Xeniapp Sets to Disrupt the Travel Space Using AI and Blockchain Technology
India is among the highest growth markets for online travel bookings and airline travel is projected to nearly triple over the next ten years.
India is one of the fastest growing markets in the world for travel. Travel bookings are growing faster than its underlying GDP growth as a large share of the population moves into the middle class and spends disposable income on travel. The two charts below illustrate this trend. India is among the highest growth markets for online travel bookings and airline travel is projected to nearly triple over the next ten years.
As a result, travel agencies are growing rapidly, yet many of the very successful entities that serve travel agencies in the United States, such as host agencies (“travel agency in a box”) and consortia (aggregation of travel agency buying power) are not highly penetrated in India. These models are particularly relevant today because they are a platform model – a model that connects buyers and sellers – and are very well suited to internet and technology solutions. We believe that this type of model can be successfully grown in India using the most up to date technology.
US-headquartered Xeniapp that also operates in India and Singapore, is an on-demand online travel platform that connects travelers with the best experiences. Xeni is set to revolutionize the travel space with the use of the most advanced AI-based distribution system and blockchain technology which addresses unique problems in the airlines global distribution system. Xeni’s Smart Contract based reservation system resolves frequent issues which in turn reduces the service cost with and ultimately, the customer ultimately benefits with cheaper fares.
In an interaction with BW Disrupt, Sachin Narode, Founder, Xeniapp shared details about his venture.
Founded in 2015, Xeniapp is a travel booking portal that allows you to browse and build your trip itinerary on a single page. You can add flights, hotels or/and car rentals by simply dragging and dropping them into your itinerary. Our Blockchain transaction settlement engine (Xennies) allows for rapid settlement and tracking of transactions and with our Name Your Price tool, you will be able to build the itinerary of your dreams, save it for later and then name your desired price for each item. Users will also have a preference to book packaged tours, cruises, private jets and other unique experiences. The travel booking platform also serves travel agents and corporate travel departments in India and worldwide. We are providing travel suppliers with access to one of the worlds fastest growing travel markets. In addition to providing discounted inventory to travel agencies, we plan to increase the value of the platform to them with educational materials, itinerary building tools, connections to other travel agencies, useful reporting, and customer relationship management tools.
Idea behind the Inception
In 2012, I was traveling to Southeast Asia for a conference. I wanted to explore and enjoy the city like locals. Unfortunately, I fell to local tourist traps. I hated the experience also my phone died on me and language was the barrier to communicate. I thought if there was an app like Uber – With the touch of a button, you can browse locals speaking the same language and willing to show you around on my budget and my availability.
Unique key features
Xeniapp Inc. has established multiple travel technology products in the market place and is on its way to accelerating growth.
Our products meet our ideal customer's needs and do it better than their alternative options.
Single Page Application
Drag and Drop Style Cart functionality: This is not available at any other travel portal in the world.
Multiple Hotel and Car Rental booking in one go
Blockchain-based instant payment settlements for all the suppliers and vendors on our platform.
Unique experiences are offered via our sister site Xenivoyage.
We are bootstrapped with a steady revenue stream. We will be raising $50M in the near future.
Xeniapp has a dedicated team in India led by a former travel agent to recruit travel agencies. We expect to sign up 25-50 agencies in the next few months. In addition, we are in conversation with several corporations and universities about joining Xeniapp.
Advice for young entrepreneurs
There are a number of challenges when building a startup and it is hard to nail one down. The most difficult problem in the early stage is finding product-market fit. I spent a lot my time experimenting and perfecting the product to match buyers personas. It is very important to develop your true value proposition, finalize the product or service offering and establish a baseline for your key business metrics. At Xeniapp Inc. we are paying total attention to our product audience.
Any interesting quote about your venture...
"Try new things, meet new people, and look beyond what’s right in front of you. Those are the keys to understanding this amazing world we live in."
Around The World