Mystifly is a travel tech startup that is revolutionizing the way airlines distribute and sell their tickets. The company has carved a niche for itself in the travel industry by building a Global Airfare Marketplace that aggregates airline ticket content from over 900 airlines and 70 global sources, and distributes it to travel agencies, corporates and travel management companies in real-time.
Travel industry is one of the most dynamic and fast-paced industries in the world. In recent years, travel technology has been making waves in revolutionizing the industry, and one such start-up that is taking the industry by storm is Mystifly. The Bengaluru-based travel tech start-up specializes in airline ticket content aggregation and distribution, and recently raised $8 million in funding from Cornerstone Venture Partners, with participation from other investors.
Background on Mystifly
Mystifly was founded in 2009 by Rajeev Kumar, a veteran of the travel and technology industries. The idea behind Mystifly was to make airline ticket content distribution more efficient and accessible. The company has carved a niche for itself in the travel industry by building a Global Airfare Marketplace that aggregates airline ticket content from over 900 airlines and 70 global sources, and distributes it to travel agencies, corporates and travel management companies in real-time.
The company’s main offering is its Global Airfare Marketplace, which aggregates airline ticket content from over 900 airlines worldwide. The online platform enables travel agencies, corporates, and travel management companies to access airline tickets in real-time, making it easier to compare and book the best available fares.
Another advantage of the Mystifly platform is its flexibility. The platform can be integrated into the existing systems of travel agencies and corporates, making it easier for them to access airline ticket content without the need for multiple logins or complex integration processes. This helps to reduce operational costs and improve efficiency.
Mystifly has received multiple awards and recognition for its innovative solutions in the travel tech space. The company was ranked among the top 10 travel technology solutions providers in India by Insights Success.
Details on Mystifly Funding
The recent funding round was led by Cornerstone Venture Partners, which specializes in investing in start-ups in the technology and fintech sectors. With the $8 million in funding, Mystifly plans to expand its global footprint, enhance its product offerings, and invest in technology infrastructure. The company is looking to strengthen its partnerships with airlines, travel agencies, and corporates, while also venturing into new and untapped markets.
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Challenges in the COVID-19 Era
The COVID-19 pandemic has dealt a significant blow to the travel industry, with many airlines suspending operations, governments implementing travel restrictions, and a decline in demand for travel. However, Mystifly remains optimistic about the future of the travel industry, with its innovative travel tech solutions poised to help the industry recover. The company’s ability to adapt and innovate has helped it establish itself as a market leader in the travel tech space.
Investment Signifies Potential
The $8 million in funding from Cornerstone Venture Partners and other investors is a testament to the resilience and potential of the travel industry, and the significant role that technology will play in its recovery. Mystifly’s innovative solutions and ability to adapt to the changing times have helped it become a leader in the travel tech space. The recent funding will help Mystifly accelerate its growth and success by enabling it to continue providing innovative solutions for airlines and travel-related businesses worldwide.
Conclusion
Overall, Mystifly is an innovative travel tech startup that is transforming the airline ticket content distribution and booking process. With its Global Airfare Marketplace, the company is helping airlines and travel-related businesses worldwide to increase their reach, reduce costs, and provide better services to their clients. Mystifly is a great example of how technology can be leveraged to reshape traditional industries and create new opportunities for growth and success.
Mystifly’s achievement in securing $8 million in funding during such challenging times is a great achievement not only for the company but also for the travel tech industry. The investment will help the company invest in technology, expand its product offerings, and tap into new markets. More importantly, it shows that the travel industry is not dead, and technology will play a significant role in its recovery.
Frequently Asked Questions
Rajeev Kumar
2009
$8 Million
