APIs, bus APIs, and visa providers.

ETrav Tech additionally extends its attain internationally with an workplace in Dubai, as disclosed in EaseMyTrip’s regulatory submitting on Sunday.

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By means of this funding, EaseMyTrip seems to leverage ETrav Tech’s technological prowess and experience in catering to B2B clientele. In response to EaseMyTrip that is anticipated to spice up its service choices to company purchasers.

“We purpose to diversify our portfolio within the non-air segments. After investing in motels, we now intend to boost our providers for our company clientele. The funding with ETrav Tech will likely be pivotal for this,” stated Nishant Pitti, CEO and co-founder of EaseMyTrip.

An More and more Numerous Enterprise

EaseMyTrip has been actively increasing its foothold by means of acquisitions in numerous journey segments lately.

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The corporate reported a 9.6% improve in consolidated web revenue to INR 456 million ($5.5 million) for the interval ending December 2023 in comparison with the corresponding interval final yr. Furthermore, its working income surged by 18% year-on-year to INR 1.61 billion ($19.3 million) in December.

Earlier this yr, EaseMyTrip ventured into the insurance coverage sector with the institution of its subsidiary, EaseMyTrip Insurance coverage Dealer, marking a strategic diversification of its service portfolio.

The corporate seems to faucet into the profitable insurance coverage market by addressing buyer wants by means of specialised merchandise.

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“The brand new enterprise is anticipated to solidify EaseMyTrip’s place within the trade and cater to an INR 7.9 trillion market ($95 billion) with EaseMyTrip’s personal 20-million userbase,” the corporate stated in a regulatory submitting about its entry into the insurance coverage sector.

EaseMyTrip’s Newest Investments

Talking earlier to Skift, EaseMyTrip co-founder Prashant Pitti had stated the corporate is now trying to develop its non-air enterprise by buying firms which might be worthwhile, tech pushed, asset-light and disruptive.

In its pursuit of reinforcing non-air enterprise segments, EaseMyTrip acquired controlling stakes in a number of Indian journey firms final yr. This included Guideline Travels, TripShope Journey Applied sciences, and Dook Travels.

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The corporate additionally acquired a 55% stake in lodge reserving market cheQin, owned by Gleego Improvements, for round $370,000.

In December 2022, the corporate acquired a 75% stake in Nutana Aviation Capital for round $185,000. Nutana Aviation Capital leases constitution plane and supplies constitution providers.

Moreover, the corporate additionally boosted its presence within the lodge trade by buying a non-controlling stake of round 13% in Eco Lodges and Resorts.

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In February, EaseMyTrip introduced a three way partnership funding of as much as INR 1 billion ($12 million) in a five-star lodge venture in Ayodhya, in collaboration with Jeewani Hospitality. This transfer aligned with the corporate’s technique to broaden its choices past conventional journey providers.

The OTA has additionally partnered with Indian public sector financial institution Punjab Nationwide Financial institution to launch a co-branded journey bank card, catering to each mass and premium buyer segments.

The corporate was in information earlier this yr after it suspended all flight bookings to Maldives following the #BoycottMaldives motion in India fueled by a diplomatic dispute between the 2 nations.

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