A Silicon Valley start-up has attracted Iata-based investment for it’s mobile app to support seamless travel shopping, buying and management for the $120 billion self-managed travel market.
The NDC Innovation Fund, a partnership between Iata and investment firm Travel Capitalist Ventures, is buying into Executive Travel App for an undisclosed sum.
It represents the first investment by the NDC Innovation Fund, a strategic investment fund supporting innovation in airline distribution using Iata’s New Distribution Capability standard.
ETA has committed to supporting the delivery of rich NDC-based content via its mobile platform as part of the deal.ETA is chaired by Jeffrey Katz, founding chairman, president and chief executive of Orbitz. He was also chief executive of Swissair, as well as holding senior executive positions at American Airlines and Sabre Holdings.
Iata’s director general and chief executive, Tony Tyler, said: “NDC will enable airlines to present ever-expanding travel choices to customers through the travel agent network. At the same time, air travellers increasingly want to make those choices via their mobile devices.
“This investment is an opportunity to demonstrate that the NDC standard is unleashing innovation and creativity across the spectrum of travel planning.”
Abrar Ahmad, a Partner at Travel Capitalist Ventures, added: “We are excited to invest in ETA as it develops an intuitive mobile application to seamlessly integrate personalized air, hotel, car, and in-destination services, while addressing key pain points across a business traveler’s journey.
“The self-managed business traveller will be able to support key aspects of his or her business trip via this app, including cross-airline product searches, displaying a unified view of their journey, engaging in community-based content with other business travellers, receiving contextual business traveler focused notifications, and duty of care and post-journey reporting needs.”