Pune-based Vervotech is a travel and hospitality tech platform that provides comprehensive accommodation data solutions to travel companies. Its key services are enterprise level products like hotel and room mapping and hotel curated content.
One of the most common problems faced when searching the web for hotels is duplicate entries with different descriptions and varying prices followed by inadequate information for the consumer. This is largely due to the unorganized travel data that online travel companies consume from third-party suppliers.
The AI based tool built by Sanjay Ghare, Dharmendra Ladi, Marvel Puri, and Ganesh Pawade compiles the data available on hotels and fixes the discrepancies. The room mapping tool works similarly with room-level qualities such as amenities, policies, images etc.
The company currently caters to over 180 paying companies which power over 1000 travel websites such as Rehlat, Otelz, Webebeds and Easemytrip. It plans on bumping up the onboarding and aims to bring in 1000 more companies in the next two years.
The B2B SaaS company first laid its foundation in 2018 and today has its services available across three main regions. Its largest market is North America with about 40% of its customers being from the area. It has about 25% of its customers from India, sees 20% from the Middle East and 3% from Europe and other areas. It plans on expanding its services to South America in the coming years as well.
Ghare founder of the company told Entrackr, “India was not in the list of priority because of the deal size and the pricing of a product based on the economies and the currency. When we were hit by Covid, the only option left was India.”
The five-year-old company runs on an annual subscription model and focuses on metro cities like Mumbai and Delhi which have a vast travel ecosystem.
Ghare, founder of the company, claims the company does not have plans on raising funds any time soon. “The product already has quite a bit of attraction. As for the new product ideas, we might consider funding for that in the future.”, he said.
Travel and tourism industries and some among the largest markets in India. In 2021 both these industries contributed over $178 billion to the nation’s GDP. Back in 2017, the country saw over 10 million foreign tourists and generated a foreign exchange of over $27.31 billion. The same year the domestic expenditure on tourism was about $186 billion.