New portal ‘Innowayt’ aims to become the new marketplace

Venya Traveltech India has launched the beta version of the b2b travel platform Innowayt after eight months of developing its product and building its team. The portal is a b2b travel marketplace enabling DMCs and travel suppliers across the globe to transact with travel agents and tour operators.
Narayan Mallapur, CEO & Co-Founder, Venya Traveltech, says, “We started Innowayt with a vision of fixing the current state of broken b2b travel transactions globally. To rethink travel technology and make it invisible but truly assistive, we allow the travel trade to do what they love – take care of their clients.”
Vikas Khanduri, Co-Founder, adds, “Travel technology has touched all aspects of travel space – flights, buses, trains, transfers. What remains are tours and activities and as per Phocuswright Research, globally the tours and activities business is 80 per cent offline and growing at the rate of nine per cent p a with a market size of US$ 118 billion. That’s a big opportunity which we want to tap.”
Mallapur adds that they did a survey with industry experts, suppliers and agents from various destinations in August and September 2017, and started developing the platform from October end with a dedicated tech team of seven. They registered the entity in April 2018. “We have already begun on-boarding suppliers and DMCs from various countries from May 28 under beta. As on today, we have registered 55+ suppliers and on-boarded 33 from these 55. We are looking at 110 countries for suppliers. We plan to onboard agents from end of July and will initially target India, US and European markets. At the moment, we are bootstrapped,” he says.