Event: 2021 Phocuswright Europe
Product: Qtravel Search
HQ: Europe, Poland, Gdansk
Principal(s): Agnieszka Kukalowicz, CEO & Founder; Piotr Muziol, Head of Engineering; Michal Laskowski, Chief Sales Officer; Tomasz Krupa, Head of Research
Funding: €1M from Poland National Research & Development for two grants with four top Polish universities.
Product Description: Qtravel Search is a dedicated platform for travel companies that provides AI tools to build next-generation travel search that decreases costs and converts. Unlike usual search tools in travel, we provide a new way of searching for travelers based on natural language understanding algorithms (in a human-like way). This provides more valuable and relevant results in less time. Our goal is to deliver a fully customizable, ready-to-use product you can integrate in days with your website, so you can focus on providing the best search experience for your users.
Business Model: Travel Search as a Service: Scalable plans based on the volume of data (travel offers) indexed and number of searches; paid monthly.
Competitors: Enterprise search software (e-commerce search) like Algolia, Swiftype, Coveo, Hawksearch. They mainly focus on e-commerce search and are not dedicated for travel data.
Competitive Edge: Qtravel.ai is a dedicated search solution made for travel. By using state-of-the-art artificial intelligence and language-understanding algorithms, we provide ready-to-use natural language search service that is fully customizable and scalable for hundreds of millions of travel offers.
Market Opportunity: For the past 10 years, travel search has been provided for users in the same way. You need to define your destination, a number of people and dates to start the search. Research has shown that people do not think in that way and would like to have a natural language search (like in other industries). Moreover, our technology allows cutting costs by outsourcing the search process and allowing for a low-risk, cost-effective innovation in post-COVID world. Our first market entry is tour operators and travel agencies with turnover €144B in Europe. The technology then will be applied to tours and activities, hotels, DMOs and other travel providers.
Early Customers: Our customers are all types of tour operators. Currently we have two paying satisfied customers and five customers in the phase of preparing proof of concept.