Latest news with #RikantPittie
Time of India
09-07-2025
- Business
- Time of India
EaseMyTrip cofounder launches AI venture studio to nurture startups across multiple sectors including logistics, fintech
Academy Empower your mind, elevate your skills In a move that signals growing confidence in India's entrepreneurial ecosystem, Rikant Pittie , cofounder of travel booking platform EaseMyTrip , has announced the launch of an AI Venture Studio aimed at supporting the country's most promising technology initiative, unveiled through a social media post, represents a shift from traditional investment models toward collaborative emphasised that this venture goes beyond typical funding arrangements, positioning himself as a hands-on partner in building next-generation AI solutions "Over the past few months, I have been approached by numerous passionate entrepreneurs with innovative and powerful ideas, but struggling to find the right support," Pittie stated in his announcement. "That got me thinking, what if I did not just invest, but built alongside them?"The AI Venture Studio will focus on identifying and nurturing startups across multiple sectors, including healthcare, defence, mobility, entertainment, logistics, agriculture technology, financial technology, and approach deliberately moves away from conventional pitch deck presentations and lengthy application processes, instead prioritising what he describes as "passion, clarity, and vision."The venture studio model, which has gained traction globally, combines venture capital funding with operational support and shared resources. This approach allows entrepreneurs to access not only financial backing but also expertise, infrastructure, and strategic guidance from experienced industry has set an ambitious target of selecting 10 outstanding startups that demonstrate global ambition and address meaningful real-world initiative appears designed to bridge the gap between innovative ideas and successful execution, particularly for entrepreneurs who may lack access to traditional funding networks."This isn't about pitch decks and long applications," Pittie explained. "I am looking for 10 outstanding startups that are building with global ambition, and solving problems that truly matter."The announcement comes at a time when India's startup ecosystem is experiencing both opportunities and the country has produced numerous unicorn companies and continues to attract significant investment, many early-stage entrepreneurs still face hurdles in securing adequate support and which Pittie co-founded, has established itself as one of India's leading online travel platforms, going public in 2021 and demonstrating the potential for Indian startups to achieve significant experience provides Pittie with valuable insights into building successful technology companies in the Indian venture studio's focus on AI-driven solutions aligns with broader global trends toward artificial intelligence adoption across industries. India's large talent pool in technology and engineering, combined with its diverse market challenges, positions the country as a potentially significant player in the global AI entrepreneurs have been invited to share their stories directly with Pittie through social media platforms, reflecting the informal and accessible approach he aims to maintain. This direct engagement model contrasts with traditional venture capital processes, which can often be lengthy and bureaucratic."If you are building something meaningful, and you are ready to scale it from India to the world, please comment or message me your story," Pittie concluded in his announcement. "Let us reimagine the future by writing the next big Indian story."The initiative represents a growing trend among successful Indian entrepreneurs who are reinvesting their expertise and resources into nurturing the next generation of startups. As India continues to establish itself as a global technology hub, such collaborative efforts could play a crucial role in accelerating innovation and creating internationally competitive AI Venture Studio is expected to begin operations in the coming months, with Pittie actively reviewing submissions from interested entrepreneurs across the country.
