Launched last year by Vinay Gupta and Amit Aggarwal, Founders of online travel agency Via.com, TripFactory provides packages curated by tour experts and travel operators that travellers can further enhance.
The startup provides a choice of over 10,000 holidays at over 100 destinations. It also partners with airline operators such Jet Airways, Go Air, SpiceJet and Air Costa to power holidays and flight + hotels on its own websites.
TripFactory allows holidays to be customised and priced online by customers. The startup claims to have already sold around 4,000 holidays with a gross value of over US$2 million in its first year of operations.
“India is a large growing market for both domestic and outbound travel and most consumers like personalising their own holidays or seek assistance by talking to experts who can plan for them. We are making that whole experience seamless using technology,” said Aggarwal.
Consumers generally plan holidays based on themes such as entertainment, places to visit, destinations and type of travel. “Our natural language processing algorithms and machine learning programmes allow consumers to search in plain text e.g. ‘Goa packages near beach under 10000’ or ‘fly from Bangalore to Delhi next Tuesday and stay in a 5 star’. The backend technology and experts construct a package in real-time that can be customised in detail,” he added.
The overseas travel industry for leisure is growing at 40 per cent CAGR year-on-year. The leisure travel market in India as of today is worth about US$80 billion annually, which is set to grow to US$150 billion by 2024.