Business Wire India

(L-R) Ankit Manglik, Cofounder, TRAVELSPICE, Prashant Mitta, Cofounder, TRAVELSPICE, Shri Priyank Kharge, Hon. Minister, ITBT & Tourism, Karnataka, Shri Krishna Byre Gowda, Hon. Agricultural Minister, Karnataka & Ramu Kallepalli, Cofounder, TRAVELSPICE

Karnataka and Bangalore based Travel-tech startup TRAVELSPICE^®, wins Travel-tech startup of the year 2018 award and grant of Rs 15 Lakhs from the Government of Karnataka at an impressive function at Bangalore Palace on Sunday. The check was handed over by Hon. Minister ITBT & Tourism, Shri Priyank Kharge in the presence of Shri Krishna Byre Gowda, Hon. Agricultural Minister, Mr. Ravi Gururaj, member executive council and product council of NASSCOM and other officials and dignitaries.

Founded by Ramu Kallepalli, Prashant Mitta and Ankit Manglik in February, 2017, Travelspice Now Pvt. Ltd. works with 8000+ star hotels in more than 220 cities across India and 10 cities outside the country. The Bangalore-based startup targets brand-agnostic, intelligent and value-conscious consumers, to provide deep discounts on hotel bookings. Hotels benefit, as they fill perishable room inventory with fully paid and non-refundable bookings without violating rate parity mandates and without lowering their brands.

"TRAVELSPICE is based on the unique opaque model well suited for intelligent Indian consumer and has rapidly made a mark in the online hotel booking industry," said Hon. Minister of ITBT and Tourism Shri Priyank Kharge, Government of Karnataka. "The grant we provided to Elevate100 startups will accelerate their product innovation and go to market strategies. We are looking forward for TRAVELSPICE to provide employment to youth in Karnataka and support hotels in tier 2 and tier 3 towns in Karnataka and across India."

"We are grateful to Shri Priyank Kharge and Government of Karnataka for this award and the grant of Rs 15 Lakhs. This is just a start. We will be a Rs 700 crore company in 4 years and revolutionise online hotel booking industry across the world with our unique innovations," said Ramu Kallepalli, CEO of TRAVELSPICE^®.About TRAVELSPICE^®

Bengaluru based TRAVELSPICE^® is online hotel booking platform led by technology entrepreneurs and math experts. Founded in February, 2017, Travelspice Now Pvt. Ltd. works with 8000+ star hotels in more than 220 cities across India and 10 cities outside the country. The Bangalore-based startup targets brand - agnostic, intelligent and value-conscious consumers, to provide deep discounts on hotel bookings. Hotels benefit, as they fill perishable room inventory with fully paid and non-refundable bookings without violating rate parity mandates and without lowering their brands. For more information, visit http://www.travelspice.com.

About Karnataka Government ELEVATE

Karnataka Government, with the aim to promote Startups in India and Karnataka, launched ELEVATE100. ELEVATE 100 is India’s first comprehensive entrepreneurship platform. Amongst 44 startups who won the Government grant, TRAVELSPICE^® was chosen in the category of Travel Technology. Karnataka Government supports entrepreneurial ideas and promotes to bring a positive change to the society. For more information, visit: www.elevate.bengaluruite.biz/elevate/index.php.