India Gazette
09-07-2025
- Business
- India Gazette
EaseMyTrip Co-Founder launches AI venture studio to foster Indian Innovation
New Delhi [India], 9 July (ANI): In a move that signals growing confidence in India's entrepreneurial ecosystem, Rikant Pittie, co-founder of travel booking platform EaseMyTrip, has announced the launch of an AI Venture Studio aimed at supporting the country's most promising technology entrepreneurs. The initiative, unveiled through a social media post, represents a shift from traditional investment models toward collaborative partnership. Pittie emphasised that this venture goes beyond typical funding arrangements, positioning himself as a hands-on partner in building next-generation AI solutions. 'Over the past few months, I have been approached by numerous passionate entrepreneurs with innovative and powerful ideas, but struggling to find the right support,' Pittie stated in his announcement. 'That got me thinking, what if I did not just invest, but built alongside them?' The AI Venture Studio will focus on identifying and nurturing startups across multiple sectors, including healthcare, defence, mobility, entertainment, logistics, agriculture technology, financial technology, and education. Pittie's approach deliberately moves away from conventional pitch deck presentations and lengthy application processes, instead prioritising what he describes as 'passion, clarity, and vision.' The venture studio model, which has gained traction globally, combines venture capital funding with operational support and shared resources. This approach allows entrepreneurs to access not only financial backing but also expertise, infrastructure, and strategic guidance from experienced industry leaders. Pittie has set an ambitious target of selecting 10 outstanding startups that demonstrate global ambition and address meaningful real-world challenges. The initiative appears designed to bridge the gap between innovative ideas and successful execution, particularly for entrepreneurs who may lack access to traditional funding networks. 'This isn't about pitch decks and long applications,' Pittie explained. 'I am looking for 10 outstanding startups that are building with global ambition, and solving problems that truly matter.' The announcement comes at a time when India's startup ecosystem is experiencing both opportunities and challenges. While the country has produced numerous unicorn companies and continues to attract significant investment, many early-stage entrepreneurs still face hurdles in securing adequate support and mentorship. EaseMyTrip, which Pittie co-founded, has established itself as one of India's leading online travel platforms, going public in 2021 and demonstrating the potential for Indian startups to achieve significant scale. This experience provides Pittie with valuable insights into building successful technology companies in the Indian market. The venture studio's focus on AI-driven solutions aligns with broader global trends toward artificial intelligence adoption across industries. India's large talent pool in technology and engineering, combined with its diverse market challenges, positions the country as a potentially significant player in the global AI landscape. Interested entrepreneurs have been invited to share their stories directly with Pittie through social media platforms, reflecting the informal and accessible approach he aims to maintain. This direct engagement model contrasts with traditional venture capital processes, which can often be lengthy and bureaucratic. 'If you are building something meaningful, and you are ready to scale it from India to the world, please comment or message me your story,' Pittie concluded in his announcement. 'Let us reimagine the future by writing the next big Indian story.' The initiative represents a growing trend among successful Indian entrepreneurs who are reinvesting their expertise and resources into nurturing the next generation of startups. As India continues to establish itself as a global technology hub, such collaborative efforts could play a crucial role in accelerating innovation and creating internationally competitive companies. The AI Venture Studio is expected to begin operations in the coming months, with Pittie actively reviewing submissions from interested entrepreneurs across the country. (ANI)
Skift
01-07-2025
- Business
- Skift
India's Turkey Travel Slumps in May Amid Diplomatic Backlash
