Boosting investment in the Indian technology market, Kochi-based travel technology firm Verteil Technologies was successful in pulling off a successful round of funding in pre-series A investment for an undisclosed amount.
According to the company, the investment 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; Hassan Kunhi M P, chairman of Medtech Corporation Qatar, and the director of Kannur International Airport and Asset Homes and K M Varghese, an NRI entrepreneur and social worker based in Qatar.
The company founded by Jerrin Jos and Satheesh Satchit, Verteil operates from Kochi and has an operating unit in Tokyo, Japan. The company has a sales presence all over the world, including the US, the UK, Middle East, China, and Hong Kong.
Verteil Technology later said that the company will use the money raised for onboarding more airlines into the platform and will invest further in the technology to bring additional features to the current product. “This funding will enable us to continue innovations in the product apart from further broadening our customer outreach and engagement resources,” Jos said.
The company said it was preparing to start a series A fund raise of Rs 100 crore with a goal of achieving unicorn status by 2024.