Turkey is witnessing a repeat of what Maldives saw last year. As the world is opening up to Indians, travelers are now making choices that they think align with national interest, even if it means missing out on picture-perfect social media clicks. Indian arrivals to Turkey dropped nearly 24% in May this year compared to the same month last year. Provisional data from Turkey's Ministry of Tourism and Culture shows that the number of Indian visitors fell from 41,544 in May 2024 to 31,659 this year. May accounted for the sharpest decline in Indian tourism to Turkey. Between January and April 2025, 83,306 Indians visited the country, this is slightly below the 84,522 recorded during the same period in 2024, a modest drop of 1.44%. A key factor was a geopolitical development involving an armed conflict with Pakistan. Following a deadly terror attack in Jammu and Kashmir's Pahalgam that killed 26 people, most of them tourists, India carried out military strikes on terror bases in Pakistan-Occupied Kashmir. Turkey and Azerbaijan publicly condemned the strikes. In response, several Indian travel firms, including PickYourTrail, Cox & Kings India, EaseMyTrip, and Go Homestays, suspended bookings to Turkey and Azerbaijan. Vacation rental company Goa Villas also announced it would no longer host Turkish citizens at its properties. Decline in Travel Bookings Travel agency Brightsun Travel said it has noticed a significant decline in interest and bookings for Turkey among Indian travelers during May and June. 'Our data shows that bookings dropped to nearly 50% from 2024 to 2025,' Sandeep Arora, director at Brightsun Travel told Skift. 'While multiple factors could be at play, we believe recent geopolitical developments and growing sentiment on social media, including calls for boycotts may have influenced travel decisions," he added. Online travel company EaseMyTrip also witnessed a similar trend. 'As of May 2025, we've observed a sharp decline in travel interest to Turkey among Indian travelers. Bookings have dropped by more than 50%,' CEO Rikant Pittie said. He added that since the fallout in May, there has been no visible change among Indian travelers that signals a thawing of sentiment towards Turkey. 'On the contrary, Indian travelers have shown strong and consistent alignment with national sentiment, choosing to withhold leisure travel to destinations perceived as unsupportive during times of national adversity. Consequently, we've seen a redistribution of travel interest toward alternative destinations such as Greece, Egypt, Georgia, and Vietnam - countries perceived as neutral or friendly,' he told Skift. India's Growing Importance to Turkey In February, Firat Sunel, Ambassador of Turkey to India, said that India represented one of its most dynamic and fastest-growing source markets. Last year, over 330,000 Indians visited Turkey. The country's tourism board said that the Indian market emerged as a 'particularly strong growth driver' last year. It said that this trend was driven by enhanced air connectivity between the two nations, growing popularity of Turkey among Indian wedding planners and MICE event organizers, and introduction of Turkish experiences that cater to Indian preferences. Earlier this year, the country's tourism ministry and tourism promotion agency held a six-city 'India Destination Promotion Event 2025' to facilitate meetings between travel suppliers in Turkey and trade partners in India. Turkey's tourism board said that the timing of the event was aligned with the growing popularity of Turkey among Indian travelers. A Repeat of Maldives? After the India-Pakistan conflict, there was a sharp decline in interest among Indians for Turkey. The decline in tourism might not seem significant on its own. But to put into perspective, last year, Indian tourists in May increased by 47% as compared to 2023. For the January to May period, this increase was nearly 35% last year. The growth of Indian tourists to Turkey stabilized to 20.7% by the end of 2024. This means that the first five months were significant contributors for the India source market, a trend that was also true in 2023. According to online travel platform MakeMyTrip, in the week following the breakout of the conflict, it witnessed a 60% decline in bookings for Azerbaijan and Turkey. Cancellations during the same period surged by 250%. In the days following this development, Indian airports also terminated agreements with Turkish and Chinese firms for their support for Pakistan. This mirrors a trend seen last year between Indian travelers and the Maldives. A diplomatic spat between the two nations led Indians to boycott the archipelagic nation, resulting in India slipping to the fifth position for tourist arrivals into Maldives in January 2024. A diplomatic spat led to a widespread boycott of the island nation by Indians, causing India to drop to the fifth spot for tourist arrivals in January 2024. At the start of 2024, India was the Maldives' third-largest source market, accounting for 7.6% of arrivals. In 2023, it had held the top spot, contributing over 11% of the 1.8 million total arrivals. By May 2024, India had fallen further to sixth place, prompting Maldives Tourism Minister Ibrahim Faisal to publicly invite Indians back. 'Our economy depends on tourism. Our people and the government will extend a warm welcome to Indian travelers,' he said. The boycott's effects lasted through the year. India ended 2024 as the Maldives' sixth-largest market, sending just over 130,000 tourists, a sharp decline from more than 209,000 in 2023.
Khaleej Times
21-06-2025
- Khaleej Times
UAE residents opt for popular summer destinations that cater to Muslim families
This summer, families are planning vacations in destinations that not only offer scenic beauty and leisure but also cater to their religious and cultural needs. Specially for Muslim families, trips must offer a balance of cultural familiarity, family-friendly experiences, and religious considerations such as halal food, prayer spaces, and respectful environments. According to travel experts and hospitality providers, demand is steadily rising for regions that offer halal-certified services, privacy options, and Islamic-friendly experiences — from Europe to Asia and island getaways. Rikant Pittie, CEO & Co-founder, told Khaleej Times: 'We've observed that families are increasingly gravitating towards destinations that blend a mix of cultural familiarity with family-friendly amenities. 'In Europe, places like Zakopane in Poland have gained popularity. Nestled in the Tatra Mountains, Zakopane offers a cool climate, affordability, and a growing halal-friendly infrastructure, including halal dining options and Arabic signage, making it particularly appealing to UAE's clientele. 'Similarly, the Algarve region in Portugal stands out for its sunny beaches and family-oriented resorts. Accommodations here often provide kids' clubs, halal dining, and women's wellness facilities, catering well to Muslim families. 'Beyond Europe, destinations like the Maldives, Malaysia, and Turkey continue to be favoured. These locations offer a combination of Islamic heritage, halal-certified services, and family-friendly attractions, aligning well with the preferences of Muslim travellers from the UAE.' Where they are going Mohamed Ahmed Ismail, an Egyptian doctor living in Dubai for the past 13 years, is planning a summer holiday to Switzerland with his wife and two children. Their stay will last a minimum of 10 days, with an expected budget of Dh25,000 to Dh30,000. "When travelling, in addition to considering safety, we tend to choose destinations and hotels that offer a family-friendly environment and take into account our cultural and religious needs as a Muslim family — such as prayer times, non-alcoholic beverages, halal food, and cultural sensitivity during tours and vacations," he told Khaleej Times. Ahmed and Kholoud Shamasneh, a Jordanian couple born and raised in the UAE and currently residing in Dubai, are set to travel to Malta this summer with their young child. Their vacation is confirmed and currently in the planning phase, with a stay of between one week and ten days and a budget of around Dh36,000. 'We're a small family, so we usually look for quiet, peaceful destinations with hotels that offer family-friendly facilities — such as kids' play areas, spacious rooms, and easy access to nature or relaxing settings. We are not really city people and therefore, prefer more serene and laid-back environments. 'We are also looking to see historical places that have a wide mix culture to communicate with locals. Having religious considerations is also an important aspect when planning a trip, because it gives the feel of convenience and ease, without having to worry about any relevant needs or requirements during travel.' How are international destinations responding? Khaleej Times reached out to a couple of industry experts to learn how they accommodate UAE-based Muslim families. Mauritius Ramesh Jeenarain, director of sales & marketing, Sunlife Resorts in Mauritius, said, 'We have beachfront resorts that go the extra mile to cater to Muslim travellers, many of whom typically stay between 3 to 5 nights and seek a culturally considerate experience for the whole family. From prayer mats and Qibla direction to halal-friendly dining options and the availability of shisha lounges, every detail is thoughtfully curated to ensure comfort. 'Resorts provide guests with prayer mats and Qibla direction markers in their rooms. Our team is always available to provide daily prayer times.. Guests have access to mosques within a 5 to 20-minute drive. Rooms include Muslim showers (bidet sprays) and we offer private spa treatments for female guests with female therapists, in-room dining, and exclusive-use spaces for family gatherings.' Switzerland Tamara Löffel-Jäger, head of business development at VisitGraubunden, shared: 'Muslim travellers from UAE often prioritise family-sized suites, halal dining options, and culturally respectful service. Most upscale properties provide prayer mats, Qibla direction, and daily prayer times in-room and private prayer spaces can be arranged upon request. " "Amenities include private wellness areas, women-only spa times, female therapists, Muslim showers on request, halal menus, alcohol-free minibars, and family-oriented layouts with ample privacy," she added. Malta Kyle Pace Cumbo, group director of sales & marketing at Iniala Harbour House, noted: 'Guests typically book suites or private residences for secluded family time. Their average stay is 6 nights, and they spend generously on exclusive experiences, private dining, and wellness. 'Our concierge team assists with prayer times and directions to the closest mosque. Prayer mats and Qibla markers are available in-room. We offer halal-certified private dining options and can accommodate dietary requirements at our Michelin-starred restaurant.'
India Gazette
31-05-2025
- Business
- India Gazette
EaseMyTrip growth continues with Gross Merchandise Value at Rs 8691.6 cr in FY25, Hotels and Holidays grew at 189% YoY in Q4
New Delhi [India], May 31 (ANI): growth continues with a strong financial performance for the fourth quarter and full fiscal year 2024-25 (FY25), driven by robust performance across multiple verticals and strategic expansion into new domestic and international markets. According to the company's statement, Gross Booking Revenue (GBR) for Q4 FY25 stood at Rs 2,192.7 crore, while revenue from operations touched Rs 139.5 crore. For the entire financial year that ended on March 31, 2025, EaseMyTrip recorded a Gross Booking Revenue of Rs 8,691.6 crore. Revenue from operations reached Rs 587.3 crore. The company reported an EBITDA of Rs 17.3 crore in Q4, with a margin of 12.1 per cent. Total Comprehensive Income during the quarter was Rs 18.5 crore. The company's EBITDA for the year was Rs 161.2 crore with a margin of 26.7 per cent, while Total Comprehensive Income stood at Rs 117.1 crore. A major contributor to this performance was the company's focus on strengthening its non-air segment, which saw significant year-on-year growth. In Q4 FY25, the Hotels and Holidays segment grew by 189 per cent YoY. Hotel night bookings rose to 2.8 lakh, marking a 101.3 per cent increase compared to the same period last year. For the full year, hotel night bookings increased by 81 per cent, reaching 9.3 lakh compared to 5.2 lakh in FY24. The Trains, Buses, and Others segments also recorded healthy growth. In Q4 FY25, bookings increased from 2.7 lakh to 3.6 lakh, representing a 32 per cent rise YoY. For the full fiscal year, bookings in these segments rose by 26 per cent, touching 13.03 lakh compared to 10.4 lakh in the previous financial year. On the leadership front, Rikant Pittie, one of the co-founders of EaseMyTrip, was appointed CEO effective January 1, 2025. He was also named Chairman of CII Delhi State for 2025-26, becoming the first unicorn founder to hold the post. His appointment is expected to drive the company's long-term growth and strategic direction. EaseMyTrip's international operations, particularly in Dubai, posted exceptional growth. In Q4 FY25, the company's Dubai operations recorded a Gross Booking Revenue of Rs 231.7 crore, a remarkable 266.4 per cent increase from Rs 63.2 crore in Q4 FY24. For the entire FY25, the Dubai vertical registered a GBR of Rs 701.4 crore, up from Rs 205 crore in FY24, reflecting a 242.2 per cent year-on-year growth. The performance highlighted the company's ability to tap into international markets effectively. To further its global ambitions, EaseMyTrip set up new wholly owned subsidiaries in Brazil and Saudi Arabia, named Easy Trip Planners Do Brasil Ltda. and Easy Trip Planners Limited, respectively. These moves mark the company's official entry into two fast-growing travel markets. Brazil's travel sector is projected to reach USD 22.3 billion by 2028, while Saudi Arabia's tourism industry is expected to more than double to USD 110.1 billion by 2033. Establishing an early presence in these regions is a part of EaseMyTrip's strategy to diversify geographically and capture new demand. EaseMyTrip has also expanded its footprint in the Middle East and the U.S. It invested in two Dubai-based firms, Ease My Trip Tours L.L.C. (EMT Tours) and Ease My Trip Holiday Homes L.L.C. (EMT Holiday). In the United States, the company made additional investments in EaseMyTrip USA. These steps align with the company's goal to grow globally while managing operations efficiently from India, maintaining quality and consistency across markets. Back home, EaseMyTrip continued to focus on expanding its offline presence in smaller cities. It launched its 25th franchise store in Kodialbail, Mangalore, targeting Tier-2 and Tier-3 markets. These stores offer a full range of travel services, including flight bookings, hotel reservations, bus and rail ticketing, and customised holiday packages. This expansion strategy is aimed at bridging the gap between online convenience and offline access, especially for customers in smaller towns. EaseMyTrip, through its subsidiaries YoloBus and Easy Green Mobility, won Madhya Pradesh's first intercity electric bus tender, issued by Sagar City Transport Services Limited. This win is a significant step in the state's push for sustainable transportation and supports India's FAME (Faster Adoption and Manufacturing of Hybrid and Electric Vehicles) scheme. The move also aligns with EaseMyTrip's broader ESG (Environmental, Social, and Governance) goals and reflects its intent to diversify into green transport solutions. In a move to further drive outbound tourism, EaseMyTrip signed strategic Memorandums of Understanding (MoUs) with the tourism boards of Penang, New Zealand, South Korea, and Sabah. These partnerships include co-funded marketing campaigns, dedicated microsites, curated content, and influencer collaborations, focusing especially on customers from Tier-2 and Tier-3 Indian cities. In spiritual tourism, EasyDarshan, another EaseMyTrip initiative, partnered with the Ayodhya Development Authority to open a Theerth Yatri Sewa Booth at Lata Mangeshkar Chowk in Ayodhya. The booth offers travel assistance and helps expand homestay infrastructure to meet the growing accommodation demand in the city. Ayodhya attracted over 5 million pilgrims in 2023, and demand is expected to rise further with government-led development efforts. Overall, FY25 has been a landmark year for EaseMyTrip, marked by strong financial performance, international expansion, domestic reach, and innovative offerings across segments. (ANI